Brokers Set Expectations for Legacy Housing FY2024 Earnings

Legacy Housing Co. (NASDAQ:LEGH) – Wedbush cut their FY2024 EPS estimates for Legacy Housing in a research note issued to investors on Wednesday, November 13th. Wedbush analyst J. Mccanless now expects 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 reiterated 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 Price Performance

LEGH stock opened at $25.20 on Monday. Legacy Housing has a 1-year low of $19.42 and a 1-year high of $29.31. The firm has a fifty day moving average price of $26.67 and a two-hundred day moving average price of $25.28. The firm has a market cap of $608.83 million, a price-to-earnings ratio of 11.59 and a beta of 1.09.

Hedge Funds Weigh In On Legacy Housing

Institutional investors have recently modified their holdings of the company. Innealta Capital LLC bought a new position in shares of Legacy Housing during the second quarter worth about $28,000. EntryPoint Capital LLC acquired a new stake in Legacy Housing in the first quarter worth about $45,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Legacy Housing in the third quarter worth about $85,000. SG Americas Securities LLC acquired a new stake in Legacy Housing in the third quarter worth about $121,000. Finally, BNP Paribas Financial Markets lifted its holdings in Legacy Housing by 17.8% in the third quarter. BNP Paribas Financial Markets now owns 5,600 shares of the company’s stock worth $153,000 after purchasing an additional 848 shares during the period. Institutional investors own 89.35% of the company’s stock.

Insider Transactions at Legacy Housing

In other news, Chairman Curtis Drew Hodgson sold 16,268 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $27.52, for a total transaction of $447,695.36. Following the completion of the transaction, the chairman now owns 526,473 shares in the company, valued at approximately $14,488,536.96. This represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 150,495 shares of company stock worth $4,026,419. Insiders own 30.60% 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.