Dernières nouvelles pour Cavco Indus (NASDAQ:CVCO) Stock

Cavco Indus

Cavco Industries Inc designs and produces factory-built homes under the Cavco Homes, Fleetwood Homes, and Palm Harbor Homes brands. It also produces modular homes, park model homes, and vacation cabins, as well as commercial structures, among others. The company operates principally in two segments: Factory-built housing, which includes wholesale and retail systems-built housing operations, and the Financial services segment, which includes manufactured housing consumer finance and insurance. Cavco receives a majority of its revenue from the Factory-built housing segment.

Cavco Industries Inc

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Shares of stocks within the broader consumer discretionary sector are trading higher. The sector may be trading up amid the release of better-than-expected ADP employment data.

Cavco Industries shares are trading higher after the company reported better-than-expected Q3 EPS and revenue results.

<p><strong>Cavco Indus</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVCO#NASDAQ">CVCO</a>) released its Q3 earnings on Thursday, January 30, 2025 at 04:05 PM.</p>
<p>Here's what's important from the earnings announcement.</p>
<h3>Earnings</h3>
<p>Cavco Indus beat estimated earnings by 41.0%, reporting an EPS of $6.9 versus an estimate of $4.89.</p>
<p>Revenue was up $75.27 million from the same period last year.</p>
<h3>Previous Earnings Records</h3>
<p>The company beat on EPS by $0.52 in the last quarter, resulting in a 9.0% increase share price change the following day.</p>
<p>Here's a look at Cavco Indus's past performance:</p>
<p>
<table>
<thead>
<tr>
<th><strong>Quarter</strong></th>
<th><strong>Q2 2025</strong></th>
<th><strong>Q1 2025</strong></th>
<th><strong>Q4 2024</strong></th>
<th><strong>Q3 2024</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>EPS Estimate</strong></td>
<td>4.76</td>
<td>4.70</td>
<td>4.51</td>
<td>4.27</td>
</tr>
<tr>
<td><strong>EPS Actual</strong></td>
<td>5.28</td>
<td>4.11</td>
<td>4.03</td>
<td>4.27</td>
</tr>
<tr>
<td><strong>Revenue Estimate</strong></td>
<td>479.79M</td>
<td>462.32M</td>
<td>470.11M</td>
<td>425.88M</td>
</tr>
<tr>
<td><strong>Revenue Actual</strong></td>
<td>507.46M</td>
<td>477.60M</td>
<td>420.12M</td>
<td>446.77M</td>
</tr>
</tbody>
</table>
</p>
<p>To track all earnings releases for Cavco Indus <a href="https://www.benzinga.com/quote/CVCO/earnings">visit their earnings calendar here.</a> </p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Earnings

Cavco Indus Q3 Earnings Assessment

<p>The earnings results for <strong>Cavco Indus</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVCO#NASDAQ">CVCO</a>) for Q3 were made public on Thursday, January 30, 2025 at 04:05 PM.</p>
<p>Here's a comprehensive overview of the announcement.</p>
<h3>Earnings</h3>
<p>Cavco Indus beat estimated earnings by 41.0%, reporting an EPS of $6.9 versus an estimate of $4.89.</p>
<p>Revenue was up $75.27 million from the same period last year.</p>
<h3>Analysis of Past Earnings</h3>
<p>The company beat on EPS by $0.52 in the last quarter, resulting in a 9.0% increase share price change the following day.</p>
<p>Here's a look at Cavco Indus's past performance:</p>
<p>
<table>
<thead>
<tr>
<th><strong>Quarter</strong></th>
<th><strong>Q2 2025</strong></th>
<th><strong>Q1 2025</strong></th>
<th><strong>Q4 2024</strong></th>
<th><strong>Q3 2024</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>EPS Estimate</strong></td>
<td>4.76</td>
<td>4.70</td>
<td>4.51</td>
<td>4.27</td>
</tr>
<tr>
<td><strong>EPS Actual</strong></td>
<td>5.28</td>
<td>4.11</td>
<td>4.03</td>
<td>4.27</td>
</tr>
<tr>
<td><strong>Revenue Estimate</strong></td>
<td>479.79M</td>
<td>462.32M</td>
<td>470.11M</td>
<td>425.88M</td>
</tr>
<tr>
<td><strong>Revenue Actual</strong></td>
<td>507.46M</td>
<td>477.60M</td>
<td>420.12M</td>
<td>446.77M</td>
</tr>
</tbody>
</table>
</p>
<p>To track all earnings releases for Cavco Indus <a href="https://www.benzinga.com/quote/CVCO/earnings">visit their earnings calendar here.</a> </p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Cavco Indus: Q3 Earnings Insights

<p>The Q3 earnings report for <strong>Cavco Indus</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVCO#NASDAQ">CVCO</a>) was released on Thursday, January 30, 2025 at 04:05 PM.</p>
<p>Here's what investors need to know about the latest announcement.</p>
<h3>Earnings</h3>
<p>Cavco Indus beat estimated earnings by 41.0%, reporting an EPS of $6.9 versus an estimate of $4.89.</p>
<p>Revenue was up $75.27 million from the same period last year.</p>
<h3>Past Earnings Performance</h3>
<p>The company beat on EPS by $0.52 in the last quarter, resulting in a 9.0% increase share price change the following day.</p>
<p>Here's a look at Cavco Indus's past performance:</p>
<p>
<table>
<thead>
<tr>
<th><strong>Quarter</strong></th>
<th><strong>Q2 2025</strong></th>
<th><strong>Q1 2025</strong></th>
<th><strong>Q4 2024</strong></th>
<th><strong>Q3 2024</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>EPS Estimate</strong></td>
<td>4.76</td>
<td>4.70</td>
<td>4.51</td>
<td>4.27</td>
</tr>
<tr>
<td><strong>EPS Actual</strong></td>
<td>5.28</td>
<td>4.11</td>
<td>4.03</td>
<td>4.27</td>
</tr>
<tr>
<td><strong>Revenue Estimate</strong></td>
<td>479.79M</td>
<td>462.32M</td>
<td>470.11M</td>
<td>425.88M</td>
</tr>
<tr>
<td><strong>Revenue Actual</strong></td>
<td>507.46M</td>
<td>477.60M</td>
<td>420.12M</td>
<td>446.77M</td>
</tr>
</tbody>
</table>
</p>
<p>To track all earnings releases for Cavco Indus <a href="https://www.benzinga.com/quote/CVCO/earnings">visit their earnings calendar here.</a> </p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Cavco Indus Earnings Analysis: Q3 Recap

<p><strong>Cavco Indus</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVCO#NASDAQ">CVCO</a>) announced its Q3 earnings on Thursday, January 30, 2025 at 04:05 PM.</p>
<p>Here's a breakdown of the earnings report.</p>
<h3>Earnings</h3>
<p>Cavco Indus beat estimated earnings by 41.0%, reporting an EPS of $6.9 versus an estimate of $4.89.</p>
<p>Revenue was up $75.27 million from the same period last year.</p>
<h3>Previous Earnings Records</h3>
<p>During the previous quarter, the company beat on EPS by $0.52, leading to a 9.0% increase share price change the next day.</p>
<p>Here's a look at Cavco Indus's past performance:</p>
<p>
<table>
<thead>
<tr>
<th><strong>Quarter</strong></th>
<th><strong>Q2 2025</strong></th>
<th><strong>Q1 2025</strong></th>
<th><strong>Q4 2024</strong></th>
<th><strong>Q3 2024</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>EPS Estimate</strong></td>
<td>4.76</td>
<td>4.70</td>
<td>4.51</td>
<td>4.27</td>
</tr>
<tr>
<td><strong>EPS Actual</strong></td>
<td>5.28</td>
<td>4.11</td>
<td>4.03</td>
<td>4.27</td>
</tr>
<tr>
<td><strong>Revenue Estimate</strong></td>
<td>479.79M</td>
<td>462.32M</td>
<td>470.11M</td>
<td>425.88M</td>
</tr>
<tr>
<td><strong>Revenue Actual</strong></td>
<td>507.46M</td>
<td>477.60M</td>
<td>420.12M</td>
<td>446.77M</td>
</tr>
</tbody>
</table>
</p>
<p>To track all earnings releases for Cavco Indus <a href="https://www.benzinga.com/quote/CVCO/earnings">visit their earnings calendar here.</a> </p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Earnings Summary: Cavco Indus Q3

<p><strong>Cavco Indus</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVCO#NASDAQ">CVCO</a>) released its Q3 earnings on Thursday, January 30, 2025 at 04:05 PM.</p>
<p>Here's what's important from the earnings announcement.</p>
<h3>Earnings</h3>
<p>Cavco Indus beat estimated earnings by 41.0%, reporting an EPS of $6.9 versus an estimate of $4.89.</p>
<p>Revenue was up $75.27 million from the same period last year.</p>
<h3>Previous Earnings Records</h3>
<p>In the previous quarter, the company beat on EPS by $0.52, resulting in a 9.0% increase change in the share price the following day.</p>
<p>Here's a look at Cavco Indus's past performance:</p>
<p>
<table>
<thead>
<tr>
<th><strong>Quarter</strong></th>
<th><strong>Q2 2025</strong></th>
<th><strong>Q1 2025</strong></th>
<th><strong>Q4 2024</strong></th>
<th><strong>Q3 2024</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>EPS Estimate</strong></td>
<td>4.76</td>
<td>4.70</td>
<td>4.51</td>
<td>4.27</td>
</tr>
<tr>
<td><strong>EPS Actual</strong></td>
<td>5.28</td>
<td>4.11</td>
<td>4.03</td>
<td>4.27</td>
</tr>
<tr>
<td><strong>Revenue Estimate</strong></td>
<td>479.79M</td>
<td>462.32M</td>
<td>470.11M</td>
<td>425.88M</td>
</tr>
<tr>
<td><strong>Revenue Actual</strong></td>
<td>507.46M</td>
<td>477.60M</td>
<td>420.12M</td>
<td>446.77M</td>
</tr>
</tbody>
</table>
</p>
<p>To track all earnings releases for Cavco Indus <a href="https://www.benzinga.com/quote/CVCO/earnings">visit their earnings calendar here.</a> </p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Insights into Cavco Indus Q3 Earnings

<p>The earnings results for <strong>Cavco Indus</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVCO#NASDAQ">CVCO</a>) for Q3 were made public on Thursday, January 30, 2025 at 04:05 PM.</p>
<p>Here's a comprehensive overview of the announcement.</p>
<h3>Earnings</h3>
<p>Cavco Indus beat estimated earnings by 41.0%, reporting an EPS of $6.9 versus an estimate of $4.89.</p>
<p>Revenue was up $75.27 million from the same period last year.</p>
<h3>Previous Earnings Records</h3>
<p>The company beat on EPS by $0.52 in the previous quarter, leading to a 9.0% increase share price change the next day.</p>
<p>Here's a look at Cavco Indus's past performance:</p>
<p>
<table>
<thead>
<tr>
<th><strong>Quarter</strong></th>
<th><strong>Q2 2025</strong></th>
<th><strong>Q1 2025</strong></th>
<th><strong>Q4 2024</strong></th>
<th><strong>Q3 2024</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>EPS Estimate</strong></td>
<td>4.76</td>
<td>4.70</td>
<td>4.51</td>
<td>4.27</td>
</tr>
<tr>
<td><strong>EPS Actual</strong></td>
<td>5.28</td>
<td>4.11</td>
<td>4.03</td>
<td>4.27</td>
</tr>
<tr>
<td><strong>Revenue Estimate</strong></td>
<td>479.79M</td>
<td>462.32M</td>
<td>470.11M</td>
<td>425.88M</td>
</tr>
<tr>
<td><strong>Revenue Actual</strong></td>
<td>507.46M</td>
<td>477.60M</td>
<td>420.12M</td>
<td>446.77M</td>
</tr>
</tbody>
</table>
</p>
<p>To track all earnings releases for Cavco Indus <a href="https://www.benzinga.com/quote/CVCO/earnings">visit their earnings calendar here.</a> </p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Recap: Cavco Indus Q3 Earnings

<p>Cavco Indus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVCO#NASDAQ">CVCO</a>) reported quarterly earnings of $6.90 per share which beat the analyst consensus estimate of $4.89 by 41.1 percent. This is a 61.59 percent increase over earnings of $4.27 per share from the same period last year.  The company reported quarterly sales of $522.04 million which beat the analyst consensus estimate of $480.31 million by 8.69 percent.  This is a 16.85 percent increase over sales of $446.77 million the same period last year.</p>


Earnings Beats

News

Cavco Indus Q3 EPS $6.90 Beats $4.89 Estimate, Sales $522.04M Beat $480.31M Estimate

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Earnings Scheduled For January 30, 2025

<p>Zelman &amp; Assoc   initiates coverage on Cavco Indus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVCO#NASDAQ">CVCO</a>) with a Outperform rating.</p>


Initiation

Analyst Ratings

Zelman & Assoc Initiates Coverage On Cavco Indus with Outperform Rating

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Shares of companies within the broader consumer discretionary sector are trading higher following softer-than-expected December inflation data.

<p>Wedbush  analyst Jay McCanless   downgrades Cavco Indus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVCO#NASDAQ">CVCO</a>) from Outperform to Neutral and maintains the price target from $480 to $480.</p>


Downgrades

Price Target

Wedbush Downgrades Cavco Indus to Neutral, Maintains Price Target to $480

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Shares of companies within the broader consumer discretionary sector are trading higher. Investors may be reacting to the US presidential election and its impact on consumer spending.

<p>Craig-Hallum  analyst Greg Palm   maintains Cavco Indus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVCO#NASDAQ">CVCO</a>) with a Buy and raises the price target from $422 to $495.</p>


Craig-Hallum Maintains Buy on Cavco Indus, Raises Price Target to $495

Cavo Industries shares are trading higher after the company reported better-than-expected Q2 financial results and announced a $100 million stock repurchase program.

Buybacks

Cavco Industries Plans New $100M Stock Repurchase Program

<p>Cavco Indus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVCO#NASDAQ">CVCO</a>) reported quarterly earnings of $5.28 per share which beat the analyst consensus estimate of $4.98 by 6.02 percent. This is a 10.92 percent increase over earnings of $4.76 per share from the same period last year.  The company reported quarterly sales of $507.46 million which beat the analyst consensus estimate of $479.79 million by 5.77 percent.  This is a 12.26 percent increase over sales of $452.03 million the same period last year.</p>


Cavco Indus Q2 2025 GAAP EPS $5.28 Beats $4.98 Estimate, Sales $507.46M Beat $479.79M Estimate

<p><strong>Cavco Indus</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVCO#NASDAQ">CVCO</a>) is set to give its latest quarterly earnings report on Thursday, 2024-10-31. Here's what investors need to know before the announcement.</p>
<p>Analysts estimate that Cavco Indus will report an <strong>earnings per share</strong> (EPS) of $4.76. </p>
<p>Investors in Cavco Indus are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.</p>
<p>It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.</p>
<h3>Overview of Past Earnings</h3>
<p>Last quarter the company missed EPS by $0.59, which was followed by a 4.58% drop in the share price the next day.</p>
<p>Here's a look at Cavco Indus's past performance and the resulting price change:</p>
<p>
<table>
<thead>
<tr>
<th><strong>Quarter</strong></th>
<th><strong>Q1 2025</strong></th>
<th><strong>Q4 2024</strong></th>
<th><strong>Q3 2024</strong></th>
<th><strong>Q2 2024</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>EPS Estimate</strong></td>
<td>4.70</td>
<td>4.51</td>
<td>4.27</td>
<td>5.27</td>
</tr>
<tr>
<td><strong>EPS Actual</strong></td>
<td>4.11</td>
<td>4.03</td>
<td>4.27</td>
<td>4.76</td>
</tr>
<tr>
<td><strong>Price Change %</strong></td>
<td>-5.0%</td>
<td>-2.0%</td>
<td>2.0%</td>
<td>6.0%</td>
</tr>
</tbody>
</table>
</p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1730307821_0.png" alt="eps graph" /></p>
<h3>Analysts' Perspectives on Cavco Indus</h3>
<p>For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding Cavco Indus.</p>
<p>Analysts have provided Cavco Indus with 3 ratings, resulting in a consensus rating of Outperform. The average one-year price target stands at $434.0, suggesting a potential 4.92% upside.</p>
<h3>Peer Ratings Overview</h3>
<p>This comparison focuses on the analyst ratings and average 1-year price targets of Green Brick Partners, Tri Pointe Homes and Dream Finders Homes, three major players in the industry, shedding light on their relative performance expectations and market positioning.</p>
<ul>
<li>The consensus outlook from analysts is an Neutral trajectory for Green Brick Partners, with an average 1-year price target of $78.0, indicating a potential 81.14% downside.</li>
<li>For Tri Pointe Homes, analysts project an Neutral trajectory, with an average 1-year price target of $47.17, indicating a potential 88.6% downside.</li>
<li>Dream Finders Homes received a Neutral consensus from analysts, with an average 1-year price target of $38.0, implying a potential 90.81% downside.</li>
</ul>
<h3>Peers Comparative Analysis Summary</h3>
<p>The peer analysis summary outlines pivotal metrics for Green Brick Partners, Tri Pointe Homes and Dream Finders Homes, demonstrating their respective standings within the industry and offering valuable insights into their market positions and comparative performance.</p>
<p>
<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Cavco Indus</td>
<td>Outperform</td>
<td>0.36%</td>
<td>$103.40M</td>
<td>3.32%</td>
</tr>
<tr>
<td>Green Brick Partners</td>
<td>Neutral</td>
<td>22.87%</td>
<td>$189.67M</td>
<td>7.67%</td>
</tr>
<tr>
<td>Tri Pointe Homes</td>
<td>Neutral</td>
<td>36.51%</td>
<td>$265.90M</td>
<td>3.50%</td>
</tr>
<tr>
<td>Dream Finders Homes</td>
<td>Neutral</td>
<td>11.68%</td>
<td>$202.91M</td>
<td>7.69%</td>
</tr>
</tbody>
</table>
</p>
<p>Key Takeaway:</p>
<p>Cavco Indus ranks at the bottom for Revenue Growth and Gross Profit, while it ranks in the middle for Return on Equity among its peers. The company's Revenue Growth is the lowest, Gross Profit is the lowest, and Return on Equity is higher than only one peer.</p>
<h3>Discovering Cavco Indus: A Closer Look</h3>
<p>Cavco Industries Inc designs and produces factory-built homes under the Cavco Homes, Fleetwood Homes, and Palm Harbor Homes brands. It also produces modular homes, park model homes, and vacation cabins, as well as commercial structures, among others. The company operates principally in two segments: Factory-built housing, which includes wholesale and retail systems-built housing operations, and the Financial services segment, which includes manufactured housing consumer finance and insurance. Cavco receives a majority of its revenue from the Factory-built housing segment.</p>
<h3>Financial Milestones: Cavco Indus's Journey</h3>
<p><strong>Market Capitalization Analysis:</strong> Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.</p>
<p><strong>Revenue Growth:</strong> Cavco Indus displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately <strong>0.36%</strong>. This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Consumer Discretionary sector.</p>
<p><strong>Net Margin:</strong> Cavco Indus's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of <strong>7.21%,</strong> the company may face hurdles in effective cost management.</p>
<p><strong>Return on Equity (ROE):</strong> Cavco Indus's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of <strong>3.32%,</strong> the company may encounter challenges in delivering satisfactory returns for shareholders.</p>
<p><strong>Return on Assets (ROA):</strong> The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of <strong>2.52%,</strong> the company may need to address challenges in generating satisfactory returns from its assets.</p>
<p><strong>Debt Management:</strong> The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at <strong>0.03</strong>.</p>
<p><a href="https://www.benzinga.com/quote/CVCO/earnings"><strong>To track all earnings releases for Cavco Indus visit their earnings calendar on our site.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


Cavco Indus's Earnings Outlook

<p>After dropping to their lowest level in two years following the Federal Reserve&#39;s September rate cut announcement, 30-year fixed-rate mortgages have climbed higher once again. Nonetheless, the environment is looking more favorable for homebuilding companies, as buyers are incentivized to make offers, and companies are better able to access loans to fund development projects and growth.</p>
<p>The top homebuilder stocks include major operations like <strong>D.R. Horton Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dhi#NYSE">DHI</a>) and <strong>Lennar Corp.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/len#NYSE">LEN</a>), each of which closes tens of thousands of homes per year and has a market capitalization of around $50 billion or more. With interest rates expected to continue to fall in future FOMC meetings over the coming months, there may be more space in the competitive homebuilding market for smaller players as well. <strong>Cavco Industries Inc.</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cvco#NASDAQ">CVCO</a>) is one such small homebuilding stock that nonetheless warrants investor attention.</p>
<h2><strong>Manufactured Home Builder Ready to Address Housing Crisis</strong></h2>
<p>Cavco is a mid-cap firm that manufactures pre-fabricated homes and other buildings as well as RVs. It also provides financing for customers through a financial services division. Given the significant need for affordable housing throughout the U.S.&mdash;there is a shortage of an estimated 7.3 million rental homes for renters with extremely low incomes. For example&mdash;Cavco is a company that could be advantageously positioned to address this problem within the broader real estate sector.</p>
<p>The firm is seeing this demand reflected in its sales volume, capacity utilization, and other key metrics. For the first quarter of the 2025 fiscal year, ended late June 2024, Cavco reported 20% sequential improvement to home sales volume and capacity utilization of 65% as compared with 60% in the prior quarter. Order increases of about 25% sequentially have contributed to a backlog of $232 million by the end of the quarter, up from $191 million three months earlier.</p>
<p>In October, the U.S. Department of Housing and Urban Development (HUD) announced sweeping changes to its Manufactured Home Construction and Safety Standards, including allowing immediate construction of duplex, triplex and quadplex manufactured homes nationwide. Cavco is well-positioned to capitalize on this shift with new development projects immediately.</p>
<h2><strong>Looking at Cavco&#39;s Fundamentals</strong></h2>
<p>Cavco&#39;s fundamentals are a bit more mixed, as it maintains a forward P/E ratio of 25.1, comparably high relative to the rest of the industry. It also experienced a 310-basis-point consolidated gross margin decrease, year-over-year, to 21.7% in the first fiscal quarter, the result of lower average selling prices and weather events which led to losses in its financial services segment. Expenses also increased by more than 5% to $64.9 million for the quarter as a result of acquisition costs and other factors.</p>
<p>On the other hand, net revenue improved by about half a percent to $477.6 million, an important reversal after the prior quarter&#39;s 11.8% year-over-year decline in this area. The company&#39;s cash balance of over $359 million marks an improvement of $6.6 million relative to a year earlier, another strong sign as the firm prepares for a rush in affordable housing manufacturing.</p>
<p>Investors may be wondering if, after a run of 62.4% growth in the last year, Cavco shares still have room to climb. Based on analyst predictions, the firm has a consensus price target of $438.50, representing just under 1% of upside potential. At the same time, analysts expect earnings growth to continue as the company solidifies its upward movement in this area.</p>
<h2><strong>Comparing Cavco to Other Homebuilders</strong></h2>
<p>Taking D.R. Horton and Lennar as comparison points, Cavco may be relatively overvalued. These other firms have forward P/E ratios of 13.3 and 12.7, respectively. However, both firms have already experienced skyrocketing share prices in the last year, with returns of 83.4% for D.R. Horton and 73.7% for Lennar during that time. This may be part of the reason analysts have set price targets below current levels for both of these firms.</p>
<p>Cavco&#39;s specialization in low-cost, factory-built homes could give it an edge if the push to create new affordable housing options across the country continues. Though some of its fundamental metrics may give investors pause, it also has a strong position to benefit compared to other homebuilders.</p>
<p>The article &quot;<a href="https://www.marketbeat.com/originals/cavcos-future-looks-bright-as-affordable-housing-demand-soars/">Cavco&#39;s Future Looks Bright as Affordable Housing Demand Soars</a>&quot; first appeared on MarketBeat.</p>


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