Analysts Issue Forecasts for Legacy Housing FY2024 Earnings

Legacy Housing Co. (NASDAQ:LEGH) – Equities research analysts at B. Riley boosted their FY2024 earnings per share (EPS) estimates for shares of Legacy Housing in a research note issued to investors on Thursday, November 14th. B. Riley analyst A. Rygiel now anticipates that the company will post earnings of $2.40 per share for the year, up from their previous forecast of $2.35. B. Riley has a “Neutral” rating and a $29.00 price objective on the stock. The consensus estimate for Legacy Housing’s current full-year earnings is $2.55 per share. B. Riley also issued estimates for Legacy Housing’s Q4 2024 earnings at $0.51 EPS.

Separately, Wedbush reiterated an “outperform” rating and issued a $29.00 target price on shares of Legacy Housing in a research report on Friday, August 9th.

Legacy Housing Stock Performance

Shares of LEGH opened at $25.89 on Friday. The firm has a market capitalization of $625.50 million, a price-to-earnings ratio of 11.93 and a beta of 1.09. The stock’s fifty day moving average is $26.69 and its 200-day moving average is $25.19. Legacy Housing has a one year low of $19.42 and a one year high of $29.31.

Institutional Investors Weigh In On Legacy Housing

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Capital Management LLC bought a new stake in shares of Legacy Housing in the 1st quarter worth approximately $1,532,000. Vanguard Group Inc. boosted its holdings in Legacy Housing by 5.2% during the first quarter. Vanguard Group Inc. now owns 441,383 shares of the company’s stock worth $9,499,000 after buying an additional 21,995 shares in the last quarter. Progeny 3 Inc. acquired a new position in Legacy Housing in the second quarter worth approximately $1,019,000. Renaissance Technologies LLC increased its holdings in shares of Legacy Housing by 161.0% in the second quarter. Renaissance Technologies LLC now owns 40,200 shares of the company’s stock valued at $922,000 after buying an additional 24,800 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Legacy Housing during the 3rd quarter valued at $365,000. 89.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Curtis Drew Hodgson sold 16,268 shares of Legacy Housing stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $27.52, for a total transaction of $447,695.36. Following the transaction, the chairman now directly owns 526,473 shares of the company’s stock, valued at $14,488,536.96. The trade was a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 167,795 shares of company stock worth $4,477,603 over the last ninety days. Company insiders own 30.60% of the company’s stock.

Legacy Housing Company Profile

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.