Cavco Industries (NASDAQ:CVCO) Issues Earnings Results, Beats Estimates By $0.12 EPS

Cavco Industries (NASDAQ:CVCO) posted its quarterly earnings data 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 net margin of 8.37% and a return on equity of 17.84%.

Cavco Industries Stock Performance

Shares of Cavco Industries stock traded down $3.62 during midday trading on Thursday, reaching $491.49. 132,049 shares of the company’s stock traded hands, compared to its average volume of 177,623. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 21.35 and a beta of 1.31. The company’s 50 day simple moving average is $495.78 and its 200 day simple moving average is $556.51. Cavco Industries has a 52 week low of $393.53 and a 52 week high of $713.01.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Cavco Industries

In other news, EVP Allison Aden sold 129 shares of the firm’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 transaction, the executive vice president owned 8,806 shares in the company, valued at approximately $4,013,422.56. This trade represents a 1.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its holdings in Cavco Industries by 13.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 152 shares of the construction company’s stock worth $90,000 after acquiring an additional 18 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Cavco Industries by 12.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock worth $86,000 after acquiring an additional 22 shares during the period. Aristides Capital LLC raised its holdings in Cavco Industries by 4.6% in the 4th quarter. Aristides Capital LLC now owns 902 shares of the construction company’s stock worth $533,000 after acquiring an additional 40 shares during the period. CIBC Private Wealth Group LLC raised its holdings 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 acquiring an additional 50 shares during the period. Finally, Captrust Financial Advisors raised its holdings in Cavco Industries by 5.0% in the 4th quarter. Captrust Financial Advisors now owns 1,097 shares of the construction company’s stock worth $648,000 after acquiring an additional 52 shares during the period. Institutional investors own 95.56% of the company’s stock.

About Cavco Industries

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.