Cavco Industries (NASDAQ:CVCO) EVP Allison Aden Sells 1,208 Shares

Cavco Industries, Inc. (NASDAQ:CVCO) EVP Allison Aden sold 1,208 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $600.00, for a total value of $724,800.00. Following the completion of the sale, the executive vice president directly owned 10,647 shares in the company, valued at approximately $6,388,200. This represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Allison Aden also recently made the following trade(s):

• On Friday, May 15th, Allison Aden sold 129 shares of Cavco Industries stock. The shares were sold at an average price of $455.76, for a total value of $58,793.04.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO opened at $592.48 on Tuesday. The company has a market cap of $4.55 billion, a P/E ratio of 24.72 and a beta of 1.30. The stock’s 50-day moving average is $518.38 and its 200-day moving average is $555.34. Cavco Industries, Inc. has a 52-week low of $393.80 and a 52-week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, May 21st. The construction company reported $5.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.30 by $0.12. The company had revenue of $550.13 million for the quarter, compared to the consensus estimate of $571.06 million. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%. As a group, equities analysts predict that Cavco Industries, Inc. will post 25 EPS for the current year.

Institutional Investors Weigh In On Cavco Industries

Hedge funds have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd bought a new stake in shares of Cavco Industries in the fourth quarter valued at about $46,000. Kemnay Advisory Services Inc. bought a new stake in shares of Cavco Industries in the fourth quarter valued at about $50,000. Los Angeles Capital Management LLC bought a new stake in shares of Cavco Industries in the fourth quarter valued at about $54,000. Osaic Holdings Inc. lifted its stake in shares of Cavco Industries by 118.2% in the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock valued at $57,000 after buying an additional 65 shares during the period. Finally, Danske Bank A S bought a new stake in shares of Cavco Industries in the third quarter valued at about $58,000. Institutional investors own 95.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CVCO has been the topic of several research analyst reports. Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. Finally, UBS Group initiated coverage on shares of Cavco Industries in a research note on Friday, June 5th. They issued a “buy” rating and a $700.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $625.00.

Cavco Industries Company Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.