Legacy Housing (NASDAQ:LEGH) Sees Large Volume Increase - Should You Buy?

Key Points

• Legacy Housing shares rose 1.7% to $29.77 amid a 27% increase in trading volume, with 130,395 shares changing hands.
• The company exceeded quarterly expectations, reporting $0.99 EPS versus the $0.72 consensus and revenue of $66.35 million versus $64.08 million expected.
• Analyst sentiment remains cautious: four analysts rate the stock “Hold,” with a consensus target price of $21.00—well below its current price—despite institutional investors owning 89.35% of shares.

Legacy Housing Corporation (NASDAQ:LEGH - Get Free Report) saw strong trading volume on Friday . 130,395 shares traded hands during trading, an increase of 27% from the previous session's volume of 102,348 shares.The stock last traded at $29.77 and had previously closed at $28.90.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LEGH shares. B. Riley Financial restated a "neutral" rating on shares of Legacy Housing in a report on Thursday, May 14th. Weiss Ratings upgraded shares of Legacy Housing from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 10th. Finally, Zacks Research downgraded shares of Legacy Housing from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, Legacy Housing currently has a consensus rating of "Hold" and an average target price of $21.00.

Legacy Housing Stock Up 1.7%

The business's 50-day moving average price is $25.68 and its 200-day moving average price is $22.84. The firm has a market capitalization of $699.04 million, a PE ratio of 13.60 and a beta of 0.78.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.27. Legacy Housing had a net margin of 28.56% and a return on equity of 9.67%. The company had revenue of $66.35 million during the quarter, compared to the consensus estimate of $64.08 million. On average, analysts anticipate that Legacy Housing Corporation will post 2.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Legacy Housing

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Legacy Housing by 7.0% in the first quarter. Dimensional Fund Advisors LP now owns 955,771 shares of the company's stock worth $19,526,000 after acquiring an additional 62,224 shares in the last quarter. Advisory Research Inc. increased its stake in Legacy Housing by 11.0% in the fourth quarter. Advisory Research Inc. now owns 730,944 shares of the company's stock valued at $14,268,000 after acquiring an additional 72,573 shares during the period. GW&K Investment Management LLC raised its holdings in shares of Legacy Housing by 6.0% in the 4th quarter. GW&K Investment Management LLC now owns 701,364 shares of the company's stock worth $13,691,000 after buying an additional 39,846 shares in the last quarter. Punch & Associates Investment Management Inc. raised its stake in Legacy Housing by 2.3% during the third quarter. Punch & Associates Investment Management Inc. now owns 429,110 shares of the company's stock worth $11,805,000 after acquiring an additional 9,590 shares in the last quarter. Finally, Rock Creek Group LP increased its position in shares of Legacy Housing by 620.6% during the 4th quarter. Rock Creek Group LP now owns 250,000 shares of the company's stock worth $4,880,000 after purchasing an additional 215,307 shares in the last quarter. 89.35% of the stock is currently owned by institutional investors and hedge funds.

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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