Cavco Industries (NASDAQ:CVCO) Director Sells $17,098.80 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director Lisa Lynn Daniels sold 30 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $569.96, for a total transaction of $17,098.80. Following the transaction, the director owned 297 shares in the company, valued at $169,278.12. This represents a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO opened at $586.96 on Thursday. Cavco Industries, Inc. has a 52-week low of $441.95 and a 52-week high of $713.01. The company has a market capitalization of $4.51 billion, a P/E ratio of 25.54 and a beta of 1.29. The company has a 50-day simple moving average of $576.02 and a 200 day simple moving average of $548.32.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share for the quarter, missing analysts’ consensus estimates of $5.69 by ($0.26). The business had revenue of $609.96 million for the quarter, compared to analyst estimates of $590.54 million. Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%. As a group, equities analysts forecast that Cavco Industries, Inc. will post 22.75 earnings per share for the current year.

Institutional Investors Weigh In On Cavco Industries

Several hedge funds have recently bought and sold shares of CVCO. Royal Bank of Canada grew its position in shares of Cavco Industries by 5.2% in the first quarter. Royal Bank of Canada now owns 18,951 shares of the construction company’s stock valued at $9,849,000 after purchasing an additional 934 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Cavco Industries by 1.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,799 shares of the construction company’s stock worth $2,494,000 after purchasing an additional 90 shares during the last quarter. United Services Automobile Association bought a new stake in Cavco Industries in the 1st quarter valued at $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Cavco Industries by 15.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,876 shares of the construction company’s stock valued at $9,289,000 after purchasing an additional 2,384 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Cavco Industries by 12.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock valued at $86,000 after buying an additional 22 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group initiated coverage on Cavco Industries in a report on Friday, June 5th. They set a “buy” rating and a $700.00 target price on the stock. Zacks Research downgraded Cavco Industries from a “hold” rating to a “strong sell” rating in a report on Monday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $700.00.

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.