Credit Suisse AG Buys 625 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Credit Suisse AG raised its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 6.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 9,950 shares of the construction company’s stock after acquiring an additional 625 shares during the period. Credit Suisse AG owned approximately 0.11% of Cavco Industries worth $3,162,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hunter Perkins Capital Management LLC bought a new position in Cavco Industries during the 1st quarter valued at about $376,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Cavco Industries by 17.6% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,867 shares of the construction company’s stock valued at $2,006,000 after purchasing an additional 1,330 shares during the last quarter. Boston Partners increased its position in shares of Cavco Industries by 8.4% during the 1st quarter. Boston Partners now owns 4,380 shares of the construction company’s stock valued at $1,392,000 after purchasing an additional 341 shares during the last quarter. First Trust Advisors LP increased its position in shares of Cavco Industries by 2.6% during the 4th quarter. First Trust Advisors LP now owns 13,574 shares of the construction company’s stock valued at $3,071,000 after purchasing an additional 340 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. purchased a new stake in shares of Cavco Industries during the 1st quarter valued at about $220,000. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Price Performance

CVCO stock opened at $284.37 on Friday. Cavco Industries, Inc. has a 1-year low of $193.91 and a 1-year high of $318.00. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 11.11 and a beta of 1.24. The business has a 50 day simple moving average of $285.53 and a two-hundred day simple moving average of $286.94.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, August 3rd. The construction company reported $5.29 EPS for the quarter, missing analysts’ consensus estimates of $6.76 by ($1.47). The firm had revenue of $475.88 million for the quarter, compared to the consensus estimate of $552.90 million. Cavco Industries had a net margin of 11.20% and a return on equity of 23.41%. Sell-side analysts anticipate that Cavco Industries, Inc. will post 20.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on CVCO. Wedbush upped their price target on shares of Cavco Industries from $410.00 to $425.00 in a research report on Monday, May 22nd. StockNews.com started coverage on Cavco Industries in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Craig Hallum dropped their price target on Cavco Industries from $357.00 to $338.00 in a research note on Monday, May 22nd.

Cavco Industries Profile

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.