Cavco Industries (NASDAQ:CVCO) Issues Quarterly Earnings Results, Misses Estimates By $0.86 EPS

Cavco Industries (NASDAQ:CVCO) released its quarterly earnings results on Thursday. The construction company reported $4.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86), Zacks reports. The company had revenue of $477.60 million for the quarter, compared to analyst estimates of $487.80 million. Cavco Industries had a net margin of 8.79% and a return on equity of 15.46%. During the same quarter last year, the firm posted $5.29 EPS.

Cavco Industries Stock Down 4.6 %

Cavco Industries stock traded down $18.40 during midday trading on Friday, hitting $382.97. 99,190 shares of the stock were exchanged, compared to its average volume of 65,240. Cavco Industries has a 52-week low of $233.84 and a 52-week high of $426.41. The business’s 50-day moving average price is $364.96 and its 200-day moving average price is $364.75. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 20.58 and a beta of 1.23.

Analyst Upgrades and Downgrades

Separately, Wedbush reaffirmed an “outperform” rating and set a $425.00 target price on shares of Cavco Industries in a research report on Friday.

Cavco Industries Company Profile

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.