Cavco Industries, Inc. (NASDAQ:CVCO) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) have been assigned an average rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $625.00.

Several research analysts have weighed in on CVCO shares. Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. Zacks Research upgraded Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, UBS Group started coverage on Cavco Industries in a research note on Friday, June 5th. They issued a “buy” rating and a $700.00 price target for the company.

Cavco Industries Trading Up 2.0%

Shares of NASDAQ:CVCO opened at $604.47 on Wednesday. The stock has a 50 day moving average of $520.87 and a 200 day moving average of $555.31. The company has a market cap of $4.64 billion, a PE ratio of 25.22 and a beta of 1.30. Cavco Industries has a 12-month low of $393.85 and a 12-month high of $713.01.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, May 21st. The construction company reported $5.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.30 by $0.12. The company had revenue of $550.13 million during the quarter, compared to the consensus estimate of $571.06 million. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%. Equities research analysts predict that Cavco Industries will post 25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cavco Industries news, EVP Allison Aden sold 1,208 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $600.00, for a total value of $724,800.00. Following the completion of the transaction, the executive vice president directly owned 10,647 shares in the company, valued at $6,388,200. This represents a 10.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction that occurred 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 $3,632,060.44. The trade was a 7.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,068 shares of company stock worth $1,201,307 in the last three months. 1.60% of the stock is owned by company insiders.

Institutional Trading of Cavco Industries

Several hedge funds have recently modified their holdings of CVCO. Royal Bank of Canada raised its holdings in shares of Cavco Industries by 5.2% during the 1st quarter. Royal Bank of Canada now owns 18,951 shares of the construction company’s stock worth $9,849,000 after acquiring an additional 934 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cavco Industries by 1.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,799 shares of the construction company’s stock worth $2,494,000 after acquiring an additional 90 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Cavco Industries during the 1st quarter worth approximately $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Cavco Industries by 15.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,876 shares of the construction company’s stock worth $9,289,000 after acquiring an additional 2,384 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Cavco Industries by 12.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock worth $86,000 after acquiring an additional 22 shares in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

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.