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

Cavco Industries, Inc. (NASDAQ:CVCO) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $625.00.

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. UBS Group assumed coverage on shares of Cavco Industries in a research report on Friday, June 5th. They set a “buy” rating and a $700.00 price objective for the company. Finally, Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd.

Cavco Industries Stock Performance

Shares of CVCO opened at $578.31 on Wednesday. The company has a 50-day simple moving average of $509.72 and a 200-day simple moving average of $554.91. The firm has a market capitalization of $4.44 billion, a P/E ratio of 24.13 and a beta of 1.30. Cavco Industries has a 52 week low of $393.53 and a 52 week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, beating analysts’ consensus estimates of $5.30 by $0.12. The business had revenue of $550.13 million during the quarter, compared to analyst estimates of $571.06 million. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. As a group, equities analysts forecast that Cavco Industries will post 25 earnings per share for the current year.

Insider Activity

In related news, CAO Paul Bigbee sold 200 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $537.75, for a total value of $107,550.00. Following the completion of the transaction, the chief accounting officer owned 1,105 shares of the company’s stock, valued at $594,213.75. This represents a 15.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Allison Aden sold 129 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $455.76, for a total transaction of $58,793.04. Following the completion of the transaction, the executive vice president directly owned 8,806 shares of the company’s stock, valued at $4,013,422.56. This trade represents a 1.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 360 shares of company stock valued at $182,127 in the last three months. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd acquired a new position in Cavco Industries in the fourth quarter worth about $46,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Cavco Industries during the fourth quarter worth approximately $50,000. Los Angeles Capital Management LLC acquired a new stake in shares of Cavco Industries during the fourth quarter worth approximately $54,000. Osaic Holdings Inc. increased its holdings 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 buying an additional 65 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in shares of Cavco Industries during the third quarter worth approximately $58,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

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.