Legacy Housing (NASDAQ:LEGH) Receives “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of Legacy Housing (NASDAQ:LEGH) in a research note released on Friday, Benzinga reports. The firm currently has a $29.00 price objective on the stock.

LEGH has been the topic of a number of other research reports. CJS Securities initiated coverage on Legacy Housing in a research note on Friday, June 7th. They issued an outperform rating and a $33.00 price objective on the stock. B. Riley upgraded shares of Legacy Housing from a hold rating to a strong-buy rating in a research report on Tuesday, May 14th.

Legacy Housing Price Performance

LEGH stock opened at $25.01 on Friday. The company has a market capitalization of $608.14 million, a PE ratio of 11.80 and a beta of 1.06. The company’s fifty day moving average price is $24.44 and its 200-day moving average price is $23.44. Legacy Housing has a one year low of $17.67 and a one year high of $29.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.88 and a current ratio of 3.76.

Legacy Housing (NASDAQ:LEGH) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.58 by $0.07. Legacy Housing had a net margin of 29.70% and a return on equity of 12.33%. The business had revenue of $42.50 million during the quarter, compared to the consensus estimate of $46.35 million. During the same quarter in the prior year, the firm earned $0.60 EPS. On average, equities analysts anticipate that Legacy Housing will post 2.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Legacy Housing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Premier Path Wealth Partners LLC increased its position in shares of Legacy Housing by 2.3% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 47,783 shares of the company’s stock valued at $1,096,000 after purchasing an additional 1,083 shares during the last quarter. Innealta Capital LLC purchased a new position in Legacy Housing during the second quarter worth $28,000. Gabelli Funds LLC increased its position in Legacy Housing by 3.5% during the fourth quarter. Gabelli Funds LLC now owns 47,327 shares of the company’s stock valued at $1,194,000 after acquiring an additional 1,600 shares during the last quarter. Empowered Funds LLC increased its position in Legacy Housing by 5.0% during the first quarter. Empowered Funds LLC now owns 36,902 shares of the company’s stock valued at $794,000 after acquiring an additional 1,767 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Legacy Housing by 1.1% in the second quarter. American Century Companies Inc. now owns 180,736 shares of the company’s stock valued at $4,146,000 after acquiring an additional 2,014 shares during the period. 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.