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

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) have been assigned a consensus rating of “Hold” from the five brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $550.00.

Several equities research analysts have weighed in on the stock. Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. CJS Securities raised Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. Zacks Research cut Cavco Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Finally, Weiss Ratings downgraded Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th.

Insider Activity at Cavco Industries

In other Cavco Industries news, CEO William C. Boor acquired 1,000 shares of Cavco Industries stock in a transaction on Wednesday, February 4th. The stock was purchased at an average price of $495.00 per share, for a total transaction of $495,000.00. Following the purchase, the chief executive officer directly owned 48,022 shares of the company’s stock, valued at $23,770,890. This trade represents a 2.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David A. Greenblatt bought 413 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were acquired at an average cost of $463.01 per share, with a total value of $191,223.13. Following the completion of the transaction, the director owned 15,989 shares in the company, valued at approximately $7,403,066.89. The trade was a 2.65% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 1,800 shares of company stock valued at $866,592 over the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of Cavco Industries by 5.2% during the first quarter. Royal Bank of Canada now owns 18,951 shares of the construction company’s stock worth $9,849,000 after purchasing an additional 934 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Cavco Industries by 1.9% in 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 buying an additional 90 shares in the last quarter. United Services Automobile Association bought a new position in shares of Cavco Industries in the 1st quarter worth $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 valued at $9,289,000 after buying an additional 2,384 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Cavco Industries by 1.1% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 3,773 shares of the construction company’s stock worth $1,639,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Performance

Shares of CVCO stock opened at $579.70 on Monday. Cavco Industries has a fifty-two week low of $393.53 and a fifty-two week high of $713.01. The stock’s fifty day moving average price is $601.95 and its two-hundred day moving average price is $572.42. The company has a market cap of $4.50 billion, a PE ratio of 25.18 and a beta of 1.28.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, January 29th. The construction company reported $5.58 earnings per share 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 firm had revenue of $580.99 million for the quarter, compared to analyst estimates of $593.37 million. On average, equities analysts predict that Cavco Industries will post 21.93 EPS for the current fiscal year.

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.