Cavco Industries, Inc. (NASDAQ:CVCO) Sees Large Decrease in Short Interest
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 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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