Legacy Housing (NASDAQ:LEGH) Coverage Initiated by Analysts at CJS Securities

CJS Securities began coverage on shares of Legacy Housing (NASDAQ:LEGHFree Report) in a report released on Friday, MarketBeat reports. The firm issued an outperform rating and a $33.00 price target on the stock.

Several other equities research analysts have also recently commented on the company. Wedbush reaffirmed an outperform rating and set a $25.00 target price on shares of Legacy Housing in a research note on Friday, May 10th. B. Riley upgraded shares of Legacy Housing from a hold rating to a strong-buy rating in a research report on Tuesday, May 14th.

View Our Latest Stock Analysis on Legacy Housing

Legacy Housing Stock Performance

NASDAQ:LEGH opened at $22.72 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.88 and a current ratio of 3.76. Legacy Housing has a fifty-two week low of $17.67 and a fifty-two week high of $26.50. The company has a 50 day simple moving average of $21.80 and a two-hundred day simple moving average of $23.13. The company has a market capitalization of $552.46 million, a PE ratio of 10.72 and a beta of 1.02.

Legacy Housing (NASDAQ:LEGHGet Free Report) last announced its earnings results on Thursday, May 9th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.24. The business had revenue of $43.24 million during the quarter, compared to the consensus estimate of $38.07 million. Legacy Housing had a net margin of 29.70% and a return on equity of 12.33%. During the same quarter last year, the firm earned $0.65 earnings per share. Research analysts anticipate that Legacy Housing will post 2.34 earnings per share for the current year.

Insider Activity

In related news, Chairman Curtis Drew Hodgson sold 11,975 shares of Legacy Housing stock in a transaction on Monday, March 11th. The shares were sold at an average price of $25.10, for a total value of $300,572.50. Following the completion of the sale, the chairman now owns 720,598 shares of the company’s stock, valued at approximately $18,087,009.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Chairman Curtis Drew Hodgson sold 11,975 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $25.10, for a total value of $300,572.50. Following the transaction, the chairman now owns 720,598 shares of the company’s stock, valued at approximately $18,087,009.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey Kyle Stouder acquired 4,900 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were bought at an average cost of $21.11 per share, with a total value of $103,439.00. Following the completion of the acquisition, the director now directly owns 5,975 shares in the company, valued at approximately $126,132.25. The disclosure for this purchase can be found here. Corporate insiders own 32.20% of the company’s stock.

Hedge Funds Weigh In On Legacy Housing

Hedge funds have recently bought and sold shares of the company. EntryPoint Capital LLC bought a new position in shares of Legacy Housing during the first quarter valued at about $45,000. SG Americas Securities LLC purchased a new position in shares of Legacy Housing in the 4th quarter worth approximately $143,000. BNP Paribas Financial Markets grew its holdings in shares of 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. Quadrature Capital Ltd purchased a new stake in shares of Legacy Housing during the first quarter valued at approximately $245,000. Finally, Jump Financial LLC bought a new stake in Legacy Housing during the fourth quarter worth $292,000. 89.35% of the stock is owned by hedge funds and other institutional investors.

About Legacy Housing

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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.

Further Reading

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