Zacks: Cavco Industries Inc. (CVCO) Receives Average Recommendation of “Hold” from Analysts
Cavco Industries Inc. (NASDAQ:CVCO) has earned an average broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.
Brokerages have set a 12 month consensus price target of $114.00 for the company, according to Zacks. Zacks has also given Cavco Industries an industry rank of 5 out of 265 based on the ratings given to related companies.
Separately, Sidoti started coverage on shares of Cavco Industries in a report on Wednesday, September 7th. They issued a “neutral” rating and a $114.00 price objective on the stock.
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In other Cavco Industries news, Director Steven G. Bunger sold 11,000 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $101.20, for a total value of $1,113,200.00. Following the sale, the director now owns 3,000 shares in the company, valued at $303,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 9.58% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Prudential Financial Inc. boosted its stake in Cavco Industries by 12.2% in the first quarter. Prudential Financial Inc. now owns 34,121 shares of the company’s stock worth $3,189,000 after buying an additional 3,700 shares during the last quarter. Swiss National Bank boosted its stake in Cavco Industries by 5.8% in the second quarter. Swiss National Bank now owns 14,500 shares of the company’s stock worth $1,359,000 after buying an additional 800 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Cavco Industries by 11.1% in the second quarter. PNC Financial Services Group Inc. now owns 54,876 shares of the company’s stock worth $5,142,000 after buying an additional 5,499 shares during the last quarter. GW&K Investment Management LLC boosted its stake in Cavco Industries by 109.2% in the second quarter. GW&K Investment Management LLC now owns 75,829 shares of the company’s stock worth $7,105,000 after buying an additional 39,580 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Cavco Industries by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 147,406 shares of the company’s stock worth $13,813,000 after buying an additional 3,497 shares during the last quarter. Hedge funds and other institutional investors own 95.69% of the company’s stock.
Shares of Cavco Industries (NASDAQ:CVCO) traded down 0.92% during midday trading on Tuesday, reaching $98.73. 9,815 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $100.54 and a 200-day moving average of $95.99. Cavco Industries has a one year low of $70.28 and a one year high of $110.67. The stock has a market cap of $885.71 million, a price-to-earnings ratio of 31.35 and a beta of 1.85.
Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.60 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.60. The business had revenue of $185.10 million for the quarter, compared to analysts’ expectations of $181.40 million. Cavco Industries had a net margin of 3.89% and a return on equity of 8.22%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, equities research analysts anticipate that Cavco Industries will post $3.55 earnings per share for the current year.
About Cavco Industries
Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.
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