Legacy Housing Corporation (NASDAQ:LEGH – Get Free Report) gapped up prior to trading on Tuesday. The stock had previously closed at $29.36, but opened at $32.51. Legacy Housing shares last traded at $32.0650, with a volume of 8,806 shares traded.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on LEGH. Zacks Research cut Legacy Housing from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Legacy Housing from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Finally, Weiss Ratings raised shares of Legacy Housing from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 21st. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $21.00.
Get Our Latest Stock Analysis on Legacy Housing
Legacy Housing Trading Down 1.8%
The firm has a 50-day simple moving average of $28.25 and a two-hundred day simple moving average of $24.50. The company has a market capitalization of $751.33 million, a price-to-earnings ratio of 14.58 and a beta of 0.75.
Legacy Housing (NASDAQ:LEGH – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.27. The company 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, sell-side analysts forecast that Legacy Housing Corporation will post 2.32 earnings per share for the current year.
Institutional Trading of Legacy Housing
Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Legacy Housing during the 2nd quarter worth $16,714,000. Philadelphia Financial Management of San Francisco LLC bought a new stake in Legacy Housing in the second quarter worth $11,937,745. Punch & Associates Investment Management Inc. acquired a new position in Legacy Housing during the second quarter worth $11,235,000. Bard Associates Inc. acquired a new position in Legacy Housing during the second quarter worth $4,720,000. Finally, Dimensional Fund Advisors LP increased its position in Legacy Housing by 7.0% during the first quarter. Dimensional Fund Advisors LP now owns 955,771 shares of the company’s stock worth $19,526,000 after buying an additional 62,224 shares during the last quarter. 89.35% of the stock is owned by institutional investors.
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.
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