Legacy Housing (NASDAQ:LEGH) Sets New 52-Week Low - Should You Sell?

Key Points

• The stock price of Legacy Housing (NASDAQ:LEGH) hit a new 52-week low at $21.01, with a recent trading value of $21.19 and a volume of 25,563 shares exchanged.
• Analysts have mixed ratings for Legacy Housing, with Weiss Ratings maintaining a "buy (b-)" and Wall Street Zen upgrading it to a "hold"; the average rating is "Moderate Buy" with a price target of $26.00.
• Legacy Housing reported strong quarterly earnings, with an EPS of $0.60 that surpassed estimates and revenues of $50.20 million, improving significantly over analyst expectations.

Legacy Housing Corporation (NASDAQ:LEGH - Get Free Report)'s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $21.01 and last traded at $21.19, with a volume of 25563 shares changing hands. The stock had previously closed at $22.00.

Analyst Ratings Changes

Several research firms have issued reports on LEGH. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Legacy Housing in a report on Wednesday. Wall Street Zen upgraded Legacy Housing from a "sell" rating to a "hold" rating in a research note on Monday, June 30th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Legacy Housing has an average rating of "Moderate Buy" and a consensus price target of $26.00.

Legacy Housing Stock Down 2.2%

The stock has a 50-day moving average of $26.50 and a 200 day moving average of $24.46. The stock has a market cap of $513.83 million, a PE ratio of 9.56 and a beta of 0.81.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.55 by $0.05. The business had revenue of $50.20 million during the quarter, compared to analysts' expectations of $43.53 million. Legacy Housing had a net margin of 30.00% and a return on equity of 11.11%.

Institutional Trading of Legacy Housing

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE lifted its holdings in Legacy Housing by 46.0% during the fourth quarter. Bank of America Corp DE now owns 14,747 shares of the company's stock valued at $364,000 after purchasing an additional 4,648 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Legacy Housing by 6,650.0% during the first quarter. GAMMA Investing LLC now owns 2,295 shares of the company's stock valued at $58,000 after acquiring an additional 2,261 shares during the last quarter. Bfsg LLC acquired a new position in Legacy Housing in the 1st quarter valued at $2,245,000. Teacher Retirement System of Texas acquired a new stake in shares of Legacy Housing in the first quarter valued at about $698,000. Finally, Cerity Partners LLC lifted its stake in shares of Legacy Housing by 11.8% in the first quarter. Cerity Partners LLC now owns 117,825 shares of the company's stock worth $2,972,000 after buying an additional 12,406 shares in the last quarter. 89.35% of the stock is currently owned by hedge funds and other institutional investors.

Legacy Housing Company Profile

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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