Cavco Industries, Inc. (NASDAQ:CVCO) Sees Large Drop in Short Interest

Cavco Industries, Inc. (NASDAQ:CVCO) saw a large drop in short interest in December. As of December 31st, there was short interest totalling 160,600 shares, a drop of 14.6% from the December 15th total of 188,000 shares. Based on an average daily trading volume, of 42,200 shares, the days-to-cover ratio is currently 3.8 days. Approximately 1.9% of the company’s shares are sold short.

Separately, BidaskClub upgraded shares of Cavco Industries from a “sell” rating to a “hold” rating in a report on Wednesday.

CVCO traded up $1.67 on Wednesday, reaching $209.00. 50,911 shares of the company traded hands, compared to its average volume of 38,622. Cavco Industries has a one year low of $112.00 and a one year high of $210.00. The firm has a fifty day simple moving average of $198.95 and a two-hundred day simple moving average of $187.13. The company has a market cap of $1.85 billion, a P/E ratio of 25.11 and a beta of 1.56. The company has a quick ratio of 2.19, a current ratio of 2.87 and a debt-to-equity ratio of 0.04.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.09. Cavco Industries had a net margin of 7.50% and a return on equity of 13.79%. The company had revenue of $268.70 million during the quarter, compared to analyst estimates of $267.37 million. During the same quarter last year, the business posted $1.67 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Cavco Industries by 1.0% in the 2nd quarter. BlackRock Inc. now owns 1,333,215 shares of the construction company’s stock valued at $210,035,000 after purchasing an additional 13,093 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Cavco Industries by 4.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 857,854 shares of the construction company’s stock valued at $135,146,000 after purchasing an additional 33,105 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Cavco Industries by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 729,798 shares of the construction company’s stock valued at $114,972,000 after purchasing an additional 22,073 shares in the last quarter. State Street Corp raised its holdings in shares of Cavco Industries by 0.4% in the 3rd quarter. State Street Corp now owns 282,315 shares of the construction company’s stock valued at $54,230,000 after purchasing an additional 1,040 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Cavco Industries by 48.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 222,556 shares of the construction company’s stock valued at $35,062,000 after purchasing an additional 72,417 shares in the last quarter. Institutional investors and hedge funds own 92.96% of the company’s stock.

Cavco Industries Company Profile

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.

Featured Article: Inverted Yield Curve

Receive News & Ratings for Cavco Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cavco Industries and related companies with MarketBeat.com's FREE daily email newsletter.