FY2024 EPS Estimates for Legacy Housing Lowered by Analyst

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

Legacy Housing Trading Down 1.5 %

LEGH opened at $25.50 on Monday. The company has a market cap of $616.03 million, a P/E 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. The business’s 50-day moving average price is $26.69 and its 200-day moving average price is $25.25.

Insider Buying and Selling at Legacy Housing

In other Legacy Housing news, Chairman Curtis Drew Hodgson sold 17,300 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now owns 665,141 shares of the company’s stock, valued at $17,060,866.65. This represents a 2.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 150,495 shares of company stock valued at $4,026,419 in the last quarter. Company insiders own 30.60% of the company’s stock.

Hedge Funds Weigh In On Legacy Housing

Several hedge funds have recently made changes to their positions in LEGH. BNP Paribas Financial Markets boosted its holdings in Legacy Housing by 79.0% in the first quarter. BNP Paribas Financial Markets now owns 5,708 shares of the company’s stock valued at $123,000 after acquiring an additional 2,520 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Legacy Housing by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 441,383 shares of the company’s stock valued at $9,499,000 after purchasing an additional 21,995 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Legacy Housing during the first quarter valued at about $45,000. Quadrature Capital Ltd bought a new position in Legacy Housing in the first quarter worth about $245,000. Finally, SG Capital Management LLC purchased a new stake in Legacy Housing in the first quarter worth about $1,532,000. 89.35% of the stock is owned by hedge funds and other 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.