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

Cavco Industries, Inc. (NASDAQ:CVCO) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Zacks has also given Cavco Industries an industry rank of 39 out of 265 based on the ratings given to its competitors.

Separately, BidaskClub downgraded Cavco Industries from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th.

In related news, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $146.50, for a total transaction of $586,000.00. Following the sale, the director now directly owns 4,000 shares of the company’s stock, valued at $586,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jack Hanna sold 2,464 shares of Cavco Industries stock in a transaction dated 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 in the company, valued at $337,496.76. 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 currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its position in Cavco Industries by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 6,669 shares of the construction company’s stock worth $864,000 after buying an additional 107 shares in the last quarter. Suntrust Banks Inc. grew its position in Cavco Industries by 11.2% during the second quarter. Suntrust Banks Inc. now owns 2,236 shares of the construction company’s stock worth $288,000 after buying an additional 225 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Cavco Industries by 0.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 35,704 shares of the construction company’s stock worth $4,630,000 after buying an additional 318 shares in the last quarter. Thrivent Financial For Lutherans grew its position in Cavco Industries by 7.4% during the second quarter. Thrivent Financial For Lutherans now owns 5,100 shares of the construction company’s stock worth $661,000 after buying an additional 350 shares in the last quarter. Finally, Anchor Capital Advisors LLC grew its position in Cavco Industries by 1.8% during the third quarter. Anchor Capital Advisors LLC now owns 19,545 shares of the construction company’s stock worth $2,884,000 after buying an additional 351 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cavco Industries (NASDAQ:CVCO) opened at $159.70 on Friday. The stock has a market capitalization of $1,339.24, a PE ratio of 29.20 and a beta of 1.55. Cavco Industries has a 1 year low of $107.05 and a 1 year high of $170.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.25 and a quick ratio of 1.66.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Tuesday, February 6th. The construction company reported $2.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $1.09. The company had revenue of $221.40 million for the quarter, compared to the consensus estimate of $213.87 million. Cavco Industries had a return on equity of 11.05% and a net margin of 6.08%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $1.35 earnings per share.

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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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