B. Riley Equities Analysts Lift Earnings Estimates for Legacy Housing Corp (LEGH)

Legacy Housing Corp (NASDAQ:LEGH) – Analysts at B. Riley lifted their FY2019 EPS estimates for Legacy Housing in a research report issued on Wednesday, May 15th. B. Riley analyst A. Rygiel now anticipates that the company will post earnings of $1.17 per share for the year, up from their prior estimate of $1.12. B. Riley has a “Buy” rating and a $14.00 price objective on the stock. B. Riley also issued estimates for Legacy Housing’s FY2020 earnings at $1.44 EPS.

Separately, Zacks Investment Research cut Legacy Housing from a “hold” rating to a “sell” rating in a research report on Saturday, April 13th.

NASDAQ:LEGH opened at $12.37 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.10 and a quick ratio of 1.04. Legacy Housing has a 12-month low of $8.93 and a 12-month high of $14.99. The stock has a market cap of $305.82 million and a P/E ratio of 11.56.

Several large investors have recently added to or reduced their stakes in the stock. Coastal Investment Advisors Inc. purchased a new stake in shares of Legacy Housing during the first quarter worth about $34,000. American International Group Inc. purchased a new stake in shares of Legacy Housing during the first quarter worth about $35,000. Marshall Wace North America L.P. purchased a new stake in shares of Legacy Housing during the first quarter worth about $46,000. California State Teachers Retirement System purchased a new stake in shares of Legacy Housing during the first quarter worth about $86,000. Finally, Knott David M purchased a new stake in shares of Legacy Housing during the fourth quarter worth about $108,000. Hedge funds and other institutional investors own 13.85% of the company’s stock.

Legacy Housing Company Profile

Legacy Housing Corporation builds, sells, and finances manufactured homes and tiny houses primarily in the southern United States. The company manufactures and provides for the transport of mobile homes; and offers wholesale financing to dealers and mobile home parks, as well as a range of homes, including 1 to 5 bedrooms, with 1 to 3 1/2 bathrooms.

Further Reading: Overbought

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