Legacy Housing (NASDAQ:LEGH) Posts Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Legacy Housing (NASDAQ:LEGH) posted its quarterly earnings data on Thursday. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08), FiscalAI reports. Legacy Housing had a return on equity of 8.15% and a net margin of 25.41%.The firm had revenue of $38.26 million during the quarter, compared to analyst estimates of $44.56 million.

Legacy Housing Stock Down 3.2%

Shares of LEGH stock opened at $18.79 on Friday. The company has a market cap of $448.52 million, a PE ratio of 10.86 and a beta of 0.78. Legacy Housing has a 12 month low of $18.28 and a 12 month high of $29.45. The business’s 50 day moving average is $21.20 and its two-hundred day moving average is $22.41.

Hedge Funds Weigh In On Legacy Housing

Several institutional investors and hedge funds have recently made changes to their positions in LEGH. Quarry LP acquired a new position in shares of Legacy Housing during the 3rd quarter worth about $26,000. Tower Research Capital LLC TRC lifted its stake in Legacy Housing by 414.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,408 shares of the company’s stock valued at $55,000 after purchasing an additional 1,940 shares during the last quarter. Aquatic Capital Management LLC lifted its stake in Legacy Housing by 2,156.0% in the 3rd quarter. Aquatic Capital Management LLC now owns 4,873 shares of the company’s stock valued at $134,000 after purchasing an additional 4,657 shares during the last quarter. Strs Ohio bought a new position in Legacy Housing during the first quarter worth about $124,000. Finally, State of Wyoming grew its holdings in Legacy Housing by 99.5% during the second quarter. State of Wyoming now owns 8,946 shares of the company’s stock worth $203,000 after purchasing an additional 4,462 shares during the period. Institutional investors and hedge funds own 89.35% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LEGH shares. Weiss Ratings reissued a “hold (c)” rating on shares of Legacy Housing in a research note on Monday, December 22nd. Zacks Research raised Legacy Housing from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.00.

Legacy Housing Company Profile

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.