Company profile

Ticker
CVCO
Exchange
Website
CEO
William C. Boor
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
Former names
Cavco Industries Inc
SEC CIK
IRS number
860214910

CVCO stock data

(
)

Calendar

27 May 20
12 Jul 20
28 Mar 21

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 255.34M 273.72M 268.68M 264.04M
Net income 12M 20.9M 20.89M 21.28M
Diluted EPS 1.29 2.25 2.25 2.31
Net profit margin 4.70% 7.63% 7.77% 8.06%
Operating income 14.48M 23.01M 22.38M 25.03M
Net change in cash 24.94M 26.4M -9.34M 12.45M
Cash on hand 241.83M 216.88M 190.48M 199.82M
Cost of revenue 203.44M 213.87M 210.21M 203.74M
Annual (USD) Mar 20 Mar 19 Mar 18 Apr 17
Revenue 1.06B 962.75M 871.24M 773.8M
Net income 75.07M 68.62M 61.5M 37.96M
Diluted EPS 8.1 7.4 6.68 4.17
Net profit margin 7.07% 7.13% 7.06% 4.91%
Operating income 84.91M 84.14M 73.77M 56.81M
Net change in cash 54.46M 604K 54.22M 34.78M
Cash on hand 241.83M 187.37M 186.77M 132.54M
Cost of revenue 831.26M 757.04M 690.56M 615.76M

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
4 Jun 20 Urness Daniel L Common Stock Payment of exercise Dispose F No 200.17 3,041 608.72K 23,773
4 Jun 20 Urness Daniel L Common Stock Option exercise Aquire M No 52.96 5,200 275.39K 26,814
4 Jun 20 Urness Daniel L NQSO Common Stock Option exercise Dispose M No 52.96 5,200 275.39K 0
4 Jun 20 Like Steven K. Common Stock Payment of exercise Dispose F No 200.17 1,430 286.24K 2,814
4 Jun 20 Like Steven K. Common Stock Option exercise Aquire M No 52.96 2,500 132.4K 4,244
4 Jun 20 Like Steven K. NQSO Common Stock Option exercise Dispose M No 52.96 2,500 132.4K 0
20 May 20 Reynolds Simone NQSO Common Stock Grant Aquire A No 167.6 800 134.08K 800
90.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 187 201 -7.0%
Opened positions 28 30 -6.7%
Closed positions 42 23 +82.6%
Increased positions 64 63 +1.6%
Reduced positions 69 69
13F shares
Current Prev Q Change
Total value 2.83B 3.49B -19.1%
Total shares 8.33M 8.51M -2.1%
Total puts 11.5K 16.8K -31.5%
Total calls 0 18.6K EXIT
Total put/call ratio Infinity 0.9 +Infinity%
Largest owners
Shares Value Change
BLK BlackRock 1.31M $190.52M -2.3%
N Price T Rowe Associates 939.86K $136.22M -4.4%
Vanguard 743.16K $107.71M +1.4%
Wellington Management 665.53K $96.46M +64.2%
Dimensional Fund Advisors 450.93K $65.36M -3.0%
STT State Street 287.9K $41.73M +6.6%
GBL Gamco Investors, Inc. Et Al 265.39K $38.47M -2.2%
Broad Bay Capital Management 215K $31.16M +23.6%
BK Bank Of New York Mellon 173.29K $25.12M -26.1%
Capital World Investors 170.87K $24.77M 0.0%
Largest transactions
Shares Bought/sold Change
Wellington Management 665.53K +260.32K +64.2%
Norges Bank 0 -117.18K EXIT
Gendell Jeffrey L 15.85K -65.73K -80.6%
SF Stifel Financial 2.43K -65.61K -96.4%
BK Bank Of New York Mellon 173.29K -61.28K -26.1%
Ashford Capital Management 74.46K -47.67K -39.0%
Ziegler Capital Management 46.09K +46.09K NEW
N Price T Rowe Associates 939.86K -42.84K -4.4%
Broad Bay Capital Management 215K +41K +23.6%
Millennium Management 0 -32.05K EXIT

Financial report summary

?
Risks
  • The impact of local or national emergencies, including the COVID-19 pandemic, can adversely affect our financial results, condition and prospects, including such impacts from state and federal regulatory action that restricts our ability to operate our business in the ordinary course and impacts on (i) customer demand and the availability of financing for our products, (ii) our supply chain and the availability of raw materials for the manufacture of our products, (iii) the availability of labor and the health and safety of our workforce and (iv) our liquidity and access to the capital markets
  • The Company may not be able to successfully integrate past or future acquisitions to attain the anticipated benefits and such acquisitions may adversely impact the Company's liquidity
  • The Company's involvement in vertically integrated lines of business, including manufactured housing consumer finance, commercial finance and insurance, exposes the Company to certain risks
  • Information technology failures or cyber incidents could harm the Company's business
  • Tightened credit standards, curtailed lending activity by home-only lenders and increased government lending regulations continue to constrain the consumer financing market which could continue to restrict sales of the Company's homes
  • Availability of wholesale financing for industry distributors continues to be limited to a few floor plan lenders and lending limits may be reduced from time to time which can negatively affect distributor demand
  • The Company's participation in certain financing programs for the purchase of its products by industry distributors and consumers may expose the Company to additional risk of credit loss, which could adversely impact its liquidity and results of operations
  • The Company's results of operations could be adversely affected by significant warranty and construction defect claims on factory-built housing
  • The Company has contingent repurchase obligations related to wholesale financing provided to industry distributors
  • The Company's operating results could be affected by market forces and declining housing demand
  • The Company has incurred net losses in certain prior periods and there can be no assurance that it will generate income in the future
  • A write-off of all or part of the Company's goodwill could adversely affect its results of operations and financial condition
  • The cyclical and seasonal nature of the manufactured housing industry causes the Company's revenues and operating results to fluctuate, and we expect this cyclicality and seasonality to continue in the future
  • The Company's liquidity and ability to raise capital may be limited
  • The manufactured housing industry is highly competitive, and increased competition may result in lower revenue
  • If the Company is unable to establish or maintain relationships with its independent distributors who sell the Company's homes, revenue could decline
  • The Company's business and operations are concentrated in certain geographic regions, which could be impacted by market declines
  • The Company's results of operations can be adversely affected by labor shortages and the pricing and availability of raw materials
  • If the manufactured housing industry is not able to secure favorable local zoning ordinances, the Company's revenue could decline and its business could be adversely affected
  • The loss of any of the Company's executive officers could reduce its ability to execute its business strategy and could have a material adverse effect on its business and results of operations
  • Certain provisions of the Company's organizational documents could delay or make more difficult a change in control of the Company
  • Volatility of stock price
  • Deterioration in economic conditions and turmoil in financial markets could reduce the Company's earnings and financial condition
  • A prolonged delay by Congress and the President to approve budgets or continuing appropriation resolutions to facilitate the operations of the federal government could delay the completion of home sales and/or cause cancellations, and thereby negatively impact the Company's deliveries and revenues
  • Losses not covered by our Director and Officer ("D&O") insurance may be large, which could adversely impact the Company's financial performance
Management Discussion
  • Net Revenue.
  • In the factory-built housing segment, the increase was from improved home sales volume, including homes sold from the new Destiny Homes acquisition, which contributed $30.1 million in revenue, changes in product mix and higher home selling prices compared to the prior year.
  • Net factory-built housing revenue per home sold is a volatile metric dependent upon several factors. A primary factor is the price disparity between sales of homes to independent distributors, builders, communities and developers ("Wholesale") and sales of homes to consumers by Company-owned retail centers ("Retail"). Wholesale sales prices are primarily comprised of the home and the cost to ship the home from a homebuilding facility to the home-site. Retail home prices include these items and retail markup, as well as items that are largely subject to home buyer discretion, including, but not limited to, installation, utility connections, site improvements, landscaping and additional services. Changes to the proportion of home sales among these distribution channels between reporting periods impacts the overall net revenue per home sold. For the twelve months ended March 28, 2020, the Company sold 12,247 homes Wholesale and 2,853 Retail versus 11,806 homes Wholesale and 2,583 homes Retail in the comparable prior year period. Further, fluctuations in net factory-built housing revenue per home sold are the result of changes in product mix, which results from home buyer tastes and preferences as they select home types/models, as well as optional home upgrades when purchasing the home. These selections vary regularly based on consumer interests, local housing preferences and economic circumstances. Product prices are also periodically adjusted for the cost and availability of raw materials included in, and labor used to produce, each home. For these reasons, the Company has experienced, and expects to continue to experience, volatility in overall net factory-built housing revenue per home sold.
Content analysis ?
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H.S. freshman Bad
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