Zacks: Cavco Industries, Inc. (CVCO) Receives Average Recommendation of “Buy” from Brokerages

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Cavco Industries, Inc. (NASDAQ:CVCO) has been given a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company. Cavco Industries’ rating score has declined by 100% in the last three months as a result of a number of analysts’ ratings changes.

Brokerages have set a 12 month consensus price objective of $220.00 for the company, according to Zacks. Zacks has also assigned Cavco Industries an industry rank of 239 out of 255 based on the ratings given to its competitors.

CVCO has been the topic of several recent analyst reports. BidaskClub upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Craig Hallum initiated coverage on shares of Cavco Industries in a research report on Friday, June 22nd. They set a “hold” rating and a $220.00 price objective on the stock.

Shares of CVCO stock opened at $234.15 on Friday. The firm has a market cap of $2.14 billion, a PE ratio of 34.14 and a beta of 1.45. Cavco Industries has a one year low of $124.05 and a one year high of $239.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.82 and a current ratio of 2.44.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Tuesday, August 7th. The construction company reported $2.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.57. The firm had revenue of $246.40 million for the quarter, compared to the consensus estimate of $233.10 million. Cavco Industries had a net margin of 7.62% and a return on equity of 14.34%. The company’s revenue was up 19.1% on a year-over-year basis. During the same period last year, the firm earned $1.28 EPS.

Several hedge funds have recently made changes to their positions in CVCO. Acadian Asset Management LLC raised its position in shares of Cavco Industries by 174.8% during the 2nd quarter. Acadian Asset Management LLC now owns 599 shares of the construction company’s stock valued at $124,000 after purchasing an additional 381 shares during the period. Fiera Capital Corp bought a new stake in Cavco Industries in the 2nd quarter valued at $208,000. Profund Advisors LLC bought a new stake in Cavco Industries in the 1st quarter valued at $213,000. Amalgamated Bank bought a new stake in Cavco Industries in the 1st quarter valued at $215,000. Finally, Janney Montgomery Scott LLC bought a new stake in Cavco Industries in the 2nd quarter valued at $216,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

About Cavco Industries

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 Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes, Friendship Homes, Chariot Eagle, and Lexington Home brands.

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