Analysts Set Cavco Industries, Inc. (NASDAQ:CVCO) PT at $625.00

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) have earned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $625.00.

Several research analysts have recently weighed in on the company. Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. Finally, UBS Group initiated coverage on shares of Cavco Industries in a research note on Friday, June 5th. They set a “buy” rating and a $700.00 target price on the stock.

Cavco Industries Price Performance

Shares of Cavco Industries stock traded down $0.70 during midday trading on Friday, reaching $567.26. The company had a trading volume of 69,194 shares, compared to its average volume of 109,955. The stock has a fifty day moving average price of $547.80 and a 200 day moving average price of $555.83. Cavco Industries has a fifty-two week low of $397.38 and a fifty-two week high of $713.01. The firm has a market cap of $4.37 billion, a PE ratio of 23.67 and a beta of 1.28.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, May 21st. The construction company reported $5.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.30 by $0.12. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. The firm had revenue of $550.13 million during the quarter, compared to analyst estimates of $571.06 million. As a group, sell-side analysts forecast that Cavco Industries will post 24.5 EPS for the current year.

Insider Transactions at Cavco Industries

In related news, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total transaction of $294,380.00. Following the transaction, the director directly owned 6,169 shares of the company’s stock, valued at approximately $3,632,060.44. This represents a 7.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Paul Bigbee sold 200 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $537.75, for a total value of $107,550.00. Following the completion of the transaction, the chief accounting officer owned 1,105 shares in the company, valued at approximately $594,213.75. The trade was a 15.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,541 shares of company stock valued at $2,121,932 in the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Cavco Industries

Several hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust increased its holdings in Cavco Industries by 13.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 152 shares of the construction company’s stock worth $90,000 after acquiring an additional 18 shares during the period. Sheets Smith Wealth Management lifted its stake in Cavco Industries by 0.9% in the 1st quarter. Sheets Smith Wealth Management now owns 2,250 shares of the construction company’s stock worth $1,090,000 after purchasing an additional 20 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Cavco Industries by 12.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock valued at $86,000 after purchasing an additional 22 shares during the period. GAMMA Investing LLC boosted its holdings in Cavco Industries by 8.6% in the 2nd quarter. GAMMA Investing LLC now owns 415 shares of the construction company’s stock valued at $255,000 after purchasing an additional 33 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Cavco Industries by 2.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,450 shares of the construction company’s stock valued at $857,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

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.