Cavco Industries (NASDAQ:CVCO) Issues Earnings Results, Beats Expectations By $0.99 EPS

Cavco Industries (NASDAQ:CVCO – Get Rating) posted its quarterly earnings data on Thursday. The construction company reported $5.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.99, MarketWatch Earnings reports. Cavco Industries had a return on equity of 19.08% and a net margin of 11.85%. During the same period in the prior year, the business earned $2.71 earnings per share.

Shares of CVCO stock opened at $216.60 on Friday. Cavco Industries has a twelve month low of $195.70 and a twelve month high of $327.24. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 11.86 and a beta of 0.98. The company’s 50-day moving average price is $239.78 and its 200-day moving average price is $272.26. The company has a current ratio of 2.58, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE increased its position in Cavco Industries by 25.2% in the 1st quarter. US Bancorp DE now owns 388 shares of the construction company’s stock valued at $94,000 after acquiring an additional 78 shares during the period. Guggenheim Capital LLC acquired a new position in shares of Cavco Industries in the fourth quarter worth $201,000. Zebra Capital Management LLC acquired a new position in shares of Cavco Industries in the first quarter valued at approximately $209,000. Graham Capital Management L.P. acquired a new position in Cavco Industries in the 1st quarter valued at $239,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in Cavco Industries during the fourth quarter worth about $243,000. 92.58% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have issued reports on CVCO shares. StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Zacks Investment Research lowered shares of Cavco Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, April 11th. Craig Hallum decreased their price target on shares of Cavco Industries from $426.00 to $340.00 in a research note on Monday, April 18th. Finally, Wedbush upped their target price on Cavco Industries from $255.00 to $315.00 and gave the company a “neutral” rating in a research note on Monday, February 7th.

Cavco Industries Company Profile (Get Rating)

Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco, Fleetwood, Palm Harbor, Fairmont, Friendship, Chariot Eagle, and Destiny brands.

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