Cavco Industries (NASDAQ:CVCO) Trading 5.5% Higher

Cavco Industries, Inc. (NASDAQ:CVCO) traded up 5.5% on Wednesday . The stock traded as high as $201.53 and last traded at $201.07, 143,591 shares changed hands during trading. An increase of 41% from the average session volume of 102,046 shares. The stock had previously closed at $190.60.

A number of analysts have weighed in on CVCO shares. Craig Hallum boosted their price target on Cavco Industries from $153.00 to $173.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. BidaskClub raised Cavco Industries from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th.

The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 25.20 and a beta of 1.60. The company has a current ratio of 2.73, a quick ratio of 2.06 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $179.99 and a two-hundred day moving average of $147.87.



Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Monday, July 29th. The construction company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.87 by $0.44. Cavco Industries had a return on equity of 13.48% and a net margin of 7.16%. The company had revenue of $264.04 million for the quarter, compared to the consensus estimate of $256.38 million. During the same quarter last year, the company posted $2.12 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AdvisorNet Financial Inc bought a new position in Cavco Industries in the 2nd quarter worth $29,000. Acadian Asset Management LLC acquired a new position in Cavco Industries during the 2nd quarter worth $64,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Cavco Industries by 13.4% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 719 shares of the construction company’s stock valued at $113,000 after acquiring an additional 85 shares during the period. Flinton Capital Management LLC boosted its holdings in Cavco Industries by 42.4% during the second quarter. Flinton Capital Management LLC now owns 752 shares of the construction company’s stock valued at $118,000 after acquiring an additional 224 shares during the period. Finally, Riverhead Capital Management LLC grew its position in shares of Cavco Industries by 33.3% in the second quarter. Riverhead Capital Management LLC now owns 800 shares of the construction company’s stock valued at $126,000 after purchasing an additional 200 shares during the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

About Cavco Industries (NASDAQ:CVCO)

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.

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