Legacy Housing (NASDAQ:LEGH) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Legacy Housing (NASDAQ:LEGH) announced its earnings results on Thursday. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08), FiscalAI reports. The business had revenue of $38.26 million for the quarter, compared to analysts’ expectations of $44.56 million. Legacy Housing had a return on equity of 9.47% and a net margin of 26.66%.

Legacy Housing Stock Down 3.5%

Shares of Legacy Housing stock traded down $0.68 during trading on Friday, reaching $18.73. The company’s stock had a trading volume of 51,334 shares, compared to its average volume of 97,741. The business has a 50 day moving average price of $21.21 and a 200-day moving average price of $22.47. Legacy Housing has a 12-month low of $18.29 and a 12-month high of $29.45. The company has a market capitalization of $447.11 million, a P/E ratio of 9.56 and a beta of 0.78.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LEGH shares. Zacks Research upgraded shares of Legacy Housing from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Legacy Housing in a research note on Monday, December 22nd. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Legacy Housing currently has a consensus rating of “Hold” and a consensus target price of $21.00.

Institutional Investors Weigh In On Legacy Housing

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisory Research Inc. grew its stake in Legacy Housing by 11.0% in the 4th quarter. Advisory Research Inc. now owns 730,944 shares of the company’s stock valued at $14,268,000 after acquiring an additional 72,573 shares during the last quarter. Rothschild Wealth LLC acquired a new position in Legacy Housing during the fourth quarter worth about $1,399,000. Royal Bank of Canada raised its position in Legacy Housing by 88.5% during the fourth quarter. Royal Bank of Canada now owns 85,691 shares of the company’s stock worth $1,673,000 after acquiring an additional 40,241 shares during the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Legacy Housing by 6.0% in the fourth quarter. GW&K Investment Management LLC now owns 701,364 shares of the company’s stock valued at $13,691,000 after purchasing an additional 39,846 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Legacy Housing by 32.8% in the fourth quarter. Russell Investments Group Ltd. now owns 140,528 shares of the company’s stock valued at $2,743,000 after purchasing an additional 34,745 shares in the last quarter. Institutional investors and hedge funds 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.