Cavco Industries (NASDAQ:CVCO) Issues Earnings Results, Beats Estimates By $2.01 EPS

Cavco Industries (NASDAQ:CVCO) posted its earnings results on Thursday. The construction company reported $6.90 EPS for the quarter, beating analysts’ consensus estimates of $4.89 by $2.01, Zacks reports. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%.

Cavco Industries Trading Up 1.9 %

CVCO traded up $9.11 during mid-day trading on Thursday, hitting $476.82. 75,112 shares of the stock were exchanged, compared to its average volume of 51,832. The firm’s fifty day moving average is $474.13 and its two-hundred day moving average is $437.36. Cavco Industries has a 1-year low of $325.25 and a 1-year high of $544.08. The company has a market cap of $3.87 billion, a PE ratio of 26.95 and a beta of 1.33.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 100 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total value of $51,223.00. Following the completion of the transaction, the chief accounting officer now owns 981 shares of the company’s stock, valued at $502,497.63. This trade represents a 9.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Julia Sze sold 125 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $503.31, for a total value of $62,913.75. Following the sale, the director now directly owns 2,736 shares in the company, valued at $1,377,056.16. This represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,850 shares of company stock valued at $889,417 in the last three months. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVCO. Wedbush downgraded Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective for the company. in a research report on Tuesday, December 3rd. StockNews.com cut shares of Cavco Industries from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Finally, Craig Hallum upped their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th.

About Cavco Industries

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.