Legacy Housing (NASDAQ:LEGH) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Key Points

• Legacy Housing reported quarterly EPS of $0.46, topping analyst estimates by $0.04, even though revenue came in below expectations at $34.37 million versus the $38.82 million forecast.
• The stock rose to $23.28 on Friday, with trading volume well above average; the company now has a market cap of about $554.3 million and a price-to-earnings ratio of 13.08.
• Wall Street sentiment remains cautious, with a Hold consensus rating and an average target price of $21.00 following recent analyst updates.

Legacy Housing (NASDAQ:LEGH - Get Free Report) posted its earnings results on Thursday. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04, Zacks reports. The business had revenue of $34.37 million during the quarter, compared to the consensus estimate of $38.82 million. Legacy Housing had a return on equity of 8.15% and a net margin of 26.01%.

Legacy Housing Price Performance

NASDAQ LEGH traded up $1.71 on Friday, hitting $23.28. 200,224 shares of the company's stock were exchanged, compared to its average volume of 62,347. The firm's 50-day moving average price is $20.69 and its two-hundred day moving average price is $20.91. Legacy Housing has a fifty-two week low of $18.28 and a fifty-two week high of $29.45. The firm has a market cap of $554.30 million, a price-to-earnings ratio of 13.08 and a beta of 0.77.

Hedge Funds Weigh In On Legacy Housing

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. increased its position in Legacy Housing by 8.3% during the 4th quarter. Invesco Ltd. now owns 16,927 shares of the company's stock worth $330,000 after purchasing an additional 1,291 shares during the period. Susquehanna Portfolio Strategies LLC acquired a new position in Legacy Housing during the 4th quarter worth approximately $252,000. Millennium Management LLC increased its position in Legacy Housing by 32.1% during the 4th quarter. Millennium Management LLC now owns 81,468 shares of the company's stock worth $1,590,000 after purchasing an additional 19,793 shares during the period. Engineers Gate Manager LP increased its position in Legacy Housing by 12.5% during the 4th quarter. Engineers Gate Manager LP now owns 11,656 shares of the company's stock worth $228,000 after purchasing an additional 1,297 shares during the period. Finally, EMG Holdings L.P. acquired a new position in Legacy Housing during the 4th quarter worth approximately $342,000. Institutional investors and hedge funds own 89.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Weiss Ratings downgraded Legacy Housing from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday. Zacks Research raised Legacy Housing from a "strong sell" rating to a "hold" rating in a research note on Monday, January 12th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price 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.

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