Cavco Industries (NASDAQ:CVCO) Director David Greenblatt Buys 87 Shares of Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director David Greenblatt purchased 87 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were acquired at an average price of $500.00 per share, with a total value of $43,500.00. Following the purchase, the director directly owned 16,076 shares in the company, valued at $8,038,000. This represents a 0.54% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cavco Industries Price Performance

Shares of NASDAQ CVCO traded up $14.55 during mid-day trading on Friday, reaching $537.51. 57,464 shares of the company’s stock traded hands, compared to its average volume of 240,640. The business has a 50-day simple moving average of $608.22 and a 200 day simple moving average of $553.40. The stock has a market cap of $4.17 billion, a P/E ratio of 23.19 and a beta of 1.32. Cavco Industries, Inc. has a 1-year low of $393.53 and a 1-year high of $713.01.

Cavco Industries (NASDAQ:CVCO) last posted its 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). The business had revenue of $580.99 million during the quarter, compared to analyst estimates of $593.37 million. Cavco Industries had a return on equity of 17.84% and a net margin of 8.37%. Equities research analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Institutional Trading of Cavco Industries

Several hedge funds and other institutional investors have recently modified their holdings of CVCO. Salomon & Ludwin LLC bought a new position in Cavco Industries in the 3rd quarter worth approximately $31,000. Farther Finance Advisors LLC lifted its position in shares of Cavco Industries by 151.4% during the second 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. lifted its position in shares of Cavco Industries by 118.2% during the second 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 boosted its holdings in shares of Cavco Industries by 1,814.3% in the second quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock worth $58,000 after acquiring an additional 127 shares during the period. Finally, Danske Bank A S purchased a new position in shares of Cavco Industries in the third quarter valued at $58,000. Institutional investors own 95.56% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.