Cavco Industries (NASDAQ:CVCO) Director Sells 30 Shares of Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director Lisa Lynn Daniels sold 30 shares of Cavco Industries stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $569.96, for a total value of $17,098.80. Following the sale, the director directly owned 297 shares in the company, valued at $169,278.12. The trade was a 9.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cavco Industries Price Performance

Shares of CVCO traded down $1.39 during trading hours on Monday, reaching $545.64. 206,488 shares of the company’s stock traded hands, compared to its average volume of 108,178. Cavco Industries, Inc. has a twelve month low of $422.26 and a twelve month high of $713.01. The business’s fifty day simple moving average is $574.46 and its two-hundred day simple moving average is $549.94. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 23.74 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, July 30th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.69 by ($0.26). The company had revenue of $609.96 million for the quarter, compared to analyst estimates of $590.54 million. Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. On average, equities research analysts expect that Cavco Industries, Inc. will post 24.5 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust lifted its position in shares of Cavco Industries by 13.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 152 shares of the construction company’s stock valued at $90,000 after acquiring an additional 18 shares during the last quarter. Sheets Smith Wealth Management grew its holdings in shares of Cavco Industries by 0.9% in the 1st quarter. Sheets Smith Wealth Management now owns 2,250 shares of the construction company’s stock worth $1,090,000 after acquiring an additional 20 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cavco Industries by 12.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock worth $86,000 after acquiring an additional 22 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Cavco Industries by 8.6% during the second quarter. GAMMA Investing LLC now owns 415 shares of the construction company’s stock worth $255,000 after purchasing an additional 33 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Cavco Industries by 2.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,450 shares of the construction company’s stock worth $857,000 after purchasing an additional 40 shares during the period. Institutional investors own 95.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CVCO. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. UBS Group initiated coverage on shares of Cavco Industries in a report on Friday, June 5th. They issued a “buy” rating and a $700.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $625.00.

Cavco Industries Company Profile

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.