Cavco Industries, Inc. (NASDAQ:CVCO) was the target of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 142,200 shares, a decline of 11.5% from the January 15th total of 160,600 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average daily trading volume, of 42,600 shares, the short-interest ratio is presently 3.3 days.

Shares of NASDAQ:CVCO traded down $1.34 during trading hours on Friday, hitting $229.84. 25,985 shares of the company’s stock traded hands, compared to its average volume of 51,071. Cavco Industries has a 1 year low of $112.00 and a 1 year high of $236.10. The business has a fifty day moving average price of $213.50 and a 200-day moving average price of $196.95. The firm has a market capitalization of $2.13 billion, a P/E ratio of 25.59 and a beta of 1.52. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.10 and a quick ratio of 2.42.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, January 30th. The construction company reported $2.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.01 by $0.24. The business had revenue of $273.70 million during the quarter, compared to analyst estimates of $262.34 million. Cavco Industries had a return on equity of 14.60% and a net margin of 7.93%. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.44 earnings per share.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Cavco Industries by 1.0% in the second quarter. BlackRock Inc. now owns 1,333,215 shares of the construction company’s stock valued at $210,035,000 after purchasing an additional 13,093 shares during the period. State Street Corp boosted its holdings in shares of Cavco Industries by 0.4% in the third quarter. State Street Corp now owns 282,315 shares of the construction company’s stock valued at $54,230,000 after purchasing an additional 1,040 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Cavco Industries by 0.8% in the fourth quarter. Bank of New York Mellon Corp now owns 234,566 shares of the construction company’s stock valued at $45,830,000 after purchasing an additional 1,977 shares during the period. GW&K Investment Management LLC boosted its holdings in shares of Cavco Industries by 13.7% in the third quarter. GW&K Investment Management LLC now owns 187,597 shares of the construction company’s stock valued at $36,036,000 after purchasing an additional 22,584 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Cavco Industries by 33.6% in the fourth quarter. Handelsbanken Fonder AB now owns 167,000 shares of the construction company’s stock valued at $32,628,000 after purchasing an additional 42,000 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Several research analysts have issued reports on CVCO shares. BidaskClub upgraded Cavco Industries from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Craig Hallum boosted their target price on Cavco Industries from $192.00 to $215.00 and gave the company a “hold” rating in a research report on Monday, February 3rd.

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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