Cavco Industries, Inc. (NASDAQ:CVCO) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts rate Cavco Industries “Moderate Buy”: Of six firms covering the stock, three recommend holding, two recommend buying, and one gives a strong-buy rating. The average 12-month price target is $625, including UBS’s $700 target.
• Cavco shares recently traded at $567.59, with a market capitalization of approximately $4.37 billion. The stock has ranged from $397.38 to $713.01 over the past year.
• The company exceeded quarterly EPS expectations, reporting $5.42 versus the $5.30 consensus, although revenue of $550.13 million fell short of the $571.06 million estimate. Insiders sold $2.12 million worth of shares over the past 90 days.

Shares of Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) have been given a consensus rating of "Moderate Buy" by the six research firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $625.00.

CVCO has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of Cavco Industries from a "strong sell" rating to a "hold" rating in a research note on Friday, April 3rd. UBS Group initiated coverage on Cavco Industries in a research note on Friday, June 5th. They set a "buy" rating and a $700.00 price objective on the stock. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Cavco Industries in a research report on Tuesday, May 26th.

Cavco Industries Stock Up 0.4%

Shares of Cavco Industries stock traded up $2.35 on Thursday, hitting $567.59. 8,019 shares of the company's stock traded hands, compared to its average volume of 159,967. Cavco Industries has a 52-week low of $397.38 and a 52-week high of $713.01. The stock has a market cap of $4.37 billion, a P/E ratio of 23.73 and a beta of 1.28. The firm's 50-day moving average is $571.55 and its 200 day moving average is $552.52.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The construction company reported $5.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.30 by $0.12. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. The firm had revenue of $550.13 million for the quarter, compared to analysts' expectations of $571.06 million. Equities research analysts forecast that Cavco Industries will post 24.5 EPS for the current year.

Insider Buying and Selling at Cavco Industries

In related news, EVP Allison Aden sold 1,473 shares of the business's stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $625.00, for a total transaction of $920,625.00. Following the completion of the sale, the executive vice president owned 9,147 shares of the company's stock, valued at $5,716,875. This represents a 13.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard A. Kerley sold 500 shares of the firm's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total transaction of $294,380.00. Following the completion of the transaction, the director directly owned 6,169 shares in the company, valued at $3,632,060.44. This represents a 7.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,541 shares of company stock worth $2,121,932 over the last 90 days. Insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd bought a new stake in Cavco Industries in the fourth quarter valued at $46,000. Kemnay Advisory Services Inc. acquired a new position in Cavco Industries during the 4th quarter valued at about $50,000. Los Angeles Capital Management LLC acquired a new stake in shares of Cavco Industries in the fourth quarter valued at approximately $54,000. Danske Bank A S bought a new stake in shares of Cavco Industries during the third quarter valued at approximately $58,000. Finally, CIBC Private Wealth Group LLC boosted 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 worth $69,000 after buying an additional 50 shares during the period. 95.56% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.