Brokerages Set Cavco Industries, Inc. (NASDAQ:CVCO) Target Price at $550.00

Cavco Industries, Inc. (NASDAQ:CVCO) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $550.00.

Several research firms have recently weighed in on CVCO. Zelman & Associates raised Cavco Industries to an “outperform” rating in a report on Thursday, February 5th. CJS Securities upgraded shares of Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Cavco Industries in a research report on Monday, December 29th. Finally, Zacks Research cut shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a report on Monday.

Insider Buying and Selling at Cavco Industries

In other news, CEO William C. Boor bought 1,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were acquired at an average price of $495.00 per share, with a total value of $495,000.00. Following the completion of the acquisition, the chief executive officer directly owned 48,022 shares in the company, valued at approximately $23,770,890. The trade was a 2.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven W. Moster purchased 300 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were purchased at an average cost of $456.23 per share, with a total value of $136,869.00. Following the completion of the acquisition, the director directly owned 2,976 shares of the company’s stock, valued at $1,357,740.48. This represents a 11.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 1,800 shares of company stock worth $866,592. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Cavco Industries

Several hedge funds have recently modified their holdings of CVCO. Salomon & Ludwin LLC purchased a new stake in shares of Cavco Industries during the 3rd quarter worth $31,000. Farther Finance Advisors LLC boosted its holdings in Cavco Industries by 151.4% during the second quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock worth $38,000 after buying an additional 53 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Cavco Industries during the fourth quarter worth about $54,000. Osaic Holdings Inc. grew its position in Cavco Industries by 118.2% during the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after buying an additional 65 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in Cavco Industries by 1,814.3% in the second quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock valued at $58,000 after buying an additional 127 shares in the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Cavco Industries Price Performance

NASDAQ CVCO opened at $569.09 on Thursday. The firm’s fifty day moving average price is $605.77 and its 200 day moving average price is $558.24. Cavco Industries has a 12 month low of $393.53 and a 12 month high of $713.01. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 24.72 and a beta of 1.32.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, January 29th. The construction company reported $5.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.00 by ($0.42). Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. The company had revenue of $580.99 million during the quarter, compared to analyst estimates of $593.37 million. As a group, sell-side analysts forecast that Cavco Industries will post 21.93 earnings per share for the current year.

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.