Legacy Housing (NASDAQ:LEGH) Sets New 1-Year High at $27.19

Shares of Legacy Housing Co. (NASDAQ:LEGH) reached a new 52-week high during trading on Tuesday . The company traded as high as $27.19 and last traded at $27.19, with a volume of 8251 shares traded. The stock had previously closed at $26.71.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. B. Riley raised shares of Legacy Housing from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 14th. CJS Securities assumed coverage on shares of Legacy Housing in a research note on Friday, June 7th. They set an “outperform” rating and a $33.00 target price for the company. Finally, Wedbush reissued an “outperform” rating and set a $25.00 target price on shares of Legacy Housing in a research note on Friday, May 10th.

Legacy Housing Stock Up 2.3 %

The stock has a market capitalization of $655.42 million, a price-to-earnings ratio of 12.71 and a beta of 1.06. The business’s 50-day moving average is $23.68 and its two-hundred day moving average is $23.18. The company has a quick ratio of 2.88, a current ratio of 3.76 and a debt-to-equity ratio of 0.03.

Legacy Housing (NASDAQ:LEGH) last posted its quarterly 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 firm had revenue of $43.24 million for the quarter, compared to analyst estimates of $38.07 million. Legacy Housing had a net margin of 29.70% and a return on equity of 12.33%. During the same period in the previous year, the business posted $0.65 earnings per share. Equities analysts anticipate that Legacy Housing Co. will post 2.34 EPS for the current year.

Hedge Funds Weigh In On Legacy Housing

Institutional investors and hedge funds have recently bought and sold shares of the company. Voss Capital LLC boosted its holdings in Legacy Housing by 6.4% in the 4th quarter. Voss Capital LLC now owns 830,000 shares of the company’s stock valued at $20,933,000 after purchasing an additional 50,000 shares during the last quarter. Cerity Partners LLC acquired a new position in Legacy Housing in the 4th quarter valued at about $1,872,000. Jump Financial LLC acquired a new position in Legacy Housing in the 4th quarter valued at about $292,000. ABS Direct Equity Fund LLC acquired a new position in Legacy Housing in the 4th quarter valued at about $1,261,000. Finally, Cornercap Investment Counsel Inc. acquired a new position in Legacy Housing in the 4th quarter valued at about $511,000. 89.35% of the stock is currently owned by institutional investors and hedge funds.

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.