Cavco Industries, Inc. (CVCO) Receives Average Recommendation of “Hold” from Analysts
Shares of Cavco Industries, Inc. (NASDAQ:CVCO) have been given a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.
Brokers have set a twelve-month consensus price target of $114.00 for the company, according to Zacks. Zacks has also assigned Cavco Industries an industry rank of 7 out of 265 based on the ratings given to its competitors.
Separately, BidaskClub upgraded Cavco Industries from a “sell” rating to a “hold” rating in a research note on Friday, June 16th.
Shares of Cavco Industries (NASDAQ CVCO) traded down 0.57% during midday trading on Thursday, reaching $130.80. 10,764 shares of the company’s stock were exchanged. Cavco Industries has a 12-month low of $88.65 and a 12-month high of $136.98. The stock’s 50 day moving average is $126.46 and its 200-day moving average is $115.44. The stock has a market cap of $1.18 billion, a PE ratio of 31.37 and a beta of 1.53.
Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Monday, June 12th. The construction company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.17. The firm had revenue of $198 million for the quarter, compared to analyst estimates of $188 million. Cavco Industries had a return on equity of 10.07% and a net margin of 4.91%. Cavco Industries’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 earnings per share. On average, equities analysts expect that Cavco Industries will post $4.65 EPS for the current year.
In other Cavco Industries news, Director William C. Boor sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $130.59, for a total value of $391,770.00. Following the completion of the transaction, the director now owns 6,397 shares of the company’s stock, valued at approximately $835,384.23. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.44% of the company’s stock.
Several institutional investors have recently modified their holdings of CVCO. Great West Life Assurance Co. Can boosted its position in shares of Cavco Industries by 2.8% in the first quarter. Great West Life Assurance Co. Can now owns 12,116 shares of the construction company’s stock worth $1,410,000 after buying an additional 327 shares during the last quarter. Geneva Advisors LLC acquired a new stake in Cavco Industries during the first quarter worth approximately $579,000. Essex Investment Management Co. LLC raised its stake in Cavco Industries by 22.4% in the first quarter. Essex Investment Management Co. LLC now owns 15,573 shares of the construction company’s stock worth $1,813,000 after buying an additional 2,854 shares during the period. Russell Investments Group Ltd. raised its stake in Cavco Industries by 79.7% in the first quarter. Russell Investments Group Ltd. now owns 5,995 shares of the construction company’s stock worth $697,000 after buying an additional 2,658 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in Cavco Industries by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 930 shares of the construction company’s stock worth $108,000 after buying an additional 20 shares during the period. 97.71% of the stock is owned by institutional investors and hedge funds.
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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