Legacy Housing Corp (NASDAQ:LEGH) Given $17.00 Consensus Target Price by Brokerages

Shares of Legacy Housing Corp (NASDAQ:LEGH) have received an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a one year consensus price target of $17.00 for the company and are anticipating that the company will post $0.32 EPS for the current quarter, according to Zacks. Zacks has also assigned Legacy Housing an industry rank of 101 out of 256 based on the ratings given to its competitors.

Several brokerages have commented on LEGH. Oak Ridge Finl. reaffirmed a “buy” rating on shares of Legacy Housing in a research report on Thursday, August 15th. Zacks Investment Research raised shares of Legacy Housing from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Saturday, August 17th.

In other news, Chairman Curtis Drew Hodgson sold 100,000 shares of Legacy Housing stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $12.98, for a total value of $1,298,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder William G. Shipley sold 4,000 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $12.87, for a total value of $51,480.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 286,180 shares of company stock valued at $3,710,057.

A number of institutional investors and hedge funds have recently bought and sold shares of LEGH. Boston Partners grew its holdings in shares of Legacy Housing by 166.4% in the second quarter. Boston Partners now owns 203,258 shares of the company’s stock worth $2,531,000 after purchasing an additional 126,958 shares during the last quarter. Royal Bank of Canada bought a new stake in shares of Legacy Housing during the 2nd quarter valued at about $640,000. Marshall Wace LLP purchased a new position in shares of Legacy Housing during the second quarter valued at about $226,000. Gratia Capital LLC increased its position in shares of Legacy Housing by 238.1% during the second quarter. Gratia Capital LLC now owns 27,048 shares of the company’s stock valued at $337,000 after buying an additional 19,048 shares during the period. Finally, Rock Creek Group LP bought a new position in Legacy Housing in the second quarter worth about $755,000. Institutional investors and hedge funds own 16.42% of the company’s stock.

Shares of NASDAQ:LEGH traded up $0.12 during trading on Friday, hitting $15.25. 25,235 shares of the company’s stock traded hands, compared to its average volume of 65,077. The company has a current ratio of 1.93, a quick ratio of 0.79 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $13.34 and a 200-day moving average price of $12.76. Legacy Housing has a 52 week low of $8.93 and a 52 week high of $15.36. The company has a market cap of $370.60 million and a price-to-earnings ratio of 14.25.

Legacy Housing (NASDAQ:LEGH) last announced its earnings results on Tuesday, August 13th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.31 by $0.04. The company had revenue of $45.76 million for the quarter, compared to analyst estimates of $42.84 million. On average, analysts predict that Legacy Housing will post 1.22 earnings per share for the current fiscal year.

Legacy Housing Company Profile

Legacy Housing Corporation builds, sells, and finances manufactured homes and tiny houses primarily in the southern United States. The company manufactures and provides for the transport of mobile homes; and offers wholesale financing to dealers and mobile home parks, as well as a range of homes, including 1 to 5 bedrooms, with 1 to 3 1/2 bathrooms.

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