Legacy Housing (NASDAQ:LEGH) Issues Earnings Results

Legacy Housing (NASDAQ:LEGH) posted its quarterly earnings data on Thursday. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08), FiscalAI reports. Legacy Housing had a return on equity of 9.47% and a net margin of 26.66%.The firm had revenue of $38.26 million for the quarter, compared to the consensus estimate of $44.56 million.

Legacy Housing Trading Down 1.5%

Legacy Housing stock traded down $0.29 during trading hours on Thursday, reaching $19.41. 90,464 shares of the stock were exchanged, compared to its average volume of 98,885. Legacy Housing has a twelve month low of $18.80 and a twelve month high of $29.45. The company has a market cap of $463.32 million, a P/E ratio of 9.95 and a beta of 0.78. The stock has a 50 day moving average of $21.22 and a two-hundred day moving average of $22.50.

Institutional Trading of Legacy Housing

Large investors have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of Legacy Housing by 21.9% during the first quarter. Royal Bank of Canada now owns 105,440 shares of the company’s stock worth $2,659,000 after purchasing an additional 18,920 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Legacy Housing by 4.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 54,434 shares of the company’s stock valued at $1,373,000 after buying an additional 2,214 shares during the last quarter. Jane Street Group LLC acquired a new stake in Legacy Housing during the 1st quarter worth approximately $570,000. Strs Ohio acquired a new stake in Legacy Housing during the 1st quarter worth approximately $124,000. Finally, Legal & General Group Plc grew its holdings in Legacy Housing by 15.7% during the 2nd quarter. Legal & General Group Plc now owns 8,958 shares of the company’s stock worth $203,000 after acquiring an additional 1,216 shares during the last quarter. Institutional investors and hedge funds own 89.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LEGH shares. B. Riley Financial decreased their price target on shares of Legacy Housing from $26.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Legacy Housing in a research note on Monday, December 22nd. Finally, Zacks Research upgraded shares of Legacy Housing from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $21.00.

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.