Cavco Industries (NASDAQ:CVCO) Research Coverage Started at Wedbush

Wedbush began coverage on shares of Cavco Industries (NASDAQ:CVCO) in a research report report published on Monday, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $195.00 target price on the construction company’s stock. Wedbush also issued estimates for Cavco Industries’ Q1 2021 earnings at $1.06 EPS, Q2 2021 earnings at $1.51 EPS, Q3 2021 earnings at $1.87 EPS, Q4 2021 earnings at $1.86 EPS, FY2021 earnings at $6.30 EPS, Q1 2022 earnings at $1.62 EPS, Q2 2022 earnings at $1.81 EPS, Q3 2022 earnings at $2.13 EPS, Q4 2022 earnings at $2.12 EPS and FY2022 earnings at $7.67 EPS. The analysts noted that the move was a valuation call.

A number of other equities analysts have also weighed in on CVCO. BidaskClub lowered Cavco Industries from a buy rating to a hold rating in a research report on Friday, June 5th. TheStreet upgraded Cavco Industries from a c+ rating to a b- rating in a research report on Friday, June 12th. Finally, Craig Hallum raised their price objective on Cavco Industries from $142.00 to $204.00 and gave the stock a hold rating in a research report on Thursday, May 28th.

NASDAQ:CVCO opened at $191.21 on Monday. The company has a quick ratio of 2.34, a current ratio of 3.00 and a debt-to-equity ratio of 0.04. Cavco Industries has a 1-year low of $99.58 and a 1-year high of $236.10. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 23.61 and a beta of 1.62. The stock has a fifty day simple moving average of $190.95 and a 200 day simple moving average of $181.63.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Tuesday, May 26th. The construction company reported $1.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.55 by ($0.26). Cavco Industries had a net margin of 7.07% and a return on equity of 12.74%. The company had revenue of $255.34 million during the quarter.

A number of hedge funds and other institutional investors have recently made changes to their positions in CVCO. Victory Capital Management Inc. boosted its position in Cavco Industries by 5.1% during the 4th quarter. Victory Capital Management Inc. now owns 9,866 shares of the construction company’s stock worth $1,928,000 after acquiring an additional 483 shares during the period. Bank of Montreal Can boosted its position in Cavco Industries by 24.0% during the 4th quarter. Bank of Montreal Can now owns 1,385 shares of the construction company’s stock worth $270,000 after acquiring an additional 268 shares during the period. Great West Life Assurance Co. Can acquired a new stake in Cavco Industries during the 4th quarter worth about $2,049,000. ProShare Advisors LLC boosted its position in Cavco Industries by 17.1% during the 4th quarter. ProShare Advisors LLC now owns 1,403 shares of the construction company’s stock worth $274,000 after acquiring an additional 205 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Cavco Industries by 14.2% during the 4th quarter. Renaissance Technologies LLC now owns 137,509 shares of the construction company’s stock worth $26,867,000 after acquiring an additional 17,094 shares during the period. Hedge funds and other institutional investors own 90.75% 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.

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