Legacy Housing (NASDAQ:LEGH) Shares Gap Up – Should You Buy?

Shares of Legacy Housing Corporation (NASDAQ:LEGH) gapped up prior to trading on Monday . The stock had previously closed at $21.57, but opened at $23.34. Legacy Housing shares last traded at $23.4750, with a volume of 1,613 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Legacy Housing from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $21.00.

Legacy Housing Stock Performance

The business’s 50 day moving average price is $20.73 and its 200-day moving average price is $20.89. The firm has a market cap of $528.63 million, a price-to-earnings ratio of 12.49 and a beta of 0.77.

Legacy Housing (NASDAQ:LEGH) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. The business had revenue of $34.37 million for the quarter, compared to analyst estimates of $38.82 million. Legacy Housing had a return on equity of 8.08% and a net margin of 26.01%. On average, analysts forecast that Legacy Housing Corporation will post 2.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Legacy Housing

A number of hedge funds have recently made changes to their positions in the business. Yacktman Asset Management LP increased its position in Legacy Housing by 192.8% in the 4th quarter. Yacktman Asset Management LP now owns 175,675 shares of the company’s stock valued at $3,429,000 after acquiring an additional 115,675 shares during the period. Tudor Investment Corp ET AL grew its stake in shares of Legacy Housing by 197.5% in the third quarter. Tudor Investment Corp ET AL now owns 44,974 shares of the company’s stock worth $1,237,000 after purchasing an additional 29,856 shares in the last quarter. North Star Investment Management Corp. acquired a new position in shares of Legacy Housing during the fourth quarter valued at $547,000. Teton Advisors LLC acquired a new position in shares of Legacy Housing during the third quarter valued at $1,100,000. Finally, Villanova Investment Management Co LLC raised its stake in shares of Legacy Housing by 36.2% during the third quarter. Villanova Investment Management Co LLC now owns 126,671 shares of the company’s stock valued at $3,485,000 after purchasing an additional 33,644 shares in the last quarter. Institutional investors own 89.35% of the company’s stock.

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.