Key Points
- CAO Paul Bigbee sold 342 Cavco Industries shares at an average price of $592, generating $202,464. His remaining stake fell to 736 shares, a 31.73% reduction in ownership.
- Cavco shares opened at $598.85, with a $4.61 billion market capitalization, while the stock traded between a 12-month low of $443.33 and high of $713.01.
- The company exceeded revenue expectations in its latest quarter but missed on earnings per share, reporting $5.43 versus the $5.69 consensus estimate. Analysts’ overall consensus rating is Hold, with an average price target of $700.
Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) CAO Paul Bigbee sold 342 shares of Cavco Industries stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $592.00, for a total transaction of $202,464.00. Following the completion of the transaction, the chief accounting officer owned 736 shares of the company's stock, valued at $435,712. This represents a 31.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Paul Bigbee also recently made the following trade(s):
- On Thursday, May 28th, Paul Bigbee sold 200 shares of Cavco Industries stock. The stock was sold at an average price of $537.75, for a total value of $107,550.00.
Cavco Industries Trading Up 2.4%
Shares of NASDAQ:CVCO opened at $598.85 on Thursday. The company has a 50 day moving average of $584.73 and a 200 day moving average of $543.32. The stock has a market cap of $4.61 billion, a P/E ratio of 26.06 and a beta of 1.29. Cavco Industries, Inc. has a 12 month low of $443.33 and a 12 month high of $713.01.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share for the quarter, missing the consensus estimate of $5.69 by ($0.26). Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. The business had revenue of $609.96 million during the quarter, compared to analysts' expectations of $590.54 million. On average, equities analysts forecast that Cavco Industries, Inc. will post 22.75 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Silvant Capital Management LLC purchased a new position in Cavco Industries during the 2nd quarter valued at about $25,000. Global Retirement Partners LLC purchased a new stake in Cavco Industries in the second quarter worth about $28,000. Allworth Financial LP purchased a new stake in Cavco Industries in the second quarter worth about $44,000. Aster Capital Management DIFC Ltd bought a new position in shares of Cavco Industries during the fourth quarter valued at approximately $46,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Cavco Industries during the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 95.56% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the company. UBS Group started coverage on Cavco Industries in a report on Friday, June 5th. They set a "buy" rating and a $700.00 target price for the company. Zelman & Associates downgraded Cavco Industries from an "outperform" rating to a "neutral" rating in a research report on Thursday, August 6th. Zacks Research lowered Cavco Industries from a "hold" rating to a "strong sell" rating in a research note on Monday, August 3rd. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Cavco Industries in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cavco Industries presently has a consensus rating of "Hold" and an average price target of $700.00.
Get Our Latest Report 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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