Key Points
- Director Lisa Lynn Daniels sold 30 Cavco Industries shares at an average price of $569.96, generating $17,098.80 and reducing her direct holdings by 9.17% to 297 shares.
- Cavco reported quarterly EPS of $5.43, below the $5.69 analyst consensus, while revenue of $609.96 million exceeded estimates of $590.54 million.
- Analysts maintain a consensus “Moderate Buy” rating with an average $700 price target, while institutional investors own 95.56% of the company’s stock.
Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) Director Lisa Lynn Daniels sold 30 shares of the company's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $569.96, for a total transaction of $17,098.80. Following the sale, the director directly owned 297 shares in the company, valued at approximately $169,278.12. The trade was a 9.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Cavco Industries Stock Down 0.3%
CVCO stock opened at $545.64 on Tuesday. Cavco Industries, Inc. has a 52 week low of $422.26 and a 52 week high of $713.01. The firm has a market capitalization of $4.21 billion, a P/E ratio of 23.74 and a beta of 1.29. The company has a fifty day simple moving average of $574.46 and a two-hundred day simple moving average of $549.94.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share for the quarter, missing analysts' consensus estimates of $5.69 by ($0.26). Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%.The business had revenue of $609.96 million during the quarter, compared to the consensus estimate of $590.54 million. As a group, analysts anticipate that Cavco Industries, Inc. will post 24.5 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. UBS Group began coverage on Cavco Industries in a research report on Friday, June 5th. They set a "buy" rating and a $700.00 price objective on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of Cavco Industries in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $700.00.
Get Our Latest Stock Analysis on CVCO
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its position in Cavco Industries by 852,093.4% during the 4th 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 shares of Cavco Industries by 82.8% during the 3rd 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 shares of Cavco Industries by 53.6% during the 4th 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. increased its stake in shares of Cavco Industries by 122.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 74,155 shares of the construction company's stock valued at $43,806,000 after buying an additional 40,832 shares during the period. Finally, Bamco Inc. NY purchased a new position in shares of Cavco Industries during the fourth quarter valued at $21,903,000. Hedge funds and other institutional investors own 95.56% of the company's stock.
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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