Richard Kerley Sells 500 Shares of Cavco Industries (NASDAQ:CVCO) Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director Richard Kerley sold 500 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total value of $294,380.00. Following the completion of the transaction, the director owned 6,169 shares of the company’s stock, valued at approximately $3,632,060.44. This trade represents a 7.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Cavco Industries Trading Down 1.0%

NASDAQ CVCO opened at $592.76 on Friday. Cavco Industries, Inc. has a 12 month low of $393.53 and a 12 month high of $713.01. The stock has a market cap of $4.55 billion, a P/E ratio of 24.73 and a beta of 1.30. The stock’s fifty day moving average price is $516.13 and its 200-day moving average price is $555.49.

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

Institutional Investors Weigh In On Cavco Industries

Several institutional investors have recently modified their holdings of CVCO. Aster Capital Management DIFC Ltd purchased a new stake in shares of Cavco Industries during the fourth quarter valued at $46,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Cavco Industries during the fourth quarter valued at $50,000. Los Angeles Capital Management LLC purchased a new stake in shares of Cavco Industries during the fourth quarter valued at $54,000. Osaic Holdings Inc. boosted its position in shares of Cavco Industries by 118.2% during 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 last quarter. Finally, Danske Bank A S purchased a new stake in shares of Cavco Industries during the third quarter valued at $58,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVCO has been the topic of a number of recent research reports. Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. Finally, UBS Group initiated coverage on Cavco Industries in a research note on Friday, June 5th. They issued a “buy” rating and a $700.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. Based on 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.