MH/RV Ranking moves to 7 on IBD Scale

mh ready for shipment  wikipediaInvestors Business Daily (IBD) tells MHProNews that producers of manufactured homes and recreational vehicles have moved up the IBD rankings of 197 industry groups from 120th six weeks ago to the current 7th spot. Termed the Building-Mobile/Manufacturing & RV group, the MH/RV ranking was in the 89th spot just three weeks ago.

IBD specifically notes that Cavco Industries, Inc. (NASDAQ:CVCO), in their recent quarterly filing reported their $0.89 earnings per share was up 46 percent from a year ago, marking the largest gain in five years. Sales rose 38 percent to $192 million. As MHProNews reported in the stock market report of Fri., Oct. 30, Cavco’s stock skyrocketed 19.15 percent to close at $98.60, following the release of their financials. Cavco produces manufactured homes, park models, modular homes, vacation cabins and commercial modular structures.

IBD also notes that the quarterly results for Patrick Industries (NASDAQ:PATK) indicates the company posted earnings of $0.58 per share, up 29 percent from a year ago. Sales for Patrick rose 14 percent to $214.8 million. Acquisitions from the last two years has helped fuel growth. Patrick manufactures and distributes component products to the manufactured housing and recreational vehicle industries.

The Recreational Vehicle Industry Association (RVIA) reported last week that wholesale shipments of RVs hit 27,960 for the quarter, a rise of 12.4 percent from one year ago. ##

(Photo credit: wikipediacommons-manufactured homes ready for shipment)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.


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