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

Cavco Industries, Inc. (NASDAQ:CVCO) has been given an average recommendation of “Moderate Buy” by the five analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $550.00.

CVCO has been the subject of a number of research reports. CJS Securities upgraded Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings restated a “buy (b)” rating on shares of Cavco Industries in a research report on Monday, December 29th. Zacks Research downgraded Cavco Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, Zelman & Associates raised Cavco Industries to an “outperform” rating in a research report on Thursday.

Cavco Industries Stock Up 4.0%

CVCO stock traded up $20.45 during trading on Thursday, hitting $525.91. 62,395 shares of the company’s stock traded hands, compared to its average volume of 235,458. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 22.63 and a beta of 1.32. Cavco Industries has a 52 week low of $393.53 and a 52 week high of $713.01. The stock has a fifty day moving average price of $609.93 and a two-hundred day moving average price of $553.61.

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

Insider Activity

In other Cavco Industries news, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $568.99, for a total value of $284,495.00. Following the completion of the transaction, the director owned 6,669 shares in the company, valued at approximately $3,794,594.31. This represents a 6.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Greenblatt purchased 87 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was purchased at an average price of $500.00 per share, for a total transaction of $43,500.00. Following the purchase, the director directly owned 16,076 shares of the company’s stock, valued at $8,038,000. This trade represents a 0.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 1,800 shares of company stock worth $866,592 in the last 90 days. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Cavco Industries

Several large investors have recently added to or reduced their stakes in the business. Boston Partners grew its stake in shares of Cavco Industries by 5,371.3% in the 2nd quarter. Boston Partners now owns 201,947 shares of the construction company’s stock worth $87,847,000 after purchasing an additional 198,256 shares during the last quarter. Schroder Investment Management Group grew its position in Cavco Industries by 76.9% in the second quarter. Schroder Investment Management Group now owns 130,106 shares of the construction company’s stock worth $56,522,000 after buying an additional 56,578 shares during the last quarter. Voya Investment Management LLC grew its position in Cavco Industries by 737.9% in the third quarter. Voya Investment Management LLC now owns 45,348 shares of the construction company’s stock worth $26,335,000 after buying an additional 39,936 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Cavco Industries by 630.1% in the third quarter. Schonfeld Strategic Advisors LLC now owns 38,717 shares of the construction company’s stock valued at $22,484,000 after buying an additional 33,414 shares in the last quarter. Finally, Jump Financial LLC lifted its position in shares of Cavco Industries by 3,047.3% during the 2nd quarter. Jump Financial LLC now owns 23,070 shares of the construction company’s stock valued at $10,022,000 after acquiring an additional 22,337 shares during the last quarter. 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.