Cavco Industries (NASDAQ:CVCO) Posts Quarterly Earnings Results, Misses Expectations By $0.86 EPS

Cavco Industries (NASDAQ:CVCO) released its earnings results on Thursday. The construction company reported $4.11 earnings per share for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86), Zacks reports. The firm had revenue of $477.60 million for the quarter, compared to analyst estimates of $487.80 million. Cavco Industries had a return on equity of 15.46% and a net margin of 8.79%. During the same period last year, the business earned $5.29 earnings per share.

Cavco Industries Price Performance

Shares of Cavco Industries stock traded down $18.40 during trading on Friday, hitting $382.97. 99,190 shares of the company’s stock traded hands, compared to its average volume of 65,240. Cavco Industries has a twelve month low of $233.84 and a twelve month high of $426.41. The company has a market cap of $3.17 billion, a PE ratio of 20.58 and a beta of 1.23. The firm’s fifty day moving average price is $364.96 and its 200 day moving average price is $364.75.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued an “outperform” rating and set a $425.00 price objective on shares of Cavco Industries in a report on Friday.

About Cavco Industries

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.