FY2024 EPS Estimates for Legacy Housing Raised by Analyst

Legacy Housing Co. (NASDAQ:LEGH) – Analysts at B. Riley lifted their FY2024 earnings per share (EPS) estimates for Legacy Housing in a research report issued to clients and investors on Thursday, November 14th. B. Riley analyst A. Rygiel now forecasts 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 restated an “outperform” rating and issued a $29.00 target price on shares of Legacy Housing in a research note on Friday, August 9th.

Legacy Housing Stock Performance

NASDAQ:LEGH opened at $25.90 on Friday. The company’s 50-day simple moving average is $26.68 and its 200-day simple moving average is $25.14. Legacy Housing has a fifty-two week low of $19.42 and a fifty-two week high of $29.31. The stock has a market capitalization of $625.74 million, a P/E ratio of 11.94 and a beta of 1.09.

Insiders Place Their Bets

In other Legacy Housing news, Chairman Curtis Drew Hodgson sold 13,387 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $27.73, for a total transaction of $371,221.51. Following the transaction, the chairman now owns 684,486 shares in the company, valued at approximately $18,980,796.78. This represents a 1.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 167,795 shares of company stock valued at $4,477,603. 30.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Legacy Housing

A number of large investors have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new stake in Legacy Housing during the 2nd quarter worth about $28,000. EntryPoint Capital LLC acquired a new stake in shares of Legacy Housing during the first quarter worth about $45,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Legacy Housing in the third quarter valued at approximately $85,000. SG Americas Securities LLC acquired a new position in Legacy Housing in the 3rd quarter worth approximately $121,000. Finally, BNP Paribas Financial Markets raised its position in Legacy Housing by 79.0% during the 1st quarter. BNP Paribas Financial Markets now owns 5,708 shares of the company’s stock worth $123,000 after buying an additional 2,520 shares during the last quarter. 89.35% of the stock is owned by hedge funds and other institutional investors.

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.