Cavco Industries (NASDAQ:CVCO) Posts Earnings Results, Beats Expectations By $0.74 EPS

Cavco Industries (NASDAQ:CVCO) posted its quarterly earnings results on Thursday. The construction company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.74, Fidelity Earnings reports. Cavco Industries had a net margin of 6.69% and a return on equity of 11.73%. The firm had revenue of $254.80 million during the quarter, compared to analysts’ expectations of $211.70 million.

Cavco Industries stock opened at $200.33 on Friday. The firm’s 50 day simple moving average is $189.40 and its 200-day simple moving average is $181.22. The company has a market cap of $1.86 billion, a P/E ratio of 27.14 and a beta of 1.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.00 and a quick ratio of 2.34. Cavco Industries has a fifty-two week low of $99.58 and a fifty-two week high of $236.10.

Several analysts have recently commented on CVCO shares. Craig Hallum increased their price target on shares of Cavco Industries from $142.00 to $204.00 and gave the company a “hold” rating in a research report on Thursday, May 28th. TheStreet raised shares of Cavco Industries from a “c+” rating to a “b-” rating in a research note on Friday, June 12th. Wedbush began coverage on shares of Cavco Industries in a research note on Monday, July 13th. They issued a “neutral” rating and a $195.00 target price on the stock. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of Cavco Industries from a “buy” rating to a “hold” rating in a research note on Friday, June 5th.

About Cavco Industries

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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Earnings History for Cavco Industries (NASDAQ:CVCO)

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