Shares of Cavco Industries Inc. (NASDAQ:CVCO) have received an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.
Analysts 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 its competitors.
Separately, Sidoti assumed coverage on Cavco Industries in a research report on Wednesday, September 7th. They issued a “neutral” rating and a $114.00 target price on the stock.
In other Cavco Industries news, Director Steven G. Bunger sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $101.20, for a total value of $1,113,200.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $303,600. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.58% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Algert Global LLC raised its position in shares of Cavco Industries by 36.5% in the third quarter. Algert Global LLC now owns 10,824 shares of the company’s stock worth $1,072,000 after buying an additional 2,895 shares during the last quarter. Cupps Capital Management LLC raised its position in shares of Cavco Industries by 6.6% in the third quarter. Cupps Capital Management LLC now owns 16,476 shares of the company’s stock worth $1,631,000 after buying an additional 1,021 shares during the last quarter. Mason Street Advisors LLC acquired a new position in shares of Cavco Industries during the second quarter worth about $152,000. Royal Bank of Canada raised its position in shares of Cavco Industries by 1.9% in the second quarter. Royal Bank of Canada now owns 97,905 shares of the company’s stock worth $9,174,000 after buying an additional 1,804 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Cavco Industries by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 28,125 shares of the company’s stock worth $2,636,000 after buying an additional 468 shares during the last quarter. 95.69% of the stock is currently owned by institutional investors.
Shares of Cavco Industries (NASDAQ:CVCO) opened at 98.43 on Tuesday. Cavco Industries has a one year low of $70.28 and a one year high of $110.67. The company has a 50-day moving average of $100.19 and a 200 day moving average of $96.06. The firm has a market cap of $883.02 million, a PE ratio of 31.26 and a beta of 1.85.
Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.60 EPS for the quarter, hitting the consensus estimate of $0.60. The firm had revenue of $185.10 million for the quarter, compared to analyst estimates of $181.40 million. Cavco Industries had a return on equity of 8.22% and a net margin of 3.89%. Cavco Industries’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. On average, equities research analysts expect that Cavco Industries will post $3.55 EPS for the current fiscal year.
Cavco Industries Company Profile
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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