Cavco Industries (NASDAQ:CVCO) Announces Earnings Results
Cavco Industries (NASDAQ:CVCO) posted its quarterly earnings results on Thursday. The construction company reported $1.80 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.74, Fidelity Earnings reports. Cavco Industries had a net margin of 6.69% and a return on equity of 11.73%. The firm had revenue of $254.80 million for the quarter, compared to analysts’ expectations of $211.70 million.
Shares of CVCO stock traded down $2.67 during trading hours on Friday, reaching $200.33. 73,282 shares of the stock were exchanged, compared to its average volume of 38,508. Cavco Industries has a 12-month low of $99.58 and a 12-month high of $236.10. The company has a current ratio of 3.00, a quick ratio of 2.34 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $189.40 and its 200-day moving average price is $181.22. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 26.39 and a beta of 1.62.
A number of equities research analysts have recently commented on CVCO shares. Wedbush started coverage on shares of Cavco Industries in a report on Monday, July 13th. They set a “neutral” rating and a $195.00 price target on the stock. They noted that the move was a valuation call. BidaskClub cut shares of Cavco Industries from a “buy” rating to a “hold” rating in a report on Friday, June 5th. TheStreet upgraded shares of Cavco Industries from a “c+” rating to a “b-” rating in a report on Friday, June 12th. Finally, Craig Hallum increased their price target on shares of Cavco Industries from $142.00 to $204.00 and gave the company a “hold” rating in a report on Thursday, May 28th.
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 Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes, Friendship Homes, Chariot Eagle, and Lexington Home brands.
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