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

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) have been given a consensus rating of “Moderate Buy” by the five ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $700.00.

A number of brokerages have weighed in on CVCO. Zacks Research cut shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a report on Monday. UBS Group assumed coverage on shares of Cavco Industries in a report on Friday, June 5th. They issued a “buy” rating and a $700.00 price target for the company. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th.

Cavco Industries Trading Up 3.6%

CVCO stock opened at $586.96 on Thursday. The firm has a market cap of $4.51 billion, a P/E ratio of 25.54 and a beta of 1.29. Cavco Industries has a 12-month low of $441.95 and a 12-month high of $713.01. The stock’s 50 day simple moving average is $576.02 and its 200 day simple moving average is $548.32.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.69 by ($0.26). The firm had revenue of $609.96 million for the quarter, compared to the consensus estimate of $590.54 million. Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%. On average, research analysts forecast that Cavco Industries will post 22.75 EPS for the current fiscal year.

Insider Activity at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 200 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $537.75, for a total transaction of $107,550.00. Following the completion of the transaction, the chief accounting officer directly owned 1,105 shares of the company’s stock, valued at $594,213.75. The trade was a 15.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Allison Aden sold 1,473 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $625.00, for a total transaction of $920,625.00. Following the completion of the sale, the executive vice president owned 9,147 shares in the company, valued at $5,716,875. The trade was a 13.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,571 shares of company stock worth $2,139,031 in the last ninety days. 1.70% of the stock is owned by insiders.

Institutional Trading of Cavco Industries

Several large investors have recently added to or reduced their stakes in CVCO. UBS Group AG boosted its holdings in shares of Cavco Industries by 31.5% in the fourth quarter. UBS Group AG now owns 40,017 shares of the construction company’s stock valued at $23,640,000 after acquiring an additional 9,589 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Cavco Industries by 599.0% during the first quarter. Fifth Third Bancorp now owns 2,824 shares of the construction company’s stock valued at $1,367,000 after acquiring an additional 2,420 shares during the period. M&T Bank Corp bought a new stake in Cavco Industries during the fourth quarter worth approximately $9,501,000. Intech Investment Management LLC raised its holdings in Cavco Industries by 58.0% during the fourth quarter. Intech Investment Management LLC now owns 5,766 shares of the construction company’s stock worth $3,406,000 after purchasing an additional 2,116 shares in the last quarter. Finally, Pier Capital LLC lifted its position in Cavco Industries by 90.8% in the fourth quarter. Pier Capital LLC now owns 12,103 shares of the construction company’s stock worth $7,150,000 after purchasing an additional 5,761 shares during the period. 95.56% of the stock is currently 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.