Cavco Industries, Inc. (NASDAQ:CVCO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) have earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $625.00.

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

Cavco Industries Trading Up 2.7%

NASDAQ CVCO opened at $578.31 on Wednesday. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 24.13 and a beta of 1.30. The company has a 50 day moving average of $509.72 and a 200-day moving average of $554.91. Cavco Industries has a 1-year low of $393.53 and a 1-year high of $713.01.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, May 21st. The construction company reported $5.42 earnings per share 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 company had revenue of $550.13 million during the quarter, compared to analyst estimates of $571.06 million. On average, analysts forecast that Cavco Industries will post 25 earnings per share for the current year.

Insider Buying and Selling

In other Cavco Industries news, EVP Allison Aden sold 129 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $455.76, for a total value of $58,793.04. Following the transaction, the executive vice president directly owned 8,806 shares of the company’s stock, valued at approximately $4,013,422.56. This trade represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Paul Bigbee sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $537.75, for a total transaction of $107,550.00. Following the completion of the transaction, the chief accounting officer directly owned 1,105 shares in the company, valued at approximately $594,213.75. The trade was a 15.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 360 shares of company stock worth $182,127. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Cavco Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust boosted its stake in Cavco Industries by 13.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 152 shares of the construction company’s stock valued at $90,000 after acquiring an additional 18 shares during the last quarter. Sheets Smith Wealth Management boosted its stake in Cavco Industries by 0.9% in the first quarter. Sheets Smith Wealth Management now owns 2,250 shares of the construction company’s stock valued at $1,090,000 after acquiring an additional 20 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Cavco Industries by 12.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock valued at $86,000 after acquiring an additional 22 shares during the last quarter. Guidance Capital Inc. boosted its stake in Cavco Industries by 3.3% in the third quarter. Guidance Capital Inc. now owns 1,122 shares of the construction company’s stock valued at $663,000 after acquiring an additional 36 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Cavco Industries by 27.4% in the third quarter. Smartleaf Asset Management LLC now owns 186 shares of the construction company’s stock valued at $109,000 after acquiring an additional 40 shares during the last quarter. 95.56% of the stock is owned by institutional investors.

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.