Cavco Industries, Inc. (NASDAQ:CVCO) announced its quarterly earnings data on Monday, August 7th. The construction company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.20, Briefing.com reports. Cavco Industries had a return on equity of 11.40% and a net margin of 5.56%. The firm had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $200.70 million. During the same period last year, the business posted $0.60 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year.
Shares of Cavco Industries (CVCO) opened at 123.70 on Friday. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 25.51 and a beta of 1.53. The company’s 50-day moving average price is $130.90 and its 200 day moving average price is $120.40. Cavco Industries has a 12-month low of $88.65 and a 12-month high of $143.10.
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In other Cavco Industries news, Director William C. Boor sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $130.59, for a total transaction of $391,770.00. Following the completion of the sale, the director now directly owns 6,397 shares of the company’s stock, valued at approximately $835,384.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.44% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of CVCO. State of Alaska Department of Revenue increased its position in shares of Cavco Industries by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 930 shares of the construction company’s stock worth $108,000 after buying an additional 20 shares during the period. Victory Capital Management Inc. increased its position in shares of Cavco Industries by 34.3% in the first quarter. Victory Capital Management Inc. now owns 1,288 shares of the construction company’s stock worth $150,000 after buying an additional 329 shares during the period. HighTower Advisors LLC acquired a new position in shares of Cavco Industries during the first quarter worth about $202,000. Pinnacle Associates Ltd. acquired a new position in shares of Cavco Industries during the second quarter worth about $226,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Cavco Industries during the second quarter worth about $237,000. 97.07% of the stock is owned by hedge funds and other institutional investors.
Separately, BidaskClub upgraded Cavco Industries from a “sell” rating to a “hold” rating in a research note on Friday, August 4th.
About Cavco Industries
Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.
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