Zacks: Cavco Industries, Inc. (NASDAQ:CVCO) Given $220.00 Consensus Target Price by Brokerages

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) have earned an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.

Analysts have set a 1 year consensus target price of $220.00 for the company, according to Zacks. Zacks has also given Cavco Industries an industry rank of 237 out of 256 based on the ratings given to related companies.

Several equities analysts recently weighed in on CVCO shares. BidaskClub upgraded Cavco Industries from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 23rd. Craig Hallum reiterated a “hold” rating and set a $153.00 target price (up from $128.00) on shares of Cavco Industries in a research report on Tuesday, May 28th.

Shares of CVCO stock opened at $155.90 on Thursday. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 21.02 and a beta of 1.66. The company has a quick ratio of 1.99, a current ratio of 2.66 and a debt-to-equity ratio of 0.03. Cavco Industries has a fifty-two week low of $112.00 and a fifty-two week high of $261.80.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, May 23rd. The construction company reported $2.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.64. The business had revenue of $241.10 million during the quarter, compared to the consensus estimate of $226.96 million. Cavco Industries had a return on equity of 13.66% and a net margin of 7.13%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.40 earnings per share.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVCO. Bank of Montreal Can lifted its position in Cavco Industries by 173.4% during the fourth quarter. Bank of Montreal Can now owns 8,981 shares of the construction company’s stock valued at $1,172,000 after purchasing an additional 5,696 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of Cavco Industries by 34.8% in the fourth quarter. New York State Teachers Retirement System now owns 4,700 shares of the construction company’s stock valued at $613,000 after buying an additional 1,214 shares during the last quarter. Arizona State Retirement System raised its position in shares of Cavco Industries by 6.5% in the fourth quarter. Arizona State Retirement System now owns 13,170 shares of the construction company’s stock valued at $1,717,000 after buying an additional 805 shares during the last quarter. Rhumbline Advisers raised its position in shares of Cavco Industries by 21.3% in the fourth quarter. Rhumbline Advisers now owns 25,265 shares of the construction company’s stock valued at $3,294,000 after buying an additional 4,445 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new position in shares of Cavco Industries in the fourth quarter valued at approximately $424,000. Institutional investors own 92.11% 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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