Cavco Industries, Inc. (CVCO) Posts Earnings Results, Misses Expectations By $0.13 EPS
Cavco Industries, Inc. (NASDAQ:CVCO) posted its earnings results on Tuesday. The construction company reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.13), Bloomberg Earnings reports. Cavco Industries had a return on equity of 11.40% and a net margin of 5.56%. The business had revenue of $200.50 million during the quarter, compared to analyst estimates of $190.87 million. During the same quarter in the prior year, the company earned $1.04 EPS. The company’s revenue was up 6.5% on a year-over-year basis.
Shares of Cavco Industries (NASDAQ CVCO) opened at $150.50 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.51 and a quick ratio of 1.81. The company has a market cap of $1,379.52, a PE ratio of 31.54 and a beta of 1.62. Cavco Industries has a one year low of $88.65 and a one year high of $157.80.
In other Cavco Industries news, Director David A. Greenblatt sold 3,000 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $136.68, for a total value of $410,040.00. Following the completion of the sale, the director now owns 10,175 shares in the company, valued at approximately $1,390,719. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 8.44% of the company’s stock.
CVCO has been the topic of a number of analyst reports. Sidoti upgraded shares of Cavco Industries from a “neutral” rating to a “buy” rating in a report on Friday, August 25th. BidaskClub upgraded shares of Cavco Industries from a “sell” rating to a “hold” rating in a report on Friday, August 4th.
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Cavco Industries Company Profile
Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.
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