Craig Hallum started coverage on shares of Cavco Industries (NASDAQ:CVCO) in a report released on Friday morning, Marketbeat.com reports. The brokerage issued a hold rating and a $220.00 price target on the construction company’s stock.
Separately, BidaskClub raised shares of Cavco Industries from a hold rating to a buy rating in a report on Friday, April 6th.
Cavco Industries opened at $207.70 on Friday, according to MarketBeat.com. The company has a market cap of $1.86 billion, a PE ratio of 33.93 and a beta of 1.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.37 and a quick ratio of 1.75. Cavco Industries has a 1-year low of $123.10 and a 1-year high of $224.95.
Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Tuesday, May 29th. The construction company reported $2.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.78. The company had revenue of $242.53 million during the quarter, compared to analyst estimates of $220.06 million. Cavco Industries had a net margin of 7.06% and a return on equity of 13.08%. The company’s revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the business posted $1.19 earnings per share.
Several hedge funds and other institutional investors have recently bought and sold shares of CVCO. LS Investment Advisors LLC increased its holdings in shares of Cavco Industries by 275.5% during the fourth quarter. LS Investment Advisors LLC now owns 1,164 shares of the construction company’s stock worth $178,000 after buying an additional 854 shares in the last quarter. Profund Advisors LLC acquired a new stake in shares of Cavco Industries during the first quarter worth approximately $213,000. Amalgamated Bank acquired a new stake in shares of Cavco Industries during the first quarter worth approximately $215,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Cavco Industries during the fourth quarter worth approximately $233,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Cavco Industries by 36.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,706 shares of the construction company’s stock worth $260,000 after buying an additional 460 shares in the last quarter. 93.06% of the stock is owned by institutional investors.
About Cavco Industries
Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. The company operates in two segments, Factory-Built Housing and Financial Services. It markets its manufactured homes under the brand names of Cavco Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes, Friendship Homes, Chariot Eagle, and Lexington Homes.
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