Cavco Industries - CVCO Stock Forecast, Price & News

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.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Craig Hallum lifted their price objective on shares of Cavco Industries from $322.00 to $335.00 in a research note on Monday. StockNews.com upgraded shares of Cavco Industries from a "hold" rating to a "buy" rating in a report on Friday, July 1st. Finally, Wedbush raised shares of Cavco Industries from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $315.00 to $385.00 in a research report on Friday, August 5th.

Cavco Industries Price Performance

CVCO traded up $6.18 on Friday, hitting $284.45. 930 shares of the stock were exchanged, compared to its average volume of 60,426. Cavco Industries has a 12 month low of $179.47 and a 12 month high of $327.24. The business has a 50-day moving average of $223.22 and a two-hundred day moving average of $243.33. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 11.10 and a beta of 1.14.

Cavco Industries (NASDAQ:CVCO - Get Rating) last posted its earnings results on Thursday, August 4th. The construction company reported $6.63 EPS for the quarter, topping analysts' consensus estimates of $3.95 by $2.68. The firm had revenue of $588.34 million during the quarter, compared to analysts' expectations of $402.00 million. Cavco Industries had a net margin of 12.22% and a return on equity of 24.87%. Equities research analysts expect that Cavco Industries will post 24.05 earnings per share for the current fiscal year.