FY2024 EPS Estimates for Legacy Housing Lowered by Analyst

Legacy Housing Co. (NASDAQ:LEGH) – Equities researchers at Wedbush reduced their FY2024 earnings estimates for Legacy Housing in a research report issued on Wednesday, November 13th. Wedbush analyst J. Mccanless now expects that the company will post earnings per share of $2.54 for the year, down from their prior estimate of $2.75. Wedbush currently 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 reaffirmed a “neutral” rating and set a $29.00 target price (up previously from $25.00) on shares of Legacy Housing in a research note on Monday, August 12th.

Legacy Housing Stock Performance

Shares of NASDAQ LEGH opened at $25.89 on Monday. Legacy Housing has a fifty-two week low of $19.42 and a fifty-two week high of $29.31. The company has a 50 day simple moving average of $26.69 and a two-hundred day simple moving average of $25.22. The company has a market capitalization of $625.50 million, a price-to-earnings ratio of 11.93 and a beta of 1.09.

Insider Activity at Legacy Housing

In related news, Chairman Curtis Drew Hodgson sold 17,300 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were 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 $17,060,866.65. This trade represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 150,495 shares of company stock valued at $4,026,419 over the last 90 days. Corporate insiders own 30.60% of the company’s stock.

Institutional Investors Weigh In On Legacy Housing

Several institutional investors and hedge funds have recently made changes to their positions in LEGH. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Legacy Housing during the third quarter valued at approximately $3,211,000. Cerity Partners LLC increased its position in shares of Legacy Housing by 141.3% during the third quarter. Cerity Partners LLC now owns 178,276 shares of the company’s stock valued at $4,876,000 after acquiring an additional 104,386 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Legacy Housing by 17.1% in the second quarter. Dimensional Fund Advisors LP now owns 609,217 shares of the company’s stock worth $13,975,000 after purchasing an additional 88,921 shares during the last quarter. SG Capital Management LLC purchased a new stake in Legacy Housing in the first quarter worth approximately $1,532,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Legacy Housing by 193.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 91,453 shares of the company’s stock worth $2,501,000 after purchasing an additional 60,292 shares during the last quarter. Institutional investors own 89.35% 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.