Insider Buying: Cavco Industries (NASDAQ:CVCO) CEO Buys 1,000 Shares of Stock

Cavco Industries, Inc. (NASDAQ:CVCO) CEO William Boor purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was acquired at an average price of $495.00 per share, with a total value of $495,000.00. Following the completion of the purchase, the chief executive officer owned 48,022 shares in the company, valued at $23,770,890. This represents a 2.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cavco Industries Price Performance

NASDAQ:CVCO traded up $12.74 during mid-day trading on Thursday, hitting $518.20. 104,149 shares of the company’s stock were exchanged, compared to its average volume of 238,673. The company has a market cap of $4.02 billion, a PE ratio of 22.51 and a beta of 1.32. Cavco Industries, Inc. has a one year low of $393.53 and a one year high of $713.01. The business has a fifty day moving average price of $609.93 and a 200 day moving average price of $553.61.

Cavco Industries (NASDAQ:CVCO) last released its earnings results 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 business had revenue of $580.99 million for the quarter, compared to analysts’ expectations of $593.37 million. On average, equities analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CVCO. Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a research report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Cavco Industries in a report on Monday, December 29th. CJS Securities raised Cavco Industries to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Zacks Research downgraded Cavco Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $550.00.

Institutional Investors Weigh In On Cavco Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC purchased a new stake in shares of Cavco Industries in the third quarter worth approximately $31,000. Farther Finance Advisors LLC increased its stake in Cavco Industries by 151.4% in the second quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock worth $38,000 after purchasing an additional 53 shares during the period. Osaic Holdings Inc. increased its stake in Cavco Industries by 118.2% in the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after purchasing an additional 65 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Cavco Industries by 1,814.3% during the second quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock worth $58,000 after purchasing an additional 127 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in shares of Cavco Industries during the third quarter valued at $58,000. Institutional investors own 95.56% of the company’s stock.

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.