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

Cavco Industries (NASDAQ:CVCO) announced its earnings results on Thursday. The construction company reported $6.90 earnings per share for the quarter, beating the consensus estimate 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 Stock Up 1.9 %

NASDAQ:CVCO opened at $476.82 on Friday. The stock has a fifty day simple moving average of $474.13 and a 200 day simple moving average of $437.36. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 26.95 and a beta of 1.33. Cavco Industries has a 1-year low of $325.25 and a 1-year high of $544.08.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 100 shares of Cavco Industries stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total transaction of $51,223.00. Following the completion of the sale, 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 hyperlink. Also, Director Susan L. Blount sold 750 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $485.56, for a total value of $364,170.00. Following the sale, the director now owns 2,086 shares of the company’s stock, valued at approximately $1,012,878.16. This represents a 26.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,850 shares of company stock valued at $889,417. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on CVCO. 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. StockNews.com lowered Cavco Industries from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Finally, Wedbush downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 target price on the stock. in a report on Tuesday, December 3rd.

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.