Cavco Industries, Inc. (NASDAQ:CVCO) Given Average Rating of “Hold” by Brokerages

Cavco Industries, Inc. (NASDAQ:CVCO) has received an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $550.00.

CVCO has been the topic of several research analyst reports. Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. Zacks Research lowered shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. CJS Securities upgraded shares of Cavco Industries to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Weiss Ratings cut Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday.

Cavco Industries Stock Down 2.1%

CVCO stock traded down $12.29 during trading on Monday, reaching $564.97. 38,437 shares of the company’s stock were exchanged, compared to its average volume of 221,820. Cavco Industries has a 1-year low of $393.53 and a 1-year high of $713.01. The company’s fifty day moving average price is $603.99 and its 200-day moving average price is $571.22. The firm has a market cap of $4.38 billion, a PE ratio of 24.65 and a beta of 1.32.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, January 29th. The construction company reported $5.58 EPS for the quarter, missing analysts’ consensus estimates of $6.00 by ($0.42). Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. The business had revenue of $580.99 million for the quarter, compared to analyst estimates of $593.37 million. As a group, sell-side analysts expect that Cavco Industries will post 21.93 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO William C. Boor acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were bought at an average price of $495.00 per share, with a total value of $495,000.00. Following the purchase, the chief executive officer owned 48,022 shares of the company’s stock, valued at approximately $23,770,890. This represents a 2.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven W. Moster acquired 300 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was purchased at an average price of $456.23 per share, with a total value of $136,869.00. Following the acquisition, the director owned 2,976 shares of the company’s stock, valued at approximately $1,357,740.48. This trade represents a 11.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 1,800 shares of company stock worth $866,592. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cavco Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Salomon & Ludwin LLC acquired a new position in shares of Cavco Industries in the 3rd quarter worth approximately $31,000. Aster Capital Management DIFC Ltd bought a new stake in Cavco Industries during the fourth quarter worth approximately $46,000. Kemnay Advisory Services Inc. acquired a new position in Cavco Industries in the fourth quarter worth approximately $50,000. Los Angeles Capital Management LLC acquired a new position in Cavco Industries in the fourth quarter worth approximately $54,000. Finally, Osaic Holdings Inc. increased its holdings in shares of Cavco Industries by 118.2% in the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock valued at $57,000 after buying an additional 65 shares in the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

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.