Today: Analysts give average Rating of “Hold” to Legacy Reserves LP (LGCY)

Today: Analysts give average Rating of “Hold” to Legacy Reserves LP (LGCY)

Legacy Reserves LP (NASDAQ:LGCY) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $3.60.

Several research analysts have issued reports on LGCY shares. Zacks Investment Research cut shares of Legacy Reserves from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 12th. Vetr upgraded shares of Legacy Reserves from a “buy” rating to a “strong-buy” rating and set a $1.88 target price on the stock in a report on Tuesday, November 1st. Stifel Nicolaus upgraded shares of Legacy Reserves from a “sell” rating to a “hold” rating and set a $1.75 target price on the stock in a report on Wednesday, October 26th. Finally, FBR & Co reiterated a “hold” rating and set a $1.75 target price on shares of Legacy Reserves in a report on Monday, August 8th.

Several institutional investors have recently made changes to their positions in LGCY. Morgan Stanley raised its position in shares of Legacy Reserves by 346.8% in the third quarter. Morgan Stanley now owns 435,041 shares of the company’s stock valued at $587,000 after buying an additional 337,663 shares during the last quarter. Arrow Investment Advisors LLC raised its position in shares of Legacy Reserves by 73.4% in the second quarter. Arrow Investment Advisors LLC now owns 661,930 shares of the company’s stock valued at $1,072,000 after buying an additional 280,269 shares during the last quarter. Deere & Co. bought a new position in shares of Legacy Reserves during the second quarter valued at approximately $287,000. Finally, KCG Holdings Inc. raised its position in shares of Legacy Reserves by 40.2% in the second quarter. KCG Holdings Inc. now owns 184,264 shares of the company’s stock valued at $299,000 after buying an additional 52,794 shares during the last quarter.

Shares of Legacy Reserves (NASDAQ:LGCY) traded down 7.18% during trading on Monday, hitting $1.68. 562,191 shares of the stock traded hands. The company has a 50 day moving average price of $0.00 and a 200 day moving average price of $0.00. Legacy Reserves has a 12 month low of $0.61 and a 12 month high of $3.89.

Legacy Reserves (NASDAQ:LGCY) last issued its earnings results on Wednesday, November 2nd. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.09. The business had revenue of $83.50 million for the quarter, compared to the consensus estimate of $99.04 million. During the same quarter in the previous year, the company earned ($1.38) earnings per share. The firm’s revenue was down 6.7% on a year-over-year basis. Equities research analysts anticipate that Legacy Reserves will post $0.17 earnings per share for the current year.

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