Legacy Housing (NASDAQ:LEGH) Announces Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Legacy Housing (NASDAQ:LEGH - Get Free Report) announced its earnings results on Thursday. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.24, Zacks reports. The company had revenue of $43.24 million during the quarter, compared to analyst estimates of $38.07 million. Legacy Housing had a net margin of 28.79% and a return on equity of 12.99%. During the same quarter last year, the firm posted $0.65 earnings per share.

Legacy Housing Stock Up 10.7 %

Shares of LEGH stock traded up $2.27 during trading on Friday, reaching $23.41. The company's stock had a trading volume of 343,225 shares, compared to its average volume of 72,849. The company has a market capitalization of $571.20 million, a price-to-earnings ratio of 10.79 and a beta of 0.95. Legacy Housing has a 1-year low of $17.67 and a 1-year high of $26.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.89 and a quick ratio of 2.00. The stock's 50-day moving average price is $21.59 and its 200 day moving average price is $22.63.

Insider Buying and Selling at Legacy Housing

In related news, Chairman Curtis Drew Hodgson sold 17,400 shares of Legacy Housing stock in a transaction on Monday, February 12th. The stock was sold at an average price of $25.57, for a total value of $444,918.00. Following the completion of the transaction, the chairman now directly owns 784,773 shares in the company, valued at $20,066,645.61. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Legacy Housing news, Director Jeffrey Kyle Stouder purchased 5,050 shares of the business's stock in a transaction on Tuesday, March 26th. The shares were bought at an average cost of $19.90 per share, for a total transaction of $100,495.00. Following the completion of the purchase, the director now directly owns 11,025 shares in the company, valued at $219,397.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Curtis Drew Hodgson sold 17,400 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.57, for a total value of $444,918.00. Following the completion of the transaction, the chairman now owns 784,773 shares in the company, valued at approximately $20,066,645.61. The disclosure for this sale can be found here. Insiders sold 131,175 shares of company stock valued at $3,259,339 in the last 90 days. Company insiders own 32.20% of the company's stock.

Analyst Ratings Changes

Separately, Wedbush restated an "outperform" rating and set a $25.00 price target on shares of Legacy Housing in a research report on Friday.

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.

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