Cavco Industries, Inc. (NASDAQ:CVCO) Given Consensus Rating of “Moderate Buy” by Brokerages

Cavco Industries, Inc. (NASDAQ:CVCO) has been assigned an average rating of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $625.00.

A number of equities analysts have commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. UBS Group initiated coverage on Cavco Industries in a research report on Friday, June 5th. They set a “buy” rating and a $700.00 price target on the stock. Finally, Zacks Research upgraded Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd.

Insider Buying and Selling at Cavco Industries

In other news, EVP Allison Aden sold 1,473 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $625.00, for a total value of $920,625.00. Following the completion of the transaction, the executive vice president owned 9,147 shares of the company’s stock, valued at approximately $5,716,875. This represents a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total transaction of $294,380.00. Following the completion of the sale, the director directly owned 6,169 shares of the company’s stock, valued at $3,632,060.44. The trade was a 7.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 3,541 shares of company stock worth $2,121,932. 1.70% of the stock is owned by insiders.

Institutional Trading of Cavco Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in CVCO. Northwestern Mutual Wealth Management Co. grew its stake in shares of Cavco Industries by 852,093.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company’s stock worth $1,062,226,000 after acquiring an additional 1,797,917 shares during the last quarter. State Street Corp increased its stake in shares of Cavco Industries by 6.1% in the second quarter. State Street Corp now owns 380,682 shares of the construction company’s stock valued at $165,380,000 after buying an additional 21,837 shares in the last quarter. Boston Partners increased its stake in shares of Cavco Industries by 82.8% in the third quarter. Boston Partners now owns 369,177 shares of the construction company’s stock valued at $213,866,000 after buying an additional 167,230 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Cavco Industries by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 232,847 shares of the construction company’s stock valued at $137,569,000 after buying an additional 1,018 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Cavco Industries by 53.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 213,572 shares of the construction company’s stock worth $126,166,000 after buying an additional 74,542 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors.

Cavco Industries Price Performance

CVCO stock remained flat at $598.73 during trading on Friday. 77,131 shares of the company’s stock traded hands, compared to its average volume of 122,493. The stock has a market cap of $4.61 billion, a PE ratio of 24.98 and a beta of 1.28. Cavco Industries has a 12-month low of $397.38 and a 12-month high of $713.01. The firm’s 50 day moving average price is $543.60 and its two-hundred day moving average price is $556.91.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, beating the consensus estimate of $5.30 by $0.12. The business had revenue of $550.13 million during the quarter, compared to analyst estimates of $571.06 million. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. As a group, equities analysts forecast that Cavco Industries will post 25 earnings per share for the current fiscal year.

Cavco Industries Company Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.