Zacks Research Upgrades Legacy Housing (NASDAQ:LEGH) to Strong-Buy

Legacy Housing (NASDAQ:LEGH) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other brokerages have also commented on LEGH. B. Riley Financial reiterated a “neutral” rating on shares of Legacy Housing in a research report on Thursday, May 14th. Weiss Ratings upgraded shares of Legacy Housing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Legacy Housing currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Legacy Housing Stock Performance

Shares of LEGH opened at $26.11 on Tuesday. The firm has a market capitalization of $620.90 million, a price-to-earnings ratio of 14.67 and a beta of 0.78. The business’s fifty day moving average price is $23.50 and its two-hundred day moving average price is $21.73. Legacy Housing has a 52 week low of $18.28 and a 52 week high of $29.45.

Legacy Housing (NASDAQ:LEGH) last released its earnings results on Thursday, May 7th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. Legacy Housing had a return on equity of 8.08% and a net margin of 26.01%.The company had revenue of $34.37 million during the quarter, compared to the consensus estimate of $38.82 million. As a group, research analysts forecast that Legacy Housing will post 2.32 EPS for the current year.

Institutional Investors Weigh In On Legacy Housing

Institutional investors have recently made changes to their positions in the stock. Voss Capital LP increased its holdings in Legacy Housing by 1.6% in the third quarter. Voss Capital LP now owns 1,067,249 shares of the company’s stock valued at $29,360,000 after purchasing an additional 17,249 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Legacy Housing by 7.0% in the first quarter. Dimensional Fund Advisors LP now owns 955,771 shares of the company’s stock valued at $19,526,000 after buying an additional 62,224 shares during the period. Advisory Research Inc. boosted its holdings in Legacy Housing by 11.0% during the fourth quarter. Advisory Research Inc. now owns 730,944 shares of the company’s stock worth $14,268,000 after buying an additional 72,573 shares during the last quarter. GW&K Investment Management LLC boosted its holdings in Legacy Housing by 6.0% during the fourth quarter. GW&K Investment Management LLC now owns 701,364 shares of the company’s stock worth $13,691,000 after buying an additional 39,846 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. grew its position in shares of Legacy Housing by 2.3% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 429,110 shares of the company’s stock worth $11,805,000 after buying an additional 9,590 shares during the period. 89.35% of the stock is owned by institutional investors and hedge funds.

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.