Legacy Housing initiated with a Buy at Texas Capital

Texas Capital initiated coverage of Legacy Housing (LEGH) with a Buy rating and $29 price target Legacy is a producer of manufactured homes in the U.S. with three plants located in Texas and Georgia, the analyst tells investors in a research note. The firm says that under Duncan Bates, the company has strengthened its leadership, expanded sales initiatives, improved quality control, and most recently simplified its product portfolio. These actions have repositioned Legacy for growth, improved profitability and reaccelerating book value creation, contends Texas.