Cavco Industries ( (CVCO) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Cavco Industries shares dropped after the latest quarterly report revealed weaker earnings per share and a slowdown in both industry and HUD shipments, even though revenue rose compared with a year earlier. Management said it relied on existing order backlogs and holiday downtime to keep factory production steady and plans to hold off on increasing output until it sees how demand shapes up in the spring selling season. Executives also highlighted growing government focus on affordable housing and positive feedback from retailers, suggesting that these factors could help support a recovery if spring demand strengthens.
More about Cavco Industries
YTD Price Performance: 4.53%
Average Trading Volume: 160,829
Technical Sentiment Signal: Buy
Current Market Cap: $4.81B
For further insights into CVCO stock on TipRanks’ Stock Analysis page.
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