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, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, and MidCountry brands. It also builds park model RVs; vacation cabins; and factory-built commercial structures, including apartment buildings, condominiums, hotels, workforce housing, schools, and housing for the United States military troops. In addition, the company produces various modular homes, which include single and multi-section ranch, split-level, and Cape Cod style homes, as well as two- and three-story homes, and multi-family units. Further, it provides conforming and non-conforming mortgages and home-only loans to purchasers of various brands of factory-built homes sold by company-owned retail stores, as well as various independent distributors, builders, communities, and developers. Additionally, the company offers property and casualty insurance to owners of manufactured homes. As of April 3, 2022, it operated 45 company-owned retail stores in Oregon, Arizona, Nevada, New Mexico, Texas, Indiana, Oklahoma, Florida, and New York. The company also distributes its homes through a network of independent distribution points in 48 states and Canada; and through planned community operators and residential developers. Cavco Industries, Inc. was founded in 1965 and is headquartered in Phoenix, Arizona.
Wall Street Analyst Weigh In
A number of research firms recently commented on CVCO. StockNews.com raised shares of Cavco Industries from a "hold" rating to a "buy" rating in a report on Friday, July 1st. Wedbush raised Cavco Industries from a "neutral" rating to an "outperform" rating and increased their target price for the company from $315.00 to $385.00 in a research note on Friday, August 5th. Finally, Craig Hallum increased their target price on Cavco Industries to $335.00 in a report on Monday.
Cavco Industries Trading Down 0.3 %
CVCO traded down $0.82 on Tuesday, hitting $285.75. 49,709 shares of the company's stock traded hands, compared to its average volume of 58,190. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 11.40 and a beta of 1.14. Cavco Industries has a one year low of $179.47 and a one year high of $327.24. The company's 50 day simple moving average is $227.36 and its 200-day simple moving average is $243.79.
Cavco Industries (NASDAQ:CVCO - Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The construction company reported $6.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.95 by $2.68. Cavco Industries had a return on equity of 24.87% and a net margin of 12.22%. The company had revenue of $588.34 million during the quarter, compared to the consensus estimate of $402.00 million. As a group, equities analysts anticipate that Cavco Industries will post 24.05 EPS for the current fiscal year.