Legacy Housing (NASDAQ:LEGH) Issues Quarterly Earnings Results, Beats Estimates By $0.27 EPS

Legacy Housing (NASDAQ:LEGHGet Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.27, FiscalAI reports. The business had revenue of $66.35 million for the quarter, compared to analysts’ expectations of $64.08 million. Legacy Housing had a return on equity of 9.67% and a net margin of 28.56%.

Legacy Housing Trading Up 1.0%

Shares of NASDAQ:LEGH traded up $0.30 during mid-day trading on Friday, reaching $29.20. The stock had a trading volume of 287,096 shares, compared to its average volume of 103,232. The firm has a 50 day simple moving average of $25.68 and a two-hundred day simple moving average of $22.84. Legacy Housing has a twelve month low of $18.28 and a twelve month high of $31.34. The firm has a market cap of $694.38 million, a PE ratio of 13.46 and a beta of 0.78.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

A number of research firms have issued reports on LEGH. 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 report 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 note on Friday, July 10th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.00.

Read Our Latest Report on LEGH

Legacy Housing Company Profile

(Get Free Report)

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.

See Also

Earnings History for Legacy Housing (NASDAQ:LEGH)

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