Cavco Industries, Inc. (CVCO) Given Consensus Rating of “Hold” by Brokerages
Cavco Industries, Inc. (NASDAQ:CVCO) has earned a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Brokers have set a 1-year consensus price objective of $114.00 for the company, according to Zacks. Zacks has also assigned Cavco Industries an industry rank of 120 out of 265 based on the ratings given to its competitors.
Separately, BidaskClub raised Cavco Industries from a “sell” rating to a “hold” rating in a report on Friday.
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Cavco Industries (NASDAQ:CVCO) traded up 1.99% during mid-day trading on Tuesday, hitting $140.80. The company had a trading volume of 15,964 shares. The company has a 50-day moving average price of $130.30 and a 200 day moving average price of $117.59. Cavco Industries has a 12 month low of $88.65 and a 12 month high of $141.25. The firm has a market capitalization of $1.27 billion, a P/E ratio of 33.76 and a beta of 1.53.
Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Monday, August 7th. The construction company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.20. The company had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $200.70 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. Equities analysts forecast that Cavco Industries will post $4.65 EPS for the current fiscal year.
In related news, Director William C. Boor sold 3,000 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.44% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Geneva Advisors LLC acquired a new position in Cavco Industries during the first quarter worth $579,000. Russell Investments Group Ltd. acquired a new position in Cavco Industries during the fourth quarter worth $335,000. Foundry Partners LLC boosted its position in Cavco Industries by 5.9% in the first quarter. Foundry Partners LLC now owns 32,979 shares of the construction company’s stock worth $3,839,000 after buying an additional 1,831 shares during the last quarter. Algert Global LLC boosted its position in Cavco Industries by 89.5% in the first quarter. Algert Global LLC now owns 7,616 shares of the construction company’s stock worth $887,000 after buying an additional 3,596 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Cavco Industries by 34.3% in the first quarter. Victory Capital Management Inc. now owns 1,288 shares of the construction company’s stock worth $150,000 after buying an additional 329 shares during the last quarter. 98.08% of the stock is owned by institutional investors.
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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