Legacy Housing (NASDAQ:LEGH) Downgraded by Wall Street Zen to Buy

Wall Street Zen downgraded shares of Legacy Housing (NASDAQ:LEGH) from a strong-buy rating to a buy rating in a research note released on Sunday.

LEGH has been the subject of a number of other research reports. B. Riley Financial reaffirmed a “neutral” rating on shares of Legacy Housing in a research report on Thursday, May 14th. Zacks Research downgraded Legacy Housing from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings raised Legacy Housing from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.00.

Legacy Housing Price Performance

NASDAQ:LEGH opened at $29.33 on Friday. The firm has a market capitalization of $697.47 million, a P/E ratio of 13.52 and a beta of 0.78. Legacy Housing has a one year low of $18.28 and a one year high of $31.34. The company’s 50-day simple moving average is $26.31 and its 200 day simple moving average is $23.13.

Legacy Housing (NASDAQ:LEGH) last announced its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.27. Legacy Housing had a net margin of 28.56% and a return on equity of 9.53%. The business had revenue of $66.35 million during the quarter, compared to the consensus estimate of $64.08 million. On average, equities research analysts expect that Legacy Housing will post 2.32 earnings per share for the current fiscal year.

Institutional Trading of Legacy Housing

Institutional investors and hedge funds have recently modified their holdings of the business. J. Goldman & Co LP purchased a new position in shares of Legacy Housing in the second quarter worth $582,000. Legal & General Group Plc purchased a new stake in shares of Legacy Housing during the second quarter valued at $149,000. Bard Associates Inc. bought a new stake in Legacy Housing in the 2nd quarter worth about $4,720,000. Robotti Robert bought a new stake in Legacy Housing in the 2nd quarter worth about $861,000. Finally, BlackRock Inc. purchased a new position in Legacy Housing in the 2nd quarter worth about $16,714,000. Institutional investors own 89.35% of the company’s stock.

Legacy Housing Company Profile

Legacy Housing Corp. designs, builds and markets factory-built homes, focusing on both single-section and multi-section manufactured housing products. The company offers a range of floor plans and customization options, including energy-efficient features and accessible design elements. Its core business activities encompass in-house design, procurement of building materials, plant-based construction and nationwide distribution through an independent network of retail partners.

Founded in 2009 and headquartered in Dallas, Texas, Legacy Housing operates in key regions across the southeastern and southwestern United States.