Legacy Housing (NASDAQ:LEGH) Reaches New 52-Week High at $27.19

Legacy Housing Co. (NASDAQ:LEGH) shares hit 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. The stock had previously closed at $26.71.

Wall Street Analysts Forecast Growth

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

Legacy Housing Trading Up 2.3 %

The firm has a fifty day moving average price of $23.68 and a 200-day moving average price of $23.18. The company has a market capitalization of $655.42 million, a P/E ratio of 12.71 and a beta of 1.06. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.76 and a quick ratio of 2.88.

Legacy Housing (NASDAQ:LEGH) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.24. Legacy Housing had a return on equity of 12.33% and a net margin of 29.70%. The business had revenue of $43.24 million during the quarter, compared to analyst estimates of $38.07 million. During the same period in the prior year, the company earned $0.65 earnings per share. On average, equities research analysts anticipate that Legacy Housing Co. will post 2.34 earnings per share for the current year.

Institutional Investors Weigh In On Legacy Housing

Several institutional investors have recently made changes to their positions in LEGH. SG Americas Securities LLC purchased a new stake in shares of Legacy Housing during the fourth quarter worth $143,000. Cerity Partners LLC purchased a new stake in shares of Legacy Housing during the fourth quarter worth $1,872,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of Legacy Housing during the fourth quarter worth $511,000. Voss Capital LLC lifted its position in shares of Legacy Housing by 6.4% during the fourth quarter. Voss Capital LLC now owns 830,000 shares of the company’s stock worth $20,933,000 after acquiring an additional 50,000 shares in the last quarter. Finally, ABS Direct Equity Fund LLC purchased a new stake in shares of Legacy Housing in the fourth quarter worth $1,261,000. Hedge funds and other institutional investors own 89.35% of the company’s stock.

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.