Zacks: Cavco Industries, Inc. (CVCO) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) have earned an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.

Brokerages have set a 1 year consensus price objective of $220.00 for the company, according to Zacks. Zacks has also given Cavco Industries an industry rank of 255 out of 257 based on the ratings given to related companies.

Several brokerages recently issued reports on CVCO. Craig Hallum set a $230.00 price objective on Cavco Industries and gave the stock a “hold” rating in a research note on Wednesday, August 8th. BidaskClub raised Cavco Industries from a “strong sell” rating to a “sell” rating in a research note on Monday, November 19th.

Shares of NASDAQ:CVCO traded down $15.60 during midday trading on Tuesday, reaching $150.65. The company had a trading volume of 148,200 shares, compared to its average volume of 56,391. The company has a quick ratio of 1.71, a current ratio of 2.28 and a debt-to-equity ratio of 0.03. Cavco Industries has a 1-year low of $139.50 and a 1-year high of $261.80. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 20.80 and a beta of 1.62.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Friday, November 9th. The construction company reported $1.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.18. Cavco Industries had a return on equity of 15.72% and a net margin of 8.28%. The business had revenue of $241.53 million during the quarter, compared to analyst estimates of $240.53 million. During the same quarter last year, the company posted $0.67 EPS. Cavco Industries’s revenue for the quarter was up 20.5% on a year-over-year basis.

A number of institutional investors have recently made changes to their positions in CVCO. Principal Financial Group Inc. lifted its stake in Cavco Industries by 5.0% in the 1st quarter. Principal Financial Group Inc. now owns 68,994 shares of the construction company’s stock worth $11,987,000 after acquiring an additional 3,285 shares in the last quarter. Bank of Montreal Can lifted its stake in Cavco Industries by 640.2% in the 2nd quarter. Bank of Montreal Can now owns 1,784 shares of the construction company’s stock worth $371,000 after acquiring an additional 1,543 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Cavco Industries by 174.8% in the 2nd quarter. Acadian Asset Management LLC now owns 599 shares of the construction company’s stock worth $124,000 after acquiring an additional 381 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Cavco Industries in the 2nd quarter worth about $216,000. Finally, First Trust Advisors LP lifted its stake in Cavco Industries by 47.8% in the 2nd quarter. First Trust Advisors LP now owns 22,374 shares of the construction company’s stock worth $4,646,000 after acquiring an additional 7,241 shares in the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

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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