Cavco Industries’ (CVCO) “Outperform” Rating Reiterated at Oppenheimer

Oppenheimer reissued their outperform rating on shares of Cavco Industries (NASDAQ:CVCO) in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a $735.00 price target on the construction company’s stock, up from their previous price target of $720.00.

A number of other equities analysts have also recently issued reports on CVCO. Northland Securities started coverage on shares of Cavco Industries in a research report on Wednesday, October 28th. They set an “outperform” rating and a $650.00 target price for the company. Zelman & Associates lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 6th. Weiss Ratings raised shares of Cavco Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 29th. Finally, Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $695.00.

Cavco Industries Stock Up 4.8%

Shares of CVCO stock opened at $679.07 on Monday. The stock has a market cap of $5.18 billion, a P/E ratio of 28.77, a P/E/G ratio of 1.76 and a beta of 1.29. Cavco Industries has a fifty-two week low of $443.33 and a fifty-two week high of $713.01. The business has a fifty day simple moving average of $553.82 and a 200-day simple moving average of $551.75.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, October 29th. The construction company reported $7.17 EPS for the quarter, topping the consensus estimate of $5.52 by $1.65. The business had revenue of $656.38 million for the quarter, compared to analyst estimates of $613.12 million. Cavco Industries had a net margin of 7.68% and a return on equity of 16.60%. On average, sell-side analysts anticipate that Cavco Industries will post 24.62 earnings per share for the current year.

Insider Activity at Cavco Industries

In related news, CAO Paul Bigbee sold 342 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $592.00, for a total transaction of $202,464.00. Following the sale, the chief accounting officer owned 736 shares of the company’s stock, valued at $435,712. This trade represents a 31.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Keybank National Association OH grew its holdings in Cavco Industries by 32.3% in the 3rd quarter. Keybank National Association OH now owns 1,105 shares of the construction company’s stock valued at $619,000 after buying an additional 270 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Cavco Industries by 4.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,860 shares of the construction company’s stock valued at $5,691,000 after acquiring an additional 459 shares during the last quarter. Hohimer Wealth Management LLC lifted its holdings in shares of Cavco Industries by 5.8% during the 3rd quarter. Hohimer Wealth Management LLC now owns 457 shares of the construction company’s stock worth $256,000 after acquiring an additional 25 shares during the period. Brighton Jones LLC purchased a new position in shares of Cavco Industries during the 3rd quarter worth about $203,000. Finally, Conestoga Capital Advisors LLC purchased a new position in shares of Cavco Industries during the 3rd quarter worth about $20,141,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

More Cavco Industries News

Here are the key news stories impacting Cavco Industries this week:

• Positive Sentiment: Northland Securities raised its FY2027 EPS forecast to $24.17 from $22.49 and increased its FY2028 estimate to $28.28 from $27.71, signaling improved expectations for future earnings. It reiterated an Outperform rating. Cavco Industries analyst estimates
• Positive Sentiment: Craig-Hallum raised its price target to $750 from $640, a substantial increase that may reinforce investor optimism. Craig-Hallum raises Cavco price target
• Positive Sentiment: A Zacks article noted CVCO’s 15.86% gain over the preceding week, highlighting strong recent momentum that may attract momentum-focused investors. Cavco’s recent momentum
• Neutral Sentiment: Oppenheimer reaffirmed its Outperform rating, adding support but not representing a new rating change. Oppenheimer reaffirms Cavco Outperform rating
• Neutral Sentiment: Northland maintained a $650 price objective, below the $679.07 share price cited in the provided market data; that gap may temper the otherwise upbeat analyst signals. Cavco analyst coverage

About Cavco Industries

Cavco Industries, Inc is a manufacturer of factory-built housing and related products. The company designs and produces manufactured homes, modular homes, park model recreational vehicles, and commercial structures for residential, hospitality, and other applications. Its homes are sold through independent retailers, company-owned retail locations, and a network of housing dealers.

Cavco markets its products under several brands, including Cavco, Fleetwood Homes, Palm Harbor Homes, Nationwide Homes, Solitaire Homes, and CountryPlace.