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

Cavco Industries (NASDAQ:CVCO) posted its quarterly earnings results on Thursday. The construction company reported $6.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 mid-day trading on Thursday, hitting $476.82. 75,112 shares of the company traded hands, compared to its average volume of 51,795. The firm has a market cap of $3.87 billion, a P/E ratio of 26.95 and a beta of 1.33. Cavco Industries has a 52-week low of $325.25 and a 52-week high of $544.08. The firm’s 50 day simple moving average is $474.13 and its 200 day simple moving average is $437.36.

Analyst Ratings Changes

Several research firms have recently weighed in on CVCO. Craig Hallum lifted their price objective on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th. StockNews.com downgraded shares of Cavco Industries from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Finally, Wedbush downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 target price on the stock. in a research note on Tuesday, December 3rd.

Insiders Place Their Bets

In related news, Director Julia Sze sold 125 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the transaction, the director now owns 2,861 shares in the company, valued at approximately $1,312,283.48. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan L. Blount sold 750 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $471.70, for a total value of $353,775.00. Following the completion of the transaction, the director now directly owns 2,836 shares of the company’s stock, valued at $1,337,741.20. This represents a 20.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,850 shares of company stock worth $889,417 in the last 90 days. 1.60% of the stock is owned by company 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.