Legacy Housing (NASDAQ:LEGH) Reaches New 52-Week High – Still a Buy?

Legacy Housing Corporation (NASDAQ:LEGH)’s share price reached a new 52-week high on Monday. The company traded as high as $31.76 and last traded at $32.21, with a volume of 60,457 shares trading hands. The stock had previously closed at $29.36.

Wall Street Analyst Weigh In

Several research firms have issued reports on LEGH. Wall Street Zen upgraded Legacy Housing from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Zacks Research downgraded Legacy Housing from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of Legacy Housing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 21st. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.00.

Legacy Housing Stock Performance

The firm has a market cap of $760.60 million, a price-to-earnings ratio of 14.71 and a beta of 0.78. The business has a fifty day moving average of $28.29 and a two-hundred day moving average of $24.54.

Legacy Housing (NASDAQ:LEGH) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.27. The firm had revenue of $66.35 million during the quarter, compared to the consensus estimate of $64.08 million. Legacy Housing had a return on equity of 9.53% and a net margin of 28.56%. On average, equities research analysts forecast that Legacy Housing Corporation will post 2.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LEGH. Nisa Investment Advisors LLC purchased a new stake in shares of Legacy Housing in the third quarter valued at about $77,000. Legal & General Group Plc acquired a new stake in shares of Legacy Housing in the second quarter valued at approximately $149,000. State of Wyoming purchased a new position in shares of Legacy Housing during the 2nd quarter worth approximately $169,000. Lee Financial Co purchased a new position in shares of Legacy Housing during the 3rd quarter worth approximately $218,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Legacy Housing during the 2nd quarter worth approximately $204,000. Institutional investors and hedge funds own 89.35% of the company’s stock.

Legacy Housing Company Profile

Legacy Housing Corporation is a manufacturer and seller of manufactured homes. The company produces homes in a range of sizes and floor plans, including single-section and multi-section models designed for residential use. Its products are marketed under the Legacy Housing brand and are intended to provide an alternative to traditionally built housing.

The company sells manufactured homes through a combination of retail locations, independent dealers and wholesale channels. Legacy Housing also provides financing options to qualified homebuyers and dealers, supporting the purchase of its homes.