As previously reported, Wedbush analyst Jay McCanless initiated coverage of Legacy Housing with an Outperform rating and $30 price target. Legacy, which produces manufactured housing, originates consumer loans on Legacy produced homes, and originates loans to manufactured home communities, provides an affordable housing solution and has been “consistently GAAP profitable since coming public in 2018,” the analyst tells investors. The firm expects this continues for “the foreseeable future” as it anticipates gross margins may trend back towards the high-20% range in FY24 to FY26.
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Read More on LEGH:
- Legacy Housing initiated with an Outperform at Wedbush
- Legacy Housing reports Q2 EPS 62c, consensus 62c
- Legacy Housing Corporation Reports Second Quarter 2023 Financial Results
- Legacy Housing Corporation Announces Timing of Second Quarter 2023 Earnings Release and Conference Call
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