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published in Blogs
Apr 21, 2019

Housing starts fall more than -14% in March

Privately-owned housings starts in the U.S. declined more than -14% year-over-year in March, as indicated by the latest data from the U.S. Census and Commerce Department .

The seasonally adjusted annual rate of 1.139 million was also -0.3% below the revised February estimate of 1.142 million. The figure even fell short of the 1.230 million units expected by economists polled by Reuters.  

The count of building permits for privately‐owned housing decreased by -7.8% year-over-year to a seasonally adjusted annual rate of 1,269,000 in March. It is a -1.7% drop from the revised February rate.

As for the single‐family category in particular, housing starts in March dipped to a rate of 785,000, which is -0 .4% below the revised February figure of 788,000. Single‐family housing authorization number in March came in at 808,000, reflecting a -1.1% decline from the revised February figures.

Related Ticker: LEGH

Momentum Indicator for LEGH turns positive, indicating new upward trend

LEGH saw its Momentum Indicator move above the 0 level on February 28, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 86 similar instances where the indicator turned positive. In of the 86 cases, the stock moved higher in the following days. The odds of a move higher are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

LEGH moved above its 50-day moving average on January 25, 2024 date and that indicates a change from a downward trend to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where LEGH advanced for three days, in of 280 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 196 cases where LEGH Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The 10-day RSI Indicator for LEGH moved out of overbought territory on February 13, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 32 similar instances where the indicator moved out of overbought territory. In of the 32 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Stochastic Oscillator entered the overbought zone. Expect a price pull-back in the foreseeable future.

The Moving Average Convergence Divergence Histogram (MACD) for LEGH turned negative on February 22, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 50 similar instances when the indicator turned negative. In of the 50 cases the stock turned lower in the days that followed. This puts the odds of success at .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where LEGH declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

LEGH broke above its upper Bollinger Band on February 12, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 52, placing this stock slightly better than average.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. LEGH’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.454) is normal, around the industry mean (6.195). P/E Ratio (9.446) is within average values for comparable stocks, (88.754). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (1.411). LEGH has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.043). P/S Ratio (2.749) is also within normal values, averaging (75.163).

Notable companies

The most notable companies in this group are DR Horton (NYSE:DHI), Lennar Corp (NYSE:LEN), Pultegroup (NYSE:PHM), KB Home (NYSE:KBH).

Industry description

Homebuilding includes companies residential home construction companies, renovators and repair firms. The companies may be building single-family or multifamily homes, condominiums or mobile homes. Over the five years to 2019, the Home Builders industry is estimated to have grown at an annualized rate of 2.5% to reach $89.4 billion, (including expected growth of 2.6% in 2019), according to a study by IbisWorld. After having suffered one of its worst crises a decade ago during the last macroeconomic recession–which had much of its origins in U.S. real estate – the homebuilding industry has been recovering steadily so far. Higher disposable incomes and improving economic activity have bolstered consumers’ purchases of homes. While revenue of the Home Builders industry remains well below its prerecession high, demand growth estimates show promise.

Market Cap

The average market capitalization across the Homebuilding Industry is 6.67B. The market cap for tickers in the group ranges from 66.68K to 50.76B. DHI holds the highest valuation in this group at 50.76B. The lowest valued company is ASCK at 66.68K.

High and low price notable news

The average weekly price growth across all stocks in the Homebuilding Industry was 2%. For the same Industry, the average monthly price growth was 4%, and the average quarterly price growth was 14%. HOV experienced the highest price growth at 15%, while DREM experienced the biggest fall at -8%.

Volume

The average weekly volume growth across all stocks in the Homebuilding Industry was 38%. For the same stocks of the Industry, the average monthly volume growth was -21% and the average quarterly volume growth was 24%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 38
P/E Growth Rating: 33
Price Growth Rating: 43
SMR Rating: 54
Profit Risk Rating: 52
Seasonality Score: -21 (-100 ... +100)
Related Portfolios: REAL ESTATE DEVELOPMENT
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

a manufacturer of custom built mobile homes

Industry Homebuilding

Profile
Fundamentals
Details
Industry
Homebuilding
Address
1600 Airport Freeway
Phone
+1 817 799-4900
Employees
870
Web
https://www.legacyhousingcorp.com
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LEGH and

Correlation & Price change

A.I.dvisor indicates that over the last year, LEGH has been loosely correlated with CVCO. These tickers have moved in lockstep 52% of the time. This A.I.-generated data suggests there is some statistical probability that if LEGH jumps, then CVCO could also see price increases.

1D
1W
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5Y
Ticker /
NAME
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To LEGH
1D Price
Change %
LEGH100%
-0.47%
CVCO - LEGH
52%
Loosely correlated
+1.93%
LGIH - LEGH
50%
Loosely correlated
+0.75%
SKY - LEGH
50%
Loosely correlated
+1.24%
CCS - LEGH
49%
Loosely correlated
+1.22%
TOL - LEGH
49%
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+1.99%
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