Key Points
- Insider sale: Cavco Industries insider Brian Cira sold 31 shares on May 22 at an average price of $509.17, totaling about $15,784. The filing says the sale was made to cover tax withholding tied to vesting equity awards.
- Quarterly results beat EPS estimates: Cavco reported adjusted quarterly EPS of $5.42, topping the consensus estimate of $5.30. Revenue came in at $550.13 million, below the expected $571.06 million.
- Mixed Wall Street sentiment: Analysts currently have an average rating of Moderate Buy with a $550 price target, though recent ratings have been mixed. Institutional ownership remains high at 95.56% of shares outstanding.
Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) insider Brian Cira sold 31 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $509.17, for a total transaction of $15,784.27. Following the transaction, the insider directly owned 4,290 shares in the company, valued at $2,184,339.30. The trade was a 0.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Cavco Industries Stock Performance
Shares of CVCO opened at $546.24 on Thursday. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 22.79 and a beta of 1.31. The company's 50 day simple moving average is $496.73 and its 200 day simple moving average is $555.49. Cavco Industries, Inc. has a 1 year low of $393.53 and a 1 year high of $713.01.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The construction company reported $5.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.30 by $0.12. The business had revenue of $550.13 million for the quarter, compared to the consensus estimate of $571.06 million. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. Equities analysts expect that Cavco Industries, Inc. will post 25 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts recently issued reports on CVCO shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Cavco Industries in a research note on Tuesday. Zelman & Associates raised shares of Cavco Industries to an "outperform" rating in a research note 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. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $550.00.
View Our Latest Analysis on CVCO
Institutional Investors Weigh In On Cavco Industries
Several large investors have recently made changes to their positions in the business. Segall Bryant & Hamill LLC grew its holdings in Cavco Industries by 29.2% during the 1st quarter. Segall Bryant & Hamill LLC now owns 36,573 shares of the construction company's stock valued at $17,712,000 after purchasing an additional 8,264 shares in the last quarter. Bank of America Corp DE grew its holdings in Cavco Industries by 7.1% during the 1st quarter. Bank of America Corp DE now owns 27,353 shares of the construction company's stock valued at $13,247,000 after purchasing an additional 1,824 shares in the last quarter. Amundi grew its holdings in Cavco Industries by 33.2% during the 1st quarter. Amundi now owns 1,609 shares of the construction company's stock worth $779,000 after acquiring an additional 401 shares in the last quarter. California State Teachers Retirement System grew its holdings in Cavco Industries by 24.1% during the 1st quarter. California State Teachers Retirement System now owns 9,319 shares of the construction company's stock worth $4,513,000 after acquiring an additional 1,808 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Cavco Industries by 73.7% during the 1st quarter. Empowered Funds LLC now owns 966 shares of the construction company's stock worth $468,000 after acquiring an additional 410 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company's stock.
Cavco Industries Company Profile
(
Get Free Report)
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.
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