Lisa Lynn Daniels Sells 30 Shares of Cavco Industries (NASDAQ:CVCO) Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director Lisa Lynn Daniels sold 30 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $569.96, for a total transaction of $17,098.80. Following the sale, the director directly owned 297 shares of the company’s stock, valued at approximately $169,278.12. The trade was a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cavco Industries Stock Performance

Shares of NASDAQ CVCO opened at $566.56 on Wednesday. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 24.65 and a beta of 1.29. Cavco Industries, Inc. has a fifty-two week low of $439.29 and a fifty-two week high of $713.01. The firm’s 50-day simple moving average is $575.21 and its 200 day simple moving average is $549.07.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $5.43 EPS for the quarter, missing analysts’ consensus estimates of $5.69 by ($0.26). The company had revenue of $609.96 million for the quarter, compared to the consensus estimate of $590.54 million. Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%. On average, sell-side analysts predict that Cavco Industries, Inc. will post 22.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CVCO. Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. UBS Group initiated coverage on shares of Cavco Industries in a report on Friday, June 5th. They set a “buy” rating and a $700.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Cavco Industries presently has an average rating of “Moderate Buy” and a consensus target price of $700.00.

Hedge Funds Weigh In On Cavco Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of Cavco Industries during the fourth quarter valued at approximately $46,000. Kemnay Advisory Services Inc. purchased a new position in Cavco Industries in the fourth quarter worth $50,000. Los Angeles Capital Management LLC bought a new position in Cavco Industries in the 4th quarter valued at $54,000. Osaic Holdings Inc. grew its stake in Cavco Industries by 118.2% in the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock valued at $57,000 after purchasing an additional 65 shares during the period. Finally, Danske Bank A S purchased a new stake in shares of Cavco Industries during the 3rd quarter valued at $58,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

About Cavco Industries

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.