Cavco Industries (NASDAQ:CVCO) Director Richard Kerley Sells 459 Shares of Company Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director Richard Kerley sold 459 shares of Cavco Industries stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $676.87, for a total transaction of $310,683.33. Following the completion of the sale, the director owned 6,000 shares of the company’s stock, valued at approximately $4,061,220. The trade was a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Cavco Industries Trading Down 5.1%

Shares of CVCO stock opened at $643.97 on Friday. The stock has a market cap of $4.91 billion, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 1.84 and a beta of 1.29. Cavco Industries, Inc. has a 1 year low of $443.33 and a 1 year high of $713.01. The stock has a 50 day simple moving average of $555.15 and a 200 day simple moving average of $551.48.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, October 29th. The construction company reported $7.17 EPS for the quarter, topping analysts’ consensus estimates of $5.52 by $1.65. The firm had revenue of $656.38 million for the quarter, compared to analyst estimates of $613.12 million. Cavco Industries had a return on equity of 16.60% and a net margin of 7.68%. Analysts forecast that Cavco Industries, Inc. will post 24.62 EPS for the current year.

Analysts Set New Price Targets

CVCO has been the topic of a number of recent analyst reports. Northland Securities started coverage on Cavco Industries in a research report on Wednesday, October 28th. They issued an “outperform” rating and a $650.00 price target on the stock. Zelman & Associates cut 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 “buy (b-)” rating in a research report on Tuesday. Zacks Research upgraded shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 29th. Finally, Oppenheimer reiterated an “outperform” rating and set a $735.00 price objective (up from $720.00) on shares of Cavco Industries in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $695.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Silvant Capital Management LLC acquired a new position in Cavco Industries during the second quarter valued at approximately $25,000. Global Retirement Partners LLC bought a new stake in Cavco Industries during the second quarter worth $28,000. Root Financial Partners LLC acquired a new stake in shares of Cavco Industries in the 3rd quarter valued at $28,000. Signaturefd LLC boosted its holdings in shares of Cavco Industries by 96.3% in the 3rd quarter. Signaturefd LLC now owns 53 shares of the construction company’s stock valued at $30,000 after purchasing an additional 26 shares in the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of Cavco Industries by 2,850.0% in the 2nd quarter. IFP Advisors Inc now owns 59 shares of the construction company’s stock valued at $36,000 after purchasing an additional 57 shares in the last quarter. 95.56% of the stock is owned by institutional investors.

Cavco Industries Company Profile

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.