Cavco Industries (NASDAQ:CVCO) Director Richard Kerley Sells 500 Shares

Cavco Industries, Inc. (NASDAQ:CVCO) Director Richard Kerley sold 500 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $588.76, for a total value of $294,380.00. Following the completion of the transaction, the director owned 6,169 shares of the company’s stock, valued at $3,632,060.44. This trade represents a 7.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cavco Industries Price Performance

Shares of NASDAQ CVCO traded up $34.44 during mid-day trading on Thursday, reaching $598.95. 102,479 shares of the company’s stock were exchanged, compared to its average volume of 175,190. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 24.99 and a beta of 1.30. Cavco Industries, Inc. has a 52 week low of $393.53 and a 52 week high of $713.01. The firm has a 50-day moving average price of $511.69 and a two-hundred day moving average price of $555.05.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, May 21st. The construction company reported $5.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.30 by $0.12. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. The business had revenue of $550.13 million during the quarter, compared to the consensus estimate of $571.06 million. As a group, sell-side analysts forecast that Cavco Industries, Inc. will post 25 EPS for the current fiscal year.

Institutional Investors Weigh In On Cavco Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of CVCO. Aster Capital Management DIFC Ltd bought a new stake in shares of Cavco Industries during the fourth quarter valued at about $46,000. Kemnay Advisory Services Inc. bought a new stake in shares of Cavco Industries during the fourth quarter valued at about $50,000. Los Angeles Capital Management LLC bought a new stake in shares of Cavco Industries during the fourth quarter valued at about $54,000. Danske Bank A S bought a new stake in shares of Cavco Industries during the third quarter valued at about $58,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of Cavco Industries by 72.5% during the third quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company’s stock valued at $69,000 after buying an additional 50 shares during the period. Institutional investors own 95.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a report on Tuesday, May 26th. UBS Group assumed coverage on Cavco Industries in a research note on Friday, June 5th. They issued a “buy” rating and a $700.00 price objective on the stock. Finally, Zacks Research upgraded Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Cavco Industries presently has an average rating of “Moderate Buy” and an average price target 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.