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

Cavco Industries, Inc. (NASDAQ:CVCO) has earned an average recommendation of “Hold” from the five ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $550.00.

Several brokerages recently commented on CVCO. Zacks Research cut Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. Weiss Ratings lowered shares of Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Finally, CJS Securities upgraded shares of Cavco Industries to a “strong-buy” rating in a research report on Thursday, December 11th.

Insider Activity at Cavco Industries

In related news, Director David A. Greenblatt bought 87 shares of the stock in a transaction dated Wednesday, February 4th. The shares were acquired at an average cost of $500.00 per share, for a total transaction of $43,500.00. Following the acquisition, the director directly owned 16,076 shares in the company, valued at approximately $8,038,000. This trade represents a 0.54% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William C. Boor purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was bought at an average price of $495.00 per share, with a total value of $495,000.00. Following the completion of the transaction, the chief executive officer directly owned 48,022 shares of the company’s stock, valued at approximately $23,770,890. This represents a 2.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 1,800 shares of company stock valued at $866,592. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Cavco Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVCO. Salomon & Ludwin LLC acquired a new stake in shares of Cavco Industries in the 3rd quarter worth $31,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Cavco Industries during the 4th quarter valued at about $46,000. Kemnay Advisory Services Inc. acquired a new position in shares of Cavco Industries during the 4th quarter valued at about $50,000. Los Angeles Capital Management LLC purchased a new stake in shares of Cavco Industries in the fourth quarter valued at about $54,000. Finally, Osaic Holdings Inc. grew its holdings in shares of Cavco Industries by 118.2% in the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock valued at $57,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cavco Industries Stock Performance

Shares of Cavco Industries stock opened at $466.14 on Friday. Cavco Industries has a twelve month low of $393.53 and a twelve month high of $713.01. The firm has a market capitalization of $3.62 billion, a PE ratio of 20.25 and a beta of 1.27. The firm’s 50-day moving average price is $556.38 and its 200 day moving average price is $569.70.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, January 29th. The construction company reported $5.58 EPS 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 return on equity of 17.84% and a net margin of 8.37%. On average, sell-side 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.