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

Cavco Industries (NASDAQ:CVCO – Get Rating) released its quarterly earnings results on Thursday. The construction company reported $5.80 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 quarter last year, the firm posted $2.71 EPS.

Shares of NASDAQ:CVCO traded up $2.60 during midday trading on Friday, hitting $219.20. The company had a trading volume of 72,778 shares, compared to its average volume of 58,161. Cavco Industries has a 12 month low of $195.70 and a 12 month high of $327.24. The company has a current ratio of 2.58, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 12.00 and a beta of 0.98. The firm has a fifty day simple moving average of $238.46 and a 200 day simple moving average of $271.74.

A number of research firms recently commented on CVCO. Zacks Investment Research lowered Cavco Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 11th. Wedbush increased their price objective on Cavco Industries from $255.00 to $315.00 and gave the company a “neutral” rating in a research report on Monday, February 7th. Craig Hallum decreased their price objective on Cavco Industries from $426.00 to $340.00 in a research report on Monday, April 18th. Finally, StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a research report on Thursday, May 12th.

Several large investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its position in shares of Cavco Industries by 0.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 6,946 shares of the construction company’s stock worth $2,206,000 after purchasing an additional 40 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Cavco Industries by 0.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 7,402 shares of the construction company’s stock worth $1,826,000 after purchasing an additional 56 shares during the last quarter. US Bancorp DE boosted its position in shares of Cavco Industries by 25.2% in the 1st quarter. US Bancorp DE now owns 388 shares of the construction company’s stock worth $94,000 after purchasing an additional 78 shares during the last quarter. Brinker Capital Investments LLC boosted its position in shares of Cavco Industries by 1.4% in the 1st quarter. Brinker Capital Investments LLC now owns 7,569 shares of the construction company’s stock worth $1,823,000 after purchasing an additional 107 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Cavco Industries by 1.8% in the 4th quarter. California State Teachers Retirement System now owns 12,002 shares of the construction company’s stock worth $3,812,000 after purchasing an additional 217 shares during the last quarter. Institutional investors and hedge funds own 92.58% of the company’s stock.

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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