Cavco Industries (NASDAQ:CVCO) Now Covered by Analysts at Northland Securities

Equities researchers at Northland Securities assumed coverage on shares of Cavco Industries (NASDAQ:CVCO) in a research report issued on Wednesday, Marketbeat reports. The firm set an “outperform” rating and a $650.00 price target on the construction company’s stock. Northland Securities‘s price target would indicate a potential upside of 20.55% from the stock’s current price.

Several other equities research analysts also recently commented on CVCO. Oppenheimer began coverage on shares of Cavco Industries in a research note on Wednesday, September 30th. They issued an “outperform” rating and a $720.00 target price on the stock. Weiss Ratings raised Cavco Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, September 29th. Zacks Research upgraded shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 29th. Finally, Zelman & Associates cut Cavco Industries from an “outperform” rating to a “neutral” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $690.00.

Cavco Industries Trading Up 1.4%

Shares of Cavco Industries stock opened at $539.21 on Wednesday. The firm’s 50-day simple moving average is $550.34 and its 200-day simple moving average is $553.54. Cavco Industries has a twelve month low of $443.33 and a twelve month high of $713.01.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results 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 company had revenue of $609.96 million for the quarter, compared to analysts’ expectations of $590.54 million. On average, equities analysts forecast that Cavco Industries will post 22.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 342 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $592.00, for a total value of $202,464.00. Following the transaction, the chief accounting officer owned 736 shares of the company’s stock, valued at approximately $435,712. This represents a 31.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Cavco Industries during the second quarter worth about $767,112,000. Jupiter Topco LLC acquired a new position in shares of Cavco Industries in the 2nd quarter valued at approximately $42,954,000. Neumeier Poma Investment Counsel LLC acquired a new position in shares of Cavco Industries in the 2nd quarter valued at approximately $42,826,587. Punch & Associates Investment Management Inc. acquired a new position in shares of Cavco Industries in the 2nd quarter valued at approximately $33,133,000. Finally, Bank of New York Mellon Corp bought a new stake in Cavco Industries during the 2nd quarter worth approximately $28,096,000. Institutional investors own 95.56% of the company’s stock.

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.