Cavco Industries (NASDAQ:CVCO) Posts Earnings Results, Misses Expectations By $0.42 EPS

Cavco Industries (NASDAQ:CVCO) posted its quarterly earnings data on Thursday. The construction company reported $5.58 EPS for the quarter, missing analysts’ consensus estimates of $6.00 by ($0.42), Zacks reports. Cavco Industries had a net margin of 9.18% and a return on equity of 19.13%.

Cavco Industries Price Performance

Shares of CVCO traded up $1.39 during midday trading on Thursday, reaching $617.50. The stock had a trading volume of 195,360 shares, compared to its average volume of 195,800. The company has a market capitalization of $4.82 billion, a P/E ratio of 25.37 and a beta of 1.31. The firm’s 50 day moving average price is $616.57 and its 200-day moving average price is $550.81. Cavco Industries has a 52 week low of $393.53 and a 52 week high of $713.01.

Insider Buying and Selling

In related news, Director Richard A. Kerley sold 500 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $568.99, for a total value of $284,495.00. Following the sale, the director directly owned 6,669 shares in the company, valued at $3,794,594.31. The trade was a 6.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. increased its stake in Cavco Industries by 118.2% in the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after purchasing an additional 65 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Cavco Industries during the third quarter valued at approximately $58,000. CIBC Private Wealth Group LLC boosted its stake in Cavco Industries by 72.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company’s stock worth $69,000 after purchasing an additional 50 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Cavco Industries by 12.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock valued at $86,000 after purchasing an additional 22 shares during the period. Finally, Abel Hall LLC purchased a new stake in shares of Cavco Industries in the third quarter valued at $203,000. 95.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on CVCO. CJS Securities upgraded shares of Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. Zacks Research lowered Cavco Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cavco Industries in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.