Cavco Industries (NASDAQ:CVCO) Research Coverage Started at Oppenheimer

Oppenheimer assumed coverage on shares of Cavco Industries (NASDAQ:CVCO) in a research note published on Wednesday morning, Marketbeat reports. The brokerage issued an outperform rating and a $720.00 price objective on the construction company’s stock.

Several other analysts have also commented on CVCO. Weiss Ratings lowered shares of Cavco Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, September 14th. Zacks Research downgraded shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Zelman & Associates downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 6th. 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 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $710.00.

Cavco Industries Price Performance

Shares of Cavco Industries stock opened at $585.13 on Wednesday. Cavco Industries has a 1 year low of $443.33 and a 1 year high of $713.01. The firm has a market cap of $4.50 billion, a PE ratio of 25.46 and a beta of 1.27. The stock has a fifty day moving average price of $565.90 and a 200-day moving average price of $544.77.

Cavco Industries (NASDAQ:CVCO) last released its earnings results 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 business 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%. As a group, equities analysts anticipate that Cavco Industries will post 22.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Cavco Industries news, CAO Paul Bigbee sold 342 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $592.00, for a total transaction of $202,464.00. Following the completion of the transaction, the chief accounting officer owned 736 shares in the company, valued at $435,712. This trade represents a 31.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cavco Industries

Several large investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Cavco Industries during the second quarter valued at about $767,112,000. Geode Capital Management LLC boosted its position in shares of Cavco Industries by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 232,847 shares of the construction company’s stock valued at $137,569,000 after acquiring an additional 1,018 shares during the period. Fiduciary Management Inc. WI boosted its position in shares of Cavco Industries by 14.3% in the fourth quarter. Fiduciary Management Inc. WI now owns 195,713 shares of the construction company’s stock valued at $115,615,000 after acquiring an additional 24,488 shares during the period. Jupiter Topco LLC purchased a new position in Cavco Industries during the second quarter valued at approximately $42,954,000. Finally, Neumeier Poma Investment Counsel LLC purchased a new position in Cavco Industries during the second quarter valued at approximately $42,826,587. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Company Profile

Cavco Industries, Inc is a manufacturer of factory-built housing headquartered in Phoenix, Arizona. The company produces manufactured homes, modular homes, park model recreational vehicles, and related structures designed for residential and vacation use. Its homes are sold through independent retailers, company-owned retail locations, and housing developers.

Cavco markets products under several brands, including Cavco, Fleetwood Homes, Palm Harbor Homes, and Solitaire Homes. In addition to manufacturing, the company provides consumer financing through CountryPlace Mortgage and property and casualty insurance through Standard Casualty.