Cavco Industries, Inc. (CVCO) Given Average Rating of “Strong Buy” by Analysts
Cavco Industries, Inc. (NASDAQ:CVCO) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating. Cavco Industries’ rating score has improved by 66.7% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Zacks has also assigned Cavco Industries an industry rank of 22 out of 265 based on the ratings given to its competitors.
A number of research analysts recently weighed in on the stock. BidaskClub upgraded shares of Cavco Industries from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Sidoti upgraded shares of Cavco Industries from a “neutral” rating to a “buy” rating in a report on Friday, August 25th.
In other Cavco Industries news, Director William C. Boor sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $130.59, for a total transaction of $391,770.00. Following the completion of the transaction, the director now owns 6,397 shares in the company, valued at approximately $835,384.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.44% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue grew its holdings in Cavco Industries by 2.2% during the 1st quarter. State of Alaska Department of Revenue now owns 930 shares of the construction company’s stock worth $108,000 after acquiring an additional 20 shares in the last quarter. Texas Permanent School Fund grew its holdings in Cavco Industries by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 6,172 shares of the construction company’s stock worth $800,000 after acquiring an additional 51 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Cavco Industries by 1.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,572 shares of the construction company’s stock worth $593,000 after acquiring an additional 59 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Cavco Industries by 1.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,669 shares of the construction company’s stock worth $864,000 after acquiring an additional 107 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Cavco Industries by 0.9% during the 1st quarter. Legal & General Group Plc now owns 14,009 shares of the construction company’s stock worth $1,631,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 92.49% of the company’s stock.
Cavco Industries (NASDAQ:CVCO) traded up 1.51% during trading on Friday, hitting $137.80. 117,280 shares of the stock were exchanged. The stock’s 50 day moving average price is $132.41 and its 200 day moving average price is $123.62. The stock has a market cap of $1.24 billion, a P/E ratio of 28.42 and a beta of 1.54. Cavco Industries has a 12 month low of $88.65 and a 12 month high of $143.10.
Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Monday, August 7th. The construction company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.20. The firm had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $200.70 million. Cavco Industries had a net margin of 5.56% and a return on equity of 11.40%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 earnings per share. Analysts forecast that Cavco Industries will post $4.91 EPS for the current fiscal year.
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Cavco Industries Company Profile
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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