Cavco Industries, Inc. (CVCO) Receives Average Rating of “Strong Buy” from Brokerages
Shares of Cavco Industries, Inc. (NASDAQ:CVCO) have received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating. Cavco Industries’ rating score has improved by 66.7% from three months ago as a result of a number of analysts’ ratings changes.
Zacks has also assigned Cavco Industries an industry rank of 1 out of 265 based on the ratings given to its competitors.
A number of brokerages have weighed in on CVCO. BidaskClub raised Cavco Industries from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Sidoti raised Cavco Industries from a “neutral” rating to a “buy” rating in a report on Friday, August 25th.
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Cavco Industries (NASDAQ CVCO) opened at 155.55 on Friday. The company has a market cap of $1.40 billion, a P/E ratio of 32.08 and a beta of 1.57. The company’s 50 day moving average price is $145.74 and its 200 day moving average price is $130.09. Cavco Industries has a 52-week low of $88.65 and a 52-week high of $156.40.
Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Monday, August 7th. The construction company reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.20. The business had revenue of $206.80 million for the quarter, compared to the consensus estimate of $200.70 million. Cavco Industries had a return on equity of 11.40% and a net margin of 5.56%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. Equities research analysts anticipate that Cavco Industries will post $4.48 EPS for the current fiscal year.
In other Cavco Industries news, Director David A. Greenblatt sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $136.68, for a total value of $410,040.00. Following the sale, the director now owns 10,175 shares of the company’s stock, valued at approximately $1,390,719. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 8.44% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Robotti Robert boosted its holdings in shares of Cavco Industries by 15.0% in the 2nd quarter. Robotti Robert now owns 172,723 shares of the construction company’s stock valued at $18,643,000 after purchasing an additional 22,563 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in shares of Cavco Industries in the 2nd quarter valued at $480,000. Texas Permanent School Fund boosted its holdings in shares of Cavco Industries by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 6,172 shares of the construction company’s stock valued at $800,000 after purchasing an additional 51 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Cavco Industries by 129.8% in the 2nd quarter. Prudential Financial Inc. now owns 39,684 shares of the construction company’s stock valued at $5,145,000 after purchasing an additional 22,413 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Cavco Industries by 34.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,288 shares of the construction company’s stock valued at $150,000 after purchasing an additional 329 shares in the last quarter. 92.66% of the stock is currently owned by hedge funds and other institutional investors.
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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