Legacy Housing (NASDAQ:LEGH) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Legacy Housing (NASDAQ:LEGHFree Report) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, B. Riley started coverage on shares of Legacy Housing in a research note on Friday, May 16th. They issued a “neutral” rating and a $26.00 price objective on the stock.

View Our Latest Stock Analysis on Legacy Housing

Legacy Housing Stock Down 2.6%

NASDAQ LEGH opened at $21.78 on Friday. The firm has a market cap of $525.29 million, a P/E ratio of 10.04 and a beta of 0.85. Legacy Housing has a 52-week low of $21.67 and a 52-week high of $29.31. The business’s 50-day moving average price is $23.53 and its 200 day moving average price is $24.67.

Legacy Housing (NASDAQ:LEGHGet Free Report) last announced its earnings results on Monday, May 12th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.16). The company had revenue of $35.70 million during the quarter, compared to analysts’ expectations of $44.13 million. Legacy Housing had a net margin of 33.11% and a return on equity of 11.85%.

Hedge Funds Weigh In On Legacy Housing

Several institutional investors and hedge funds have recently added to or reduced their stakes in LEGH. Advisory Research Inc. lifted its holdings in shares of Legacy Housing by 34.0% in the 4th quarter. Advisory Research Inc. now owns 472,935 shares of the company’s stock valued at $11,672,000 after buying an additional 120,000 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in Legacy Housing by 93.7% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 247,770 shares of the company’s stock worth $6,249,000 after acquiring an additional 119,870 shares in the last quarter. Boston Partners lifted its holdings in Legacy Housing by 543.2% in the first quarter. Boston Partners now owns 116,089 shares of the company’s stock valued at $2,928,000 after acquiring an additional 98,040 shares during the period. Robotti Robert boosted its position in shares of Legacy Housing by 72.8% during the 1st quarter. Robotti Robert now owns 221,304 shares of the company’s stock worth $5,581,000 after purchasing an additional 93,234 shares in the last quarter. Finally, Bfsg LLC acquired a new position in shares of Legacy Housing during the 1st quarter worth $2,245,000. Institutional investors and hedge funds own 89.35% of the company’s stock.

Legacy Housing Company Profile

(Get Free Report)

Legacy Housing Corporation engages in the building, sale, and financing of manufactured homes and tiny houses primarily in the southern United States. It manufactures and provides for the transport of mobile homes, including 1 to 5 bedrooms with 1 to 3 1/2 bathrooms; and provides wholesale financing to dealers and mobile home parks, as well as retail financing to consumers.

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