Legacy Housing (NASDAQ:LEGH) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Legacy Housing (NASDAQ:LEGH) released its quarterly earnings results on Thursday. The company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.07), Fidelity Earnings reports. The firm had revenue of $41.94 million during the quarter, compared to the consensus estimate of $44.22 million.

Shares of Legacy Housing stock traded down $0.02 during midday trading on Friday, reaching $14.71. The company had a trading volume of 21,700 shares, compared to its average volume of 56,662. The stock has a fifty day moving average price of $15.71 and a 200 day moving average price of $13.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 0.79. The firm has a market cap of $348.59 million and a PE ratio of 13.62. Legacy Housing has a fifty-two week low of $8.93 and a fifty-two week high of $17.40.

In related news, VP Neal J. Suit sold 6,000 shares of Legacy Housing stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $12.76, for a total value of $76,560.00. Following the transaction, the vice president now directly owns 5,971 shares of the company’s stock, valued at $76,189.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Curtis Drew Hodgson sold 6,924 shares of Legacy Housing stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $16.39, for a total value of $113,484.36. Over the last ninety days, insiders sold 1,671,596 shares of company stock worth $23,915,122. 49.10% of the stock is owned by insiders.

LEGH has been the topic of several research reports. B. Riley initiated coverage on Legacy Housing in a report on Friday. They set a “buy” rating and a $18.00 price target on the stock. Lake Street Capital initiated coverage on Legacy Housing in a report on Tuesday, September 17th. They set a “buy” rating on the stock. Oak Ridge Finl. reaffirmed a “buy” rating on shares of Legacy Housing in a research note on Thursday, August 15th. Finally, Zacks Investment Research lowered Legacy Housing from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th.

About Legacy Housing

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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