Legacy Housing (NASDAQ:LEGH) Announces Earnings Results

Legacy Housing (NASDAQ:LEGH) announced 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. The firm had revenue of $66.35 million during the quarter, compared to analyst estimates of $59.91 million. Legacy Housing had a return on equity of 8.08% and a net margin of 26.01%.

Legacy Housing Stock Up 1.0%

LEGH traded up $0.26 during trading hours on Wednesday, hitting $27.52. The stock had a trading volume of 144,766 shares, compared to its average volume of 101,502. Legacy Housing has a 1 year low of $18.28 and a 1 year high of $29.45. The company’s fifty day simple moving average is $25.59 and its 200 day simple moving average is $22.79. The stock has a market cap of $654.43 million, a PE ratio of 15.46 and a beta of 0.78.

Wall Street Analyst Weigh In

LEGH has been the subject of several research reports. B. Riley Financial restated a “neutral” rating on shares of Legacy Housing in a research report on Thursday, May 14th. Zacks Research cut shares of Legacy Housing from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings raised shares of Legacy Housing from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.00.

Hedge Funds Weigh In On Legacy Housing

Large investors have recently modified their holdings of the business. Advisory Research Inc. boosted its holdings in Legacy Housing by 11.0% in the 4th quarter. Advisory Research Inc. now owns 730,944 shares of the company’s stock worth $14,268,000 after buying an additional 72,573 shares during the period. Rothschild Wealth LLC bought a new stake in Legacy Housing during the 4th quarter valued at $1,399,000. Royal Bank of Canada lifted its position in shares of 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 in the last quarter. GW&K Investment Management LLC lifted its position in shares of Legacy Housing by 6.0% during the fourth quarter. GW&K Investment Management LLC now owns 701,364 shares of the company’s stock worth $13,691,000 after acquiring an additional 39,846 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted 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 worth $2,743,000 after acquiring an additional 34,745 shares during the period. Hedge funds and other institutional investors own 89.35% of the company’s stock.

About Legacy Housing

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.