Cavco Industries (NASDAQ:CVCO) Announces Earnings Results

Cavco Industries (NASDAQ:CVCO) posted its earnings results on Thursday. The construction company reported $7.17 EPS for the quarter, beating analysts’ consensus estimates of $5.52 by $1.65, Zacks reports. Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%.

Cavco Industries Trading Up 2.8%

Shares of CVCO traded up $14.68 during mid-day trading on Thursday, hitting $547.25. The company’s stock had a trading volume of 97,519 shares, compared to its average volume of 143,986. The firm has a 50-day simple moving average of $549.30 and a 200 day simple moving average of $552.99. The firm has a market capitalization of $4.21 billion, a P/E ratio of 23.81 and a beta of 1.27. Cavco Industries has a 1-year low of $443.33 and a 1-year high of $713.01.

Insider Transactions at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 342 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $592.00, for a total transaction of $202,464.00. Following the completion of the sale, the chief accounting officer directly owned 736 shares in the company, valued at $435,712. This represents a 31.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on CVCO shares. Northland Securities initiated coverage on shares of Cavco Industries in a research note on Wednesday. They set an “outperform” rating and a $650.00 price objective for the company. Zelman & Associates lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 6th. Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 29th. Weiss Ratings raised Cavco Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, September 29th. Finally, Oppenheimer started coverage on shares of Cavco Industries in a research note on Wednesday, September 30th. They issued an “outperform” rating and a $720.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cavco Industries currently has an average rating of “Moderate Buy” and a consensus target price of $690.00.

About Cavco Industries

Cavco Industries, Inc is a manufacturer of factory-built housing and related products. The company designs and produces manufactured homes, modular homes, park model recreational vehicles, and commercial structures for residential, hospitality, and other applications. Its homes are sold through independent retailers, company-owned retail locations, and a network of housing dealers.

Cavco markets its products under several brands, including Cavco, Fleetwood Homes, Palm Harbor Homes, Nationwide Homes, Solitaire Homes, and CountryPlace.