Key Points
- Director Richard Kerley sold 459 Cavco shares at an average price of $676.87, totaling about $310,683. He retained 6,000 shares after the sale, a 7.11% reduction in his direct holdings.
- Cavco reported quarterly EPS of $7.17, beating the $5.52 analyst consensus, and revenue of $656.38 million versus expectations of $613.12 million.
- Analysts’ average rating is “Moderate Buy”, with an average price target of $695; the stock was reported down 5.1%.
Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) Director Richard Kerley sold 459 shares of the firm's stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $676.87, for a total value of $310,683.33. Following the completion of the sale, the director directly owned 6,000 shares in the company, valued at $4,061,220. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Cavco Industries Stock Down 5.1%
Cavco Industries stock opened at $643.97 on Friday. Cavco Industries, Inc. has a 12-month low of $443.33 and a 12-month high of $713.01. The business's 50-day moving average price is $555.15 and its two-hundred day moving average price is $551.48. The stock has a market cap of $4.91 billion, a PE ratio of 27.29, a P/E/G ratio of 1.84 and a beta of 1.29.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its earnings results on Thursday, October 29th. The construction company reported $7.17 EPS for the quarter, topping analysts' consensus estimates of $5.52 by $1.65. The firm had revenue of $656.38 million during the quarter, compared to analysts' expectations of $613.12 million. Cavco Industries had a net margin of 7.68% and a return on equity of 16.60%. As a group, analysts expect that Cavco Industries, Inc. will post 24.62 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research firms have commented on CVCO. Weiss Ratings upgraded Cavco Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday. Oppenheimer reiterated an "outperform" rating and issued a $735.00 price target (up from $720.00) on shares of Cavco Industries in a research report on Monday. Northland Securities assumed coverage on Cavco Industries in a report on Wednesday, October 28th. They issued an "outperform" rating and a $650.00 target price on the stock. Zelman & Associates downgraded shares of Cavco Industries from an "outperform" rating to a "neutral" rating in a research report on Thursday, August 6th. Finally, Zacks Research raised shares of Cavco Industries from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $695.00.
Get Our Latest Stock Analysis on CVCO
Institutional Trading of Cavco Industries
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Cavco Industries in the 2nd quarter valued at about $767,112,000. Jupiter Topco LLC bought a new position in shares of Cavco Industries during the 2nd quarter valued at approximately $42,954,000. Neumeier Poma Investment Counsel LLC purchased a new stake in shares of Cavco Industries during the 2nd quarter worth approximately $42,826,587. Punch & Associates Investment Management Inc. purchased a new stake in shares of Cavco Industries during the 2nd quarter worth approximately $33,133,000. Finally, Bessemer Group Inc. increased its stake in shares of Cavco Industries by 3.5% during the 1st quarter. Bessemer Group Inc. now owns 59,878 shares of the construction company's stock worth $28,998,000 after purchasing an additional 2,008 shares during the last quarter. Institutional investors own 95.56% of the company's stock.
About Cavco Industries
(
Get Free Report)
Cavco Industries, Inc is a manufacturer of factory-built housing and related products. The company designs and produces manufactured homes, modular homes, park model recreational vehicles, and commercial structures for residential, hospitality, and other applications. Its homes are sold through independent retailers, company-owned retail locations, and a network of housing dealers.
Cavco markets its products under several brands, including Cavco, Fleetwood Homes, Palm Harbor Homes, Nationwide Homes, Solitaire Homes, and CountryPlace.
Further Reading
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