Key Points
- Insider Brian Cira sold 2,382 Cavco shares at an average price of $666.91, for about $1.59 million. His direct holdings fell 55.52% to 1,908 shares.
- Cavco reported quarterly EPS of $7.17, beating the $5.52 consensus estimate, while revenue of $656.38 million also topped expectations.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $695; recent ratings include a $735 target from Oppenheimer.
Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) insider Brian Cira sold 2,382 shares of the firm's stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $666.91, for a total value of $1,588,579.62. Following the transaction, the insider directly owned 1,908 shares of the company's stock, valued at $1,272,464.28. This represents a 55.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Cavco Industries Trading Up 0.4%
NASDAQ:CVCO traded up $2.26 during mid-day trading on Friday, reaching $644.27. 73,856 shares of the stock were exchanged, compared to its average volume of 106,960. The business has a fifty day moving average price of $565.75 and a 200 day moving average price of $550.88. The firm has a market capitalization of $4.92 billion, a PE ratio of 27.30, a PEG ratio of 1.74 and a beta of 1.29. Cavco Industries, Inc. has a 1-year low of $443.33 and a 1-year high of $713.01.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The construction company reported $7.17 EPS for the quarter, topping the consensus estimate of $5.52 by $1.65. Cavco Industries had a net margin of 7.68% and a return on equity of 16.60%. The firm had revenue of $656.38 million for the quarter, compared to analysts' expectations of $613.12 million. On average, sell-side analysts forecast that Cavco Industries, Inc. will post 24.62 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. Northland Securities began coverage on shares of Cavco Industries in a research note on Wednesday, October 28th. They issued an "outperform" rating and a $650.00 price objective on the stock. Zelman & Associates downgraded shares of Cavco Industries from an "outperform" rating to a "neutral" rating in a report on Thursday, August 6th. Oppenheimer reissued an "outperform" rating and set a $735.00 target price (up from $720.00) on shares of Cavco Industries in a research note on Monday, November 2nd. Weiss Ratings upgraded shares of Cavco Industries from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, November 3rd. Finally, Zacks Research upgraded shares of Cavco Industries from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $695.00.
Check Out Our Latest Stock Analysis on CVCO
Institutional Investors Weigh In On Cavco Industries
A number of institutional investors and hedge funds have recently modified their holdings of CVCO. Entropy Technologies LP purchased a new stake in shares of Cavco Industries during the third quarter valued at $719,000. First National Bank of Omaha boosted its position in shares of Cavco Industries by 22.2% in the 3rd quarter. First National Bank of Omaha now owns 782 shares of the construction company's stock valued at $438,000 after purchasing an additional 142 shares during the period. Pillsbury Lake Capital LLC increased its stake in Cavco Industries by 6.2% in the 3rd quarter. Pillsbury Lake Capital LLC now owns 19,938 shares of the construction company's stock worth $11,170,000 after purchasing an additional 1,166 shares in the last quarter. Marshall Wace LLP increased its stake in Cavco Industries by 0.8% in the 3rd quarter. Marshall Wace LLP now owns 75,416 shares of the construction company's stock worth $42,253,000 after purchasing an additional 577 shares in the last quarter. Finally, Xcelsior Advisor Partners LLC purchased a new position in Cavco Industries in the 3rd quarter worth about $289,000. 95.56% of the stock is owned by institutional investors and hedge funds.
About Cavco Industries
(
Get Free Report)
Cavco Industries, Inc. designs and manufactures factory-built housing, including manufactured and modular homes, park model recreational vehicles, and related structures. Its homes are sold under a range of brand names and are designed for uses that include permanent residences, vacation homes, and workforce housing. Founded in 1965 and headquartered in Phoenix, Arizona, Cavco serves customers across the United States through a network of independent retailers, company-owned retail locations, and other housing channels.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
