Legacy Housing (NASDAQ:LEGH) Issues Earnings Results

Legacy Housing (NASDAQ:LEGH) issued its earnings results on Wednesday. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.31, FiscalAI reports. Legacy Housing had a net margin of 26.01% and a return on equity of 8.08%. The company had revenue of $66.35 million for the quarter, compared to analyst estimates of $59.91 million.

Legacy Housing Stock Up 1.0%

Shares of LEGH traded up $0.26 during trading hours on Wednesday, reaching $27.52. The stock had a trading volume of 144,766 shares, compared to its average volume of 101,502. Legacy Housing has a 52 week low of $18.28 and a 52 week high of $29.45. The firm has a 50-day moving average of $25.52 and a 200 day moving average of $22.75. The company has a market cap of $654.43 million, a P/E ratio of 15.46 and a beta of 0.78.

Analyst Ratings Changes

A number of research firms recently weighed in on LEGH. B. Riley Financial reissued a “neutral” rating on shares of Legacy Housing in a research note on Thursday, May 14th. Weiss Ratings raised shares of Legacy Housing from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Finally, Zacks Research cut shares of Legacy Housing from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its stake in Legacy Housing by 2.5% in the fourth quarter. First Trust Advisors LP now owns 28,712 shares of the company’s stock valued at $560,000 after acquiring an additional 702 shares during the period. Legal & General Group Plc raised its position in shares of Legacy Housing by 8.0% during the third quarter. Legal & General Group Plc now owns 9,671 shares of the company’s stock worth $266,000 after purchasing an additional 713 shares during the period. Quarry LP acquired a new stake in shares of Legacy Housing during the third quarter worth about $26,000. Barclays PLC lifted its holdings in shares of Legacy Housing by 8.8% during the 4th quarter. Barclays PLC now owns 13,394 shares of the company’s stock valued at $261,000 after purchasing an additional 1,081 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Legacy Housing by 8.3% during the 4th quarter. Invesco Ltd. now owns 16,927 shares of the company’s stock valued at $330,000 after purchasing an additional 1,291 shares in the last quarter. 89.35% of the stock is owned by institutional investors and hedge funds.

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.