Legacy Housing (NASDAQ:LEGH) Given “Outperform” Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of Legacy Housing (NASDAQ:LEGH) in a research report sent to investors on Friday, Benzinga reports. Wedbush currently has a $29.00 target price on the stock.

A number of other analysts also recently issued reports on the stock. CJS Securities began coverage on shares of Legacy Housing in a research report on Friday, June 7th. They set an outperform rating and a $33.00 target price for the company. B. Riley upgraded shares of Legacy Housing from a hold rating to a strong-buy rating in a report on Tuesday, May 14th.

Legacy Housing Trading Down 1.2 %

Shares of NASDAQ:LEGH traded down $0.32 during midday trading on Friday, reaching $26.04. The company’s stock had a trading volume of 66,143 shares, compared to its average volume of 70,848. The firm has a market cap of $633.19 million, a price-to-earnings ratio of 12.28 and a beta of 1.06. The business has a 50 day moving average price of $24.44 and a 200 day moving average price of $23.44. Legacy Housing has a 1 year low of $17.67 and a 1 year high of $29.31. The company has a quick ratio of 2.88, a current ratio of 3.76 and a debt-to-equity ratio of 0.03.

Legacy Housing (NASDAQ:LEGH) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.36 by $0.24. The firm had revenue of $43.24 million during the quarter, compared to analyst estimates of $38.07 million. Legacy Housing had a net margin of 29.70% and a return on equity of 12.33%. During the same quarter in the prior year, the business posted $0.65 earnings per share. Research analysts forecast that Legacy Housing will post 2.34 EPS for the current year.

Institutional Trading of Legacy Housing

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Innealta Capital LLC bought a new position in Legacy Housing in the second quarter worth about $28,000. EntryPoint Capital LLC bought a new position in Legacy Housing during the 1st quarter valued at $45,000. BNP Paribas Financial Markets boosted its stake in Legacy Housing by 79.0% during the first quarter. BNP Paribas Financial Markets now owns 5,708 shares of the company’s stock valued at $123,000 after buying an additional 2,520 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Legacy Housing in the 4th quarter worth approximately $143,000. Finally, Quadrature Capital Ltd acquired a new position in Legacy Housing in the first quarter worth approximately $245,000. 89.35% of the stock is owned by institutional investors.

About Legacy Housing

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.