Cavco Industries Inc. (CVCO) Trading Down 1.9%
Shares of Cavco Industries Inc. (NASDAQ:CVCO) fell 1.9% on Monday . The company traded as low as $95.91 and last traded at $96.71, with a volume of 185,592 shares changing hands. The stock had previously closed at $98.55.
Separately, Sidoti began coverage on shares of Cavco Industries in a report on Wednesday, September 7th. They issued a “neutral” rating and a $114.00 price target on the stock.
The company has a market capitalization of $853.59 million, a P/E ratio of 30.22 and a beta of 1.75. The company has a 50 day moving average price of $101.48 and a 200-day moving average price of $94.55.
Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Tuesday, August 9th. The company reported $0.60 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.60. Cavco Industries had a net margin of 3.89% and a return on equity of 8.22%. The company had revenue of $185.10 million for the quarter, compared to analysts’ expectations of $181.40 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. Cavco Industries’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities analysts anticipate that Cavco Industries Inc. will post $3.65 earnings per share for the current fiscal year.
In other Cavco Industries news, Director Steven G. Bunger sold 11,000 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $101.20, for a total value of $1,113,200.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at $303,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.58% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CVCO. BlackRock Advisors LLC boosted its position in Cavco Industries by 0.9% in the second quarter. BlackRock Advisors LLC now owns 4,206 shares of the company’s stock worth $394,000 after buying an additional 39 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Cavco Industries by 14.3% in the second quarter. Teacher Retirement System of Texas now owns 1,125 shares of the company’s stock worth $105,000 after buying an additional 141 shares during the period. Anchor Capital Advisors LLC raised its stake in shares of Cavco Industries by 0.8% in the second quarter. Anchor Capital Advisors LLC now owns 20,922 shares of the company’s stock worth $1,960,000 after buying an additional 157 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Cavco Industries by 1.1% in the first quarter. TIAA CREF Investment Management LLC now owns 37,514 shares of the company’s stock worth $3,506,000 after buying an additional 393 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Cavco Industries by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 28,125 shares of the company’s stock worth $2,636,000 after buying an additional 468 shares during the period. 95.69% of the stock is currently owned by institutional investors.
Cavco Industries Company Profile
Cavco Industries, Inc (Cavco) is a producer of manufactured homes in the United States. The Company designs and produces factory-built homes primarily distributed through a network of independent and Company-owned retailers, planned community operators and residential developers. The Company is a builder of park model homes, vacation cabins, and systems-built commercial structures, as well as modular homes.
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