Cavco Industries (NASDAQ:CVCO) Announces Earnings Results

Cavco Industries (NASDAQ:CVCO) released its earnings results on Thursday. The construction company reported $5.42 EPS for the quarter, topping analysts’ consensus estimates of $5.30 by $0.12, Zacks reports. Cavco Industries had a return on equity of 17.64% and a net margin of 8.49%.The company had revenue of $550.13 million for the quarter, compared to the consensus estimate of $571.06 million.

Cavco Industries Price Performance

NASDAQ:CVCO opened at $509.17 on Friday. Cavco Industries has a 12-month low of $393.53 and a 12-month high of $713.01. The firm has a market capitalization of $3.95 billion, a P/E ratio of 21.24 and a beta of 1.31. The business has a 50 day simple moving average of $495.18 and a 200 day simple moving average of $555.91.

Insider Activity

In other news, EVP Allison Aden sold 129 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $455.76, for a total transaction of $58,793.04. Following the completion of the transaction, the executive vice president owned 8,806 shares of the company’s stock, valued at approximately $4,013,422.56. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Cavco Industries

Hedge funds and other institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Cavco Industries during the fourth quarter valued at $46,000. Kemnay Advisory Services Inc. bought a new stake in Cavco Industries during the 4th quarter valued at $50,000. Los Angeles Capital Management LLC bought a new stake in Cavco Industries during the 4th quarter valued at $54,000. Osaic Holdings Inc. raised its stake in Cavco Industries by 118.2% during the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock valued at $57,000 after acquiring an additional 65 shares in the last quarter. Finally, Danske Bank A S bought a new stake in Cavco Industries during the 3rd quarter valued at $58,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Zelman & Associates raised Cavco Industries to an “outperform” rating in a report on Thursday, February 5th. Weiss Ratings downgraded Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Finally, Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Cavco Industries has an average rating of “Moderate Buy” and an average price target of $550.00.

Cavco Industries Company Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.