Brokerages Set Cavco Industries, Inc. (NASDAQ:CVCO) Price Target at $550.00

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) have received an average rating of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $550.00.

CVCO has been the topic of several research analyst reports. Zelman & Associates upgraded shares of Cavco Industries to an “outperform” rating in a report on Thursday, February 5th. Weiss Ratings lowered shares of Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Finally, Zacks Research upgraded shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd.

Cavco Industries Stock Up 3.6%

NASDAQ CVCO opened at $509.17 on Friday. Cavco Industries has a 52 week low of $393.53 and a 52 week high of $713.01. The business’s fifty day simple moving average is $495.18 and its 200-day simple moving average is $555.91. The firm has a market cap of $3.95 billion, a PE ratio of 21.24 and a beta of 1.31.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, topping the consensus estimate 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 17.64% and a net margin of 8.49%. Research analysts expect that Cavco Industries will post 25 EPS for the current year.

Insider Transactions at Cavco Industries

In related news, EVP Allison Aden sold 129 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $455.76, for a total value of $58,793.04. Following the sale, the executive vice president directly owned 8,806 shares in the company, valued at approximately $4,013,422.56. The trade was a 1.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Cavco Industries

Several institutional investors and hedge funds have recently bought and sold shares of CVCO. Aster Capital Management DIFC Ltd purchased a new stake in Cavco Industries during the fourth quarter worth about $46,000. Kemnay Advisory Services Inc. purchased a new stake in Cavco Industries during the fourth quarter worth about $50,000. Los Angeles Capital Management LLC purchased a new stake in Cavco Industries during the fourth quarter worth about $54,000. Osaic Holdings Inc. increased its stake in Cavco Industries by 118.2% during the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after purchasing an additional 65 shares during the period. Finally, Danske Bank A S purchased a new stake in Cavco Industries during the third quarter worth about $58,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

About Cavco Industries

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.