Legacy Housing (NASDAQ:LEGH) Releases Earnings Results, Beats Expectations By $0.11 EPS

Legacy Housing (NASDAQ:LEGH) posted its quarterly earnings data on Wednesday. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11, Zacks reports. Legacy Housing had a net margin of 28.56% and a return on equity of 9.53%. The business had revenue of $69.70 million during the quarter, compared to the consensus estimate of $63.12 million.

Legacy Housing Stock Down 4.5%

Shares of LEGH stock traded down $1.44 during trading hours on Thursday, reaching $30.34. 100,586 shares of the company’s stock were exchanged, compared to its average volume of 97,595. Legacy Housing has a fifty-two week low of $18.28 and a fifty-two week high of $39.38. The stock has a market capitalization of $721.58 million, a P/E ratio of 14.06 and a beta of 0.78. The business has a fifty day moving average price of $28.34 and a 200-day moving average price of $24.59.

Analyst Upgrades and Downgrades

LEGH has been the subject of a number of research analyst reports. Zacks Research lowered shares of Legacy Housing from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Wall Street Zen raised Legacy Housing from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Finally, Weiss Ratings raised Legacy Housing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 21st. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Legacy Housing has a consensus rating of “Hold” and an average price target of $21.00.

About Legacy Housing

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.