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 covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $550.00.

Several analysts recently weighed in on CVCO shares. CJS Securities raised shares of Cavco Industries to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings cut shares of Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Zacks Research downgraded shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. Finally, Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a research report on Thursday, February 5th.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, CEO William C. Boor purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was bought at an average cost of $495.00 per share, with a total value of $495,000.00. Following the acquisition, the chief executive officer directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David A. Greenblatt acquired 87 shares of the stock in a transaction dated Wednesday, February 4th. The shares were acquired at an average cost of $500.00 per share, with a total value of $43,500.00. Following the completion of the transaction, the director owned 16,076 shares in the company, valued at approximately $8,038,000. This represents a 0.54% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 1,800 shares of company stock worth $866,592 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Cavco Industries

Several hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC purchased a new stake in shares of Cavco Industries during the 4th quarter worth approximately $898,000. Aristides Capital LLC grew its position in shares of Cavco Industries by 4.6% in the 4th quarter. Aristides Capital LLC now owns 902 shares of the construction company’s stock valued at $533,000 after buying an additional 40 shares during the last quarter. Virtu Financial LLC acquired a new stake in Cavco Industries during the 4th quarter worth $451,000. Vident Advisory LLC raised its stake in Cavco Industries by 11.9% during the 4th quarter. Vident Advisory LLC now owns 591 shares of the construction company’s stock worth $349,000 after acquiring an additional 63 shares in the last quarter. Finally, Pillsbury Lake Capital LLC purchased a new stake in Cavco Industries in the fourth quarter valued at $15,091,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Trading Down 0.0%

NASDAQ:CVCO traded down $0.08 during midday trading on Friday, reaching $472.56. The company had a trading volume of 50,481 shares, compared to its average volume of 203,593. Cavco Industries has a 12-month low of $393.53 and a 12-month high of $713.01. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 20.53 and a beta of 1.28. The stock’s fifty day simple moving average is $561.01 and its 200-day simple moving average is $569.86.

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