Insider Buying: Cavco Industries (NASDAQ:CVCO) CEO Acquires 1,000 Shares of Stock

Cavco Industries, Inc. (NASDAQ:CVCO) CEO William Boor purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were acquired at an average price of $495.00 per share, for a total transaction of $495,000.00. Following the completion of the acquisition, the chief executive officer directly owned 48,022 shares of the company’s stock, valued at $23,770,890. This trade represents a 2.13% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cavco Industries Price Performance

Shares of Cavco Industries stock traded up $12.74 during trading hours on Thursday, hitting $518.20. 104,149 shares of the company’s stock traded hands, compared to its average volume of 238,673. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 22.51 and a beta of 1.32. Cavco Industries, Inc. has a 12-month low of $393.53 and a 12-month high of $713.01. The company has a fifty day simple moving average of $609.93 and a 200-day simple moving average of $553.61.

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

Analyst Ratings Changes

CVCO has been the subject of several recent research reports. Zacks Research lowered Cavco Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cavco Industries in a research note on Monday, December 29th. CJS Securities raised shares of Cavco Industries to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Zelman & Associates upgraded Cavco Industries to an “outperform” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Cavco Industries has a consensus rating of “Moderate Buy” and a consensus price target of $550.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CVCO. Salomon & Ludwin LLC bought a new position in Cavco Industries in the 3rd quarter worth $31,000. Farther Finance Advisors LLC raised its position in shares of Cavco Industries by 151.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock worth $38,000 after acquiring an additional 53 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of Cavco Industries by 118.2% in the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after acquiring an additional 65 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Cavco Industries by 1,814.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock valued at $58,000 after purchasing an additional 127 shares during the period. Finally, Danske Bank A S bought a new stake in shares of Cavco Industries during the third quarter valued at approximately $58,000. 95.56% of the stock is currently owned by institutional investors.

About Cavco Industries

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.