B. Riley Analysts Raise Earnings Estimates for Legacy Housing Co. (NASDAQ:LEGH)

Legacy Housing Co. (NASDAQ:LEGH) – Analysts at B. Riley increased their FY2024 EPS estimates for shares of Legacy Housing in a report issued on Monday, August 12th. B. Riley analyst A. Rygiel now anticipates that the company will post earnings of $2.35 per share for the year, up from their previous estimate of $2.32. B. Riley has a “Neutral” rating and a $29.00 price objective on the stock. The consensus estimate for Legacy Housing’s current full-year earnings is $2.34 per share.

Legacy Housing (NASDAQ:LEGH) last released its earnings results on Thursday, August 8th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.07. The business had revenue of $42.50 million for the quarter, compared to analyst estimates of $46.35 million. Legacy Housing had a return on equity of 12.33% and a net margin of 29.70%. During the same quarter in the prior year, the company posted $0.60 earnings per share.

A number of other equities analysts also recently weighed in on the stock. CJS Securities started coverage on shares of Legacy Housing in a report on Friday, June 7th. They set an “outperform” rating and a $33.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and issued a $29.00 target price on shares of Legacy Housing in a report on Friday, August 9th.

Legacy Housing Trading Up 3.3 %

Shares of Legacy Housing stock opened at $26.31 on Wednesday. The stock has a market cap of $639.75 million, a P/E ratio of 12.41 and a beta of 1.06. The company has a quick ratio of 2.88, a current ratio of 3.76 and a debt-to-equity ratio of 0.03. Legacy Housing has a 12-month low of $17.67 and a 12-month high of $29.31. The business’s 50 day moving average is $24.62 and its 200-day moving average is $23.49.

Institutional Trading of Legacy Housing

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in Legacy Housing by 17.1% during the second quarter. Dimensional Fund Advisors LP now owns 609,217 shares of the company’s stock worth $13,975,000 after acquiring an additional 88,921 shares during the last quarter. Mill Road Capital Management LLC boosted its stake in Legacy Housing by 7.3% in the 4th quarter. Mill Road Capital Management LLC now owns 500,798 shares of the company’s stock valued at $12,630,000 after purchasing an additional 33,998 shares during the period. Vanguard Group Inc. grew its holdings in Legacy Housing by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 441,383 shares of the company’s stock valued at $9,499,000 after buying an additional 21,995 shares in the last quarter. American Century Companies Inc. grew its holdings in Legacy Housing by 1.1% in the 2nd quarter. American Century Companies Inc. now owns 180,736 shares of the company’s stock valued at $4,146,000 after buying an additional 2,014 shares in the last quarter. Finally, Cerity Partners LLC bought a new position in Legacy Housing during the 4th quarter worth $1,872,000. Institutional investors own 89.35% of the company’s stock.

About Legacy Housing

Legacy Housing Corporation engages in the building, sale, and financing of manufactured homes and tiny houses primarily in the southern United States. It manufactures and provides for the transport of mobile homes, including 1 to 5 bedrooms with 1 to 3 1/2 bathrooms; and provides wholesale financing to dealers and mobile home parks, as well as retail financing to consumers.