Cavco Industries (NASDAQ:CVCO) Issues Quarterly Earnings Results

Cavco Industries (NASDAQ:CVCO) issued its quarterly earnings results on Thursday. The construction company reported $4.11 earnings per share for the quarter, missing the consensus estimate of $4.97 by ($0.86), Zacks reports. The firm had revenue of $477.60 million for the quarter, compared to analysts’ expectations of $487.80 million. Cavco Industries had a net margin of 8.79% and a return on equity of 15.46%. During the same period in the prior year, the firm earned $5.29 EPS.

Cavco Industries Stock Down 4.6 %

Cavco Industries stock traded down $18.40 during mid-day trading on Friday, reaching $382.97. 99,190 shares of the company’s stock traded hands, compared to its average volume of 65,240. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 20.58 and a beta of 1.23. The stock has a 50 day moving average of $364.96 and a two-hundred day moving average of $364.75. Cavco Industries has a 12-month low of $233.84 and a 12-month high of $426.41.

Analyst Ratings Changes

Separately, Wedbush reiterated an “outperform” rating and set a $425.00 price objective on shares of Cavco Industries in a research report on Friday.

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.