Cavco Industries (NASDAQ:CVCO) EVP Sells $371,270.00 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) EVP Seth Schuknecht sold 542 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $685.00, for a total value of $371,270.00. Following the completion of the sale, the executive vice president owned 1,323 shares in the company, valued at $906,255. This trade represents a 29.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Cavco Industries Trading Down 0.8%

Shares of CVCO stock opened at $638.55 on Friday. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.73 and a beta of 1.29. The stock has a 50-day moving average of $556.51 and a 200-day moving average of $551.25. Cavco Industries, Inc. has a 1-year low of $443.33 and a 1-year high of $713.01.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, October 29th. The construction company reported $7.17 EPS for the quarter, topping analysts’ consensus estimates of $5.52 by $1.65. The company had revenue of $656.38 million for the quarter, compared to analyst estimates of $613.12 million. Cavco Industries had a return on equity of 16.60% and a net margin of 7.68%. Sell-side analysts forecast that Cavco Industries, Inc. will post 24.62 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVCO. Zelman & Associates downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Cavco Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 29th. Northland Securities assumed coverage on shares of Cavco Industries in a research note on Wednesday, October 28th. They set an “outperform” rating and a $650.00 target price for the company. Finally, Oppenheimer restated an “outperform” rating and issued a $735.00 target price (up from $720.00) on shares of Cavco Industries in a report on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $695.00.

Institutional Investors Weigh In On Cavco Industries

Hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd increased its stake in Cavco Industries by 92.2% during the 3rd quarter. R Squared Ltd now owns 740 shares of the construction company’s stock valued at $415,000 after purchasing an additional 355 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Cavco Industries by 147.1% in the third quarter. Fifth Third Bancorp now owns 7,059 shares of the construction company’s stock valued at $3,955,000 after buying an additional 4,202 shares in the last quarter. Maryland State Retirement & Pension System lifted its stake in shares of Cavco Industries by 51.2% in the third quarter. Maryland State Retirement & Pension System now owns 1,707 shares of the construction company’s stock valued at $956,000 after buying an additional 578 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Cavco Industries by 6.2% in the third quarter. Illinois Municipal Retirement Fund now owns 4,148 shares of the construction company’s stock valued at $2,324,000 after buying an additional 242 shares in the last quarter. Finally, Keybank National Association OH grew its holdings in shares of Cavco Industries by 32.3% during the third quarter. Keybank National Association OH now owns 1,105 shares of the construction company’s stock valued at $619,000 after buying an additional 270 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors.

Cavco Industries Company Profile

Cavco Industries, Inc is a manufacturer of factory-built housing and related products. The company designs and produces manufactured homes, modular homes, park model recreational vehicles, and commercial structures for residential, hospitality, and other applications. Its homes are sold through independent retailers, company-owned retail locations, and a network of housing dealers.

Cavco markets its products under several brands, including Cavco, Fleetwood Homes, Palm Harbor Homes, Nationwide Homes, Solitaire Homes, and CountryPlace.