Brokerages Set $114.00 Target Price for Cavco Industries Inc. (CVCO)
Cavco Industries Inc. (NASDAQ:CVCO) has earned an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.
Brokers have set a 12-month consensus price objective of $114.00 for the company, according to Zacks. Zacks has also given Cavco Industries an industry rank of 5 out of 265 based on the ratings given to related companies.
Separately, Sidoti assumed coverage on shares of Cavco Industries in a research note on Wednesday, September 7th. They issued a “neutral” rating and a $114.00 target price on the stock.
In other news, Director Steven G. Bunger sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $101.20, for a total value of $1,113,200.00. Following the transaction, the director now owns 3,000 shares in the company, valued at $303,600. The sale was disclosed in a legal filing with the SEC, which is available at this link. 9.58% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Anchor Capital Advisors LLC increased its position in shares of Cavco Industries by 0.8% in the second quarter. Anchor Capital Advisors LLC now owns 20,922 shares of the company’s stock valued at $1,960,000 after buying an additional 157 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Cavco Industries by 17.9% in the second quarter. Bank of New York Mellon Corp now owns 230,334 shares of the company’s stock valued at $21,583,000 after buying an additional 34,965 shares in the last quarter. Capital Fund Management S.A. purchased a new position in shares of Cavco Industries during the second quarter valued at about $731,000. GW&K Investment Management LLC boosted its position in Cavco Industries by 109.2% in the second quarter. GW&K Investment Management LLC now owns 75,829 shares of the company’s stock valued at $7,105,000 after buying an additional 39,580 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in Cavco Industries during the second quarter valued at $347,000. Hedge funds and other institutional investors own 95.69% of the company’s stock.
Cavco Industries (NASDAQ:CVCO) opened at 97.76 on Tuesday. The company has a market capitalization of $877.01 million, a P/E ratio of 31.04 and a beta of 1.85. Cavco Industries has a 12-month low of $70.28 and a 12-month high of $110.67. The company has a 50-day moving average of $99.97 and a 200 day moving average of $96.11.
Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Tuesday, August 9th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.60. The firm had revenue of $185.10 million for the quarter, compared to the consensus estimate of $181.40 million. Cavco Industries had a net margin of 3.89% and a return on equity of 8.22%. The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Equities research analysts forecast that Cavco Industries will post $3.55 earnings per share for the current fiscal year.
About Cavco Industries
Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.
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