Cavco Industries, Inc. (NASDAQ:CVCO) was the recipient of a large growth in short interest in the month of October. As of October 30th, there was short interest totalling 137,100 shares, a growth of 30.4% from the October 15th total of 105,100 shares. Currently, 1.6% of the company's stock are sold short. Based on an average daily volume of 49,300 shares, the short-interest ratio is presently 2.8 days.
Shares of CVCO opened at $195.52 on Friday. Cavco Industries has a fifty-two week low of $99.58 and a fifty-two week high of $236.10. The company has a 50 day moving average price of $186.05 and a 200-day moving average price of $185.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.33 and a current ratio of 2.87. The stock has a market capitalization of $1.80 billion, a PE ratio of 28.09 and a beta of 1.33.
Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, October 29th. The construction company reported $1.62 EPS for the quarter, beating the Zacks' consensus estimate of $1.19 by $0.43. Cavco Industries had a net margin of 6.20% and a return on equity of 10.48%. Equities research analysts forecast that Cavco Industries will post 7.07 EPS for the current year.
CVCO has been the subject of several research reports. BidaskClub raised shares of Cavco Industries from a "sell" rating to a "hold" rating in a research report on Thursday, November 5th. Craig Hallum upped their price target on shares of Cavco Industries from $218.00 to $234.00 and gave the stock a "buy" rating in a research report on Monday, November 2nd. Finally, Zacks Investment Research raised shares of Cavco Industries from a "hold" rating to a "buy" rating and set a $216.00 price target for the company in a research report on Wednesday, November 4th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. The stock presently has an average rating of "Buy" and a consensus price target of $215.00.
A number of large investors have recently bought and sold shares of CVCO. Summit Partners Public Asset Management LLC purchased a new stake in Cavco Industries during the second quarter valued at approximately $10,028,000. Tygh Capital Management Inc. lifted its position in Cavco Industries by 83.2% during the second quarter. Tygh Capital Management Inc. now owns 66,275 shares of the construction company's stock valued at $12,781,000 after acquiring an additional 30,105 shares during the last quarter. Ashford Capital Management Inc. lifted its position in Cavco Industries by 83.5% during the third quarter. Ashford Capital Management Inc. now owns 59,847 shares of the construction company's stock valued at $10,791,000 after acquiring an additional 27,235 shares during the last quarter. William Blair Investment Management LLC lifted its position in Cavco Industries by 78.7% during the second quarter. William Blair Investment Management LLC now owns 54,097 shares of the construction company's stock valued at $10,433,000 after acquiring an additional 23,831 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in Cavco Industries by 27.0% during the second quarter. Prudential Financial Inc. now owns 106,920 shares of the construction company's stock valued at $20,620,000 after acquiring an additional 22,709 shares during the last quarter. 80.29% of the stock is owned by 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, Fleetwood, Palm Harbor, Fairmont, Friendship, Chariot Eagle, and Destiny brands.
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