Cavco Industries, Inc. (NASDAQ:CVCO) Receives $550.00 Average Target Price from Brokerages

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) have received an average rating of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $550.00.

A number of research analysts recently weighed in on the stock. Weiss Ratings lowered shares of Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Zelman & Associates upgraded shares of Cavco Industries to an “outperform” rating in a research report on Thursday, February 5th. Finally, Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd.

Insider Activity at Cavco Industries

In related news, Director David A. Greenblatt purchased 413 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was bought at an average price of $463.01 per share, for a total transaction 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 position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William C. Boor acquired 1,000 shares of Cavco Industries stock in a transaction on Wednesday, February 4th. The shares were bought at an average cost of $495.00 per share, for a total transaction of $495,000.00. Following the completion of the purchase, the chief executive officer directly owned 48,022 shares of the company’s stock, valued at $23,770,890. The trade was a 2.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 1,800 shares of company stock valued at $866,592. Insiders own 1.60% of the company’s stock.

Institutional Trading of Cavco Industries

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC purchased a new position in Cavco Industries during the third quarter worth $31,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Cavco Industries in the 4th quarter worth about $46,000. Kemnay Advisory Services Inc. bought a new stake in shares of Cavco Industries in the 4th quarter worth about $50,000. Los Angeles Capital Management LLC purchased a new position in shares of Cavco Industries during the 4th quarter worth about $54,000. Finally, Osaic Holdings Inc. boosted its stake in shares of Cavco Industries by 118.2% during the 2nd 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. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Trading Up 0.4%

NASDAQ:CVCO opened at $534.91 on Tuesday. The business’s 50-day moving average is $524.27 and its 200 day moving average is $561.84. Cavco Industries has a 12 month low of $393.53 and a 12 month high of $713.01. The company has a market capitalization of $4.15 billion, a P/E ratio of 23.24 and a beta of 1.33.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results 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). The firm had revenue of $580.99 million for the quarter, compared to analysts’ expectations of $593.37 million. Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. On average, research analysts forecast that Cavco Industries will post 23.86 earnings per share for the current year.

About Cavco Industries

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.