Cavco Industries, Inc. (NASDAQ:CVCO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Cavco Industries, Inc. (NASDAQ:CVCO) has been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $625.00.

CVCO has been the topic of a number of research analyst reports. Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. UBS Group initiated coverage on shares of Cavco Industries in a research report on Friday, June 5th. They set a “buy” rating and a $700.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th.

Cavco Industries Price Performance

Shares of Cavco Industries stock traded up $2.35 on Thursday, hitting $567.59. The company had a trading volume of 8,019 shares, compared to its average volume of 159,967. Cavco Industries has a 52 week low of $397.38 and a 52 week high of $713.01. The company has a market cap of $4.37 billion, a PE ratio of 23.73 and a beta of 1.28. The business has a 50-day simple moving average of $571.55 and a 200-day simple moving average of $552.52.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, May 21st. The construction company reported $5.42 earnings per share for the quarter, topping analysts’ consensus estimates of $5.30 by $0.12. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%.The firm had revenue of $550.13 million during the quarter, compared to the consensus estimate of $571.06 million. On average, equities research analysts predict that Cavco Industries will post 24.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction on 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. This represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Allison Aden sold 1,473 shares of Cavco Industries stock in a transaction dated 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 directly owned 9,147 shares in the company, valued at $5,716,875. This represents a 13.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,541 shares of company stock worth $2,121,932. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

A number of large investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust boosted its stake in Cavco Industries by 13.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 152 shares of the construction company’s stock worth $90,000 after purchasing an additional 18 shares during the period. Sheets Smith Wealth Management grew its holdings in shares of Cavco Industries by 0.9% during the first quarter. Sheets Smith Wealth Management now owns 2,250 shares of the construction company’s stock valued at $1,090,000 after buying an additional 20 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Cavco Industries by 12.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock valued at $86,000 after buying an additional 22 shares during the period. GAMMA Investing LLC lifted its stake in Cavco Industries by 8.6% in the 2nd quarter. GAMMA Investing LLC now owns 415 shares of the construction company’s stock worth $255,000 after acquiring an additional 33 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in Cavco Industries by 2.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,450 shares of the construction company’s stock worth $857,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 95.56% of the company’s stock.

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.