Cavco Industries, Inc. (NASDAQ:CVCO)’s share price traded up 5.5% during trading on Wednesday . The stock traded as high as $201.53 and last traded at $201.07, 143,591 shares changed hands during mid-day 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 equities research analysts have weighed in on the stock. Craig Hallum upped their price target on shares of Cavco Industries from $153.00 to $173.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. BidaskClub upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th.
The firm 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 quick ratio of 2.06, a current ratio of 2.73 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $179.99 and its 200 day moving average is $147.87.
Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Monday, July 29th. The construction company reported $2.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.44. The firm had revenue of $264.04 million for the quarter, compared to analyst estimates of $256.38 million. Cavco Industries had a net margin of 7.16% and a return on equity of 13.48%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.12 earnings per share.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC acquired a new position in shares of Cavco Industries in the 2nd quarter worth $22,232,000. Long Pond Capital LP purchased a new stake in shares of Cavco Industries during the first quarter valued at $10,063,000. PNC Financial Services Group Inc. boosted its position in shares of Cavco Industries by 155.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 124,492 shares of the construction company’s stock valued at $14,632,000 after purchasing an additional 75,667 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Cavco Industries by 48.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 222,556 shares of the construction company’s stock valued at $35,062,000 after purchasing an additional 72,417 shares during the period. Finally, Intrinsic Edge Capital Management LLC purchased a new position in Cavco Industries in the 2nd quarter worth about $9,882,000. 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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