Legacy Housing (NASDAQ:LEGH) Issues Quarterly Earnings Results

Legacy Housing (NASDAQ:LEGH) released its quarterly earnings results on Thursday. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04, Zacks reports. The business had revenue of $34.37 million for the quarter, compared to analysts’ expectations of $38.82 million. Legacy Housing had a return on equity of 8.15% and a net margin of 26.01%.

Legacy Housing Stock Performance

LEGH stock traded up $1.71 on Friday, reaching $23.28. The company had a trading volume of 200,224 shares, compared to its average volume of 62,347. Legacy Housing has a 1 year low of $18.28 and a 1 year high of $29.45. The company’s fifty day moving average is $20.69 and its 200 day moving average is $20.91. The company has a market cap of $554.30 million, a P/E ratio of 13.08 and a beta of 0.77.

Analysts Set New Price Targets

A number of research firms recently weighed in on LEGH. Zacks Research upgraded Legacy Housing from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings cut Legacy Housing from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $21.00.

Institutional Investors Weigh In On Legacy Housing

A number of institutional investors and hedge funds have recently bought and sold shares of LEGH. Quarry LP purchased a new stake in Legacy Housing in the 3rd quarter valued at approximately $26,000. Tower Research Capital LLC TRC lifted its stake in Legacy Housing by 414.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,408 shares of the company’s stock valued at $55,000 after buying an additional 1,940 shares in the last quarter. Strs Ohio purchased a new stake in Legacy Housing in the 1st quarter valued at approximately $124,000. Aquatic Capital Management LLC lifted its stake in Legacy Housing by 2,156.0% in the 3rd quarter. Aquatic Capital Management LLC now owns 4,873 shares of the company’s stock valued at $134,000 after buying an additional 4,657 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Legacy Housing by 44.7% in the 4th quarter. Wells Fargo & Company MN now owns 9,576 shares of the company’s stock valued at $187,000 after buying an additional 2,956 shares in the last quarter. Hedge funds and other institutional investors own 89.35% of the company’s stock.

Legacy Housing Company Profile

Legacy Housing Corp. designs, builds and markets factory-built homes, focusing on both single-section and multi-section manufactured housing products. The company offers a range of floor plans and customization options, including energy-efficient features and accessible design elements. Its core business activities encompass in-house design, procurement of building materials, plant-based construction and nationwide distribution through an independent network of retail partners.

Founded in 2009 and headquartered in Dallas, Texas, Legacy Housing operates in key regions across the southeastern and southwestern United States.