Key Points
- Insider sale: Cavco Industries CAO Paul Bigbee sold 200 shares on May 28 at an average price of $537.75, totaling $107,550. After the transaction, he still owned 1,105 shares.
- Stock and earnings snapshot: CVCO was trading around $534.89, down 0.3% on the day, and recently beat quarterly EPS estimates with $5.42 per share versus the expected $5.30. Revenue came in below forecasts at $550.13 million.
- Analyst and institutional interest: The stock currently carries a consensus Moderate Buy rating with a $550 average price target, while hedge funds and other institutional investors own 95.56% of the shares.
Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) CAO Paul Bigbee sold 200 shares of Cavco Industries stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $537.75, for a total value of $107,550.00. Following the sale, the chief accounting officer owned 1,105 shares in the company, valued at $594,213.75. This trade represents a 15.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
Cavco Industries Trading Down 0.3%
Shares of Cavco Industries stock opened at $534.89 on Tuesday. The business's fifty day simple moving average is $499.76 and its 200 day simple moving average is $554.67. The firm has a market capitalization of $4.11 billion, a P/E ratio of 22.31 and a beta of 1.31. Cavco Industries, Inc. has a 12 month low of $393.53 and a 12 month high of $713.01.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, topping analysts' consensus estimates of $5.30 by $0.12. The business had revenue of $550.13 million for the quarter, compared to analyst estimates of $571.06 million. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%. Analysts predict that Cavco Industries, Inc. will post 25 EPS for the current fiscal year.
Hedge Funds Weigh In On Cavco Industries
Several hedge funds have recently made changes to their positions in CVCO. Northwestern Mutual Wealth Management Co. grew its position in shares of Cavco Industries by 852,093.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company's stock valued at $1,062,226,000 after purchasing an additional 1,797,917 shares in the last quarter. Boston Partners grew its position in Cavco Industries by 82.8% during the third quarter. Boston Partners now owns 369,177 shares of the construction company's stock worth $213,866,000 after buying an additional 167,230 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Cavco Industries by 53.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 213,572 shares of the construction company's stock worth $126,166,000 after buying an additional 74,542 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Cavco Industries by 122.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 74,155 shares of the construction company's stock worth $43,806,000 after buying an additional 40,832 shares in the last quarter. Finally, Bamco Inc. NY purchased a new position in Cavco Industries during the fourth quarter worth about $21,903,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
CVCO has been the topic of a number of recent analyst reports. Zacks Research upgraded Cavco Industries from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. Zelman & Associates upgraded Cavco Industries to an "outperform" rating in a report on Thursday, February 5th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Cavco Industries in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Cavco Industries presently has a consensus rating of "Moderate Buy" and an average price target of $550.00.
Check Out Our Latest Stock Analysis on CVCO
About Cavco Industries
(
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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