Zacks: Cavco Industries, Inc. (CVCO) Receives Average Recommendation of “Strong Buy” from Analysts

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Zacks has also assigned Cavco Industries an industry rank of 2 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 report on Friday, December 22nd.

Cavco Industries (CVCO) opened at $164.20 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.66 and a current ratio of 2.25. The company has a market capitalization of $1,510.00, a P/E ratio of 36.49 and a beta of 1.60. Cavco Industries has a twelve month low of $93.65 and a twelve month high of $169.75.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Tuesday, November 7th. The construction company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.13). The business had revenue of $200.50 million for the quarter, compared to the consensus estimate of $190.87 million. Cavco Industries had a net margin of 5.09% and a return on equity of 10.30%. Cavco Industries’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.04 EPS.

In related news, Director Jack Hanna sold 2,464 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $147.96, for a total value of $364,573.44. Following the sale, the director now directly owns 2,281 shares of the company’s stock, valued at $337,496.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William C. Boor sold 3,000 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $143.62, for a total value of $430,860.00. Following the completion of the sale, the director now directly owns 6,397 shares in the company, valued at $918,737.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,464 shares of company stock worth $1,381,433. 8.44% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of CVCO. FMR LLC grew its stake in Cavco Industries by 26.1% in the second quarter. FMR LLC now owns 416,180 shares of the construction company’s stock worth $53,958,000 after purchasing an additional 86,212 shares during the period. Ashford Capital Management Inc. grew its stake in Cavco Industries by 95.8% in the second quarter. Ashford Capital Management Inc. now owns 100,400 shares of the construction company’s stock worth $13,017,000 after purchasing an additional 49,133 shares during the period. Royal Bank of Canada grew its stake in Cavco Industries by 32.2% in the second quarter. Royal Bank of Canada now owns 124,007 shares of the construction company’s stock worth $16,078,000 after purchasing an additional 30,200 shares during the period. RWC Asset Management LLP grew its stake in Cavco Industries by 22.4% in the third quarter. RWC Asset Management LLP now owns 128,836 shares of the construction company’s stock worth $19,010,000 after purchasing an additional 23,616 shares during the period. Finally, Pier Capital LLC purchased a new stake in Cavco Industries in the third quarter worth $2,960,000. 91.77% of the stock is currently owned by institutional investors.

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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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