FY2024 EPS Estimates for Legacy Housing Decreased by Analyst

Legacy Housing Co. (NASDAQ:LEGH) – Research analysts at Wedbush reduced their FY2024 earnings estimates for Legacy Housing in a research note issued to investors on Wednesday, November 13th. Wedbush analyst J. Mccanless now forecasts that the company will post earnings per share of $2.54 for the year, down from their prior forecast of $2.75. Wedbush has a “Outperform” rating and a $29.00 price objective on the stock. The consensus estimate for Legacy Housing’s current full-year earnings is $2.47 per share. Wedbush also issued estimates for Legacy Housing’s Q4 2024 earnings at $0.64 EPS, Q1 2025 earnings at $0.65 EPS, Q2 2025 earnings at $0.66 EPS, Q3 2025 earnings at $0.65 EPS, Q4 2025 earnings at $0.67 EPS, FY2025 earnings at $2.63 EPS and FY2026 earnings at $2.73 EPS.

Separately, B. Riley reissued a “neutral” rating and set a $29.00 target price (up previously from $25.00) on shares of Legacy Housing in a report on Monday, August 12th.

Legacy Housing Trading Down 1.5 %

LEGH opened at $25.50 on Monday. The company has a 50 day moving average of $26.69 and a 200 day moving average of $25.25. The company has a market cap of $616.03 million, a PE ratio of 11.81 and a beta of 1.09. Legacy Housing has a 12 month low of $19.42 and a 12 month high of $29.31.

Insider Activity

In related news, Chairman Curtis Drew Hodgson sold 17,300 shares of Legacy Housing stock in a transaction on Monday, September 9th. The stock was sold at an average price of $25.65, for a total transaction of $443,745.00. Following the completion of the sale, the chairman now owns 665,141 shares of the company’s stock, valued at approximately $17,060,866.65. This trade represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 150,495 shares of company stock worth $4,026,419 over the last ninety days. Company insiders own 30.60% of the company’s stock.

Hedge Funds Weigh In On Legacy Housing

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in shares of Legacy Housing by 17.8% during the 3rd quarter. Geode Capital Management LLC now owns 269,325 shares of the company’s stock valued at $7,367,000 after acquiring an additional 40,729 shares during the last quarter. ABS Direct Equity Fund LLC lifted its position in Legacy Housing by 3.3% during the third quarter. ABS Direct Equity Fund LLC now owns 50,000 shares of the company’s stock valued at $1,368,000 after purchasing an additional 1,574 shares during the last quarter. Barclays PLC grew its stake in Legacy Housing by 294.1% in the 3rd quarter. Barclays PLC now owns 17,338 shares of the company’s stock worth $474,000 after buying an additional 12,939 shares in the last quarter. State Street Corp grew its stake in Legacy Housing by 5.9% in the 3rd quarter. State Street Corp now owns 207,972 shares of the company’s stock worth $5,688,000 after buying an additional 11,599 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in shares of Legacy Housing in the 3rd quarter worth $3,211,000. 89.35% of the stock is currently owned by institutional investors.

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.