Legacy Housing's (LEGH) Buy (B-) Rating Reiterated at Weiss Ratings

Key Points

• Legacy Housing's stock has been reaffirmed with a "buy (B-)" rating by Weiss Ratings, indicating continued positive sentiment from analysts.
• In addition, Wall Street Zen upgraded Legacy Housing from a "sell" to a "hold" rating, suggesting a more favorable outlook for the stock.
• Legacy Housing reported earnings of $0.60 per share for the last quarter, exceeding estimates and reflecting a strong net margin of 30.00%.

Legacy Housing (NASDAQ:LEGH - Get Free Report)'s stock had its "buy (b-)" rating reissued by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen raised Legacy Housing from a "sell" rating to a "hold" rating in a research report on Monday, June 30th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Legacy Housing has an average rating of "Moderate Buy" and an average price target of $26.00.

Legacy Housing Trading Down 0.1%

Shares of LEGH opened at $22.75 on Wednesday. The stock has a fifty day moving average price of $26.51 and a 200-day moving average price of $24.49. Legacy Housing has a 12 month low of $21.58 and a 12 month high of $29.45. The firm has a market cap of $543.04 million, a PE ratio of 10.16 and a beta of 0.81.

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

Institutional Investors Weigh In On Legacy Housing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP grew its position in Legacy Housing by 2.6% during the 2nd quarter. First Trust Advisors LP now owns 35,892 shares of the company's stock worth $813,000 after purchasing an additional 917 shares during the period. Bfsg LLC grew its position in Legacy Housing by 1.0% during the 2nd quarter. Bfsg LLC now owns 89,957 shares of the company's stock worth $2,038,000 after purchasing an additional 925 shares during the period. Teacher Retirement System of Texas grew its position in Legacy Housing by 4.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 28,798 shares of the company's stock worth $653,000 after purchasing an additional 1,129 shares during the period. Legal & General Group Plc grew its position in Legacy Housing by 15.7% during the 2nd quarter. Legal & General Group Plc now owns 8,958 shares of the company's stock worth $203,000 after purchasing an additional 1,216 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Legacy Housing by 11.5% during the 2nd quarter. Bank of America Corp DE now owns 14,641 shares of the company's stock valued at $332,000 after acquiring an additional 1,515 shares during the period. 89.35% of the stock is owned by institutional investors and hedge funds.

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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