Cavco Industries (NASDAQ:CVCO) Announces Earnings Results, Beats Estimates By $2.01 EPS

Cavco Industries (NASDAQ:CVCO) issued its quarterly earnings data on Thursday. The construction company reported $6.90 EPS for the quarter, beating the consensus estimate of $4.89 by $2.01, Zacks reports. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO traded up $9.11 during trading on Thursday, reaching $476.82. The stock had a trading volume of 75,112 shares, compared to its average volume of 51,832. Cavco Industries has a 1-year low of $325.25 and a 1-year high of $544.08. The stock has a market cap of $3.87 billion, a PE ratio of 26.95 and a beta of 1.33. The business has a fifty day moving average price of $474.13 and a 200-day moving average price of $437.36.

Analysts Set New Price Targets

CVCO has been the topic of a number of recent analyst reports. Wedbush lowered Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 target price on the stock. in a research report on Tuesday, December 3rd. Craig Hallum increased their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, StockNews.com cut shares of Cavco Industries from a “buy” rating to a “hold” rating in a research note on Friday, December 20th.

Insider Activity at Cavco Industries

In other Cavco Industries news, Director Julia Sze sold 125 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $458.68, for a total value of $57,335.00. Following the completion of the sale, the director now owns 2,861 shares in the company, valued at approximately $1,312,283.48. This represents a 4.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan L. Blount sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total transaction of $353,775.00. Following the completion of the transaction, the director now directly owns 2,836 shares in the company, valued at $1,337,741.20. This trade represents a 20.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,850 shares of company stock valued at $889,417. 1.60% of the stock is owned by insiders.

About Cavco Industries

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.