Cavco Industries, Inc. (NASDAQ:CVCO) Stock Has Average Target Price of $710.00

Key Points

• Analyst sentiment is moderately positive: Six analysts give Cavco Industries a consensus “Moderate Buy” rating, with an average 12-month price target of $710.
• CVCO shares opened at $534.25, down 2.4%, while trading below their 50-day and 200-day moving averages. The stock’s 12-month range is $443.33 to $713.01.
• Cavco’s latest quarterly revenue of $609.96 million exceeded expectations, but earnings per share of $5.43 fell short of the $5.69 consensus estimate. Institutional investors own 95.56% of the company.

Shares of Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $710.00.

A number of equities analysts have recently commented on CVCO shares. Zacks Research raised Cavco Industries from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 29th. Weiss Ratings upgraded Cavco Industries from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, September 29th. Oppenheimer initiated coverage on Cavco Industries in a research note on Wednesday, September 30th. They set an "outperform" rating and a $720.00 price objective on the stock. Finally, Zelman & Associates lowered Cavco Industries from an "outperform" rating to a "neutral" rating in a research note on Thursday, August 6th.

Cavco Industries Trading Down 2.4%

Shares of CVCO stock opened at $534.25 on Friday. The stock has a market capitalization of $4.11 billion, a P/E ratio of 23.25 and a beta of 1.27. The firm's 50 day moving average is $552.25 and its 200 day moving average is $550.49. Cavco Industries has a 12 month low of $443.33 and a 12 month high of $713.01.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $5.43 earnings per share for the quarter, missing analysts' consensus estimates of $5.69 by ($0.26). Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. The business had revenue of $609.96 million during the quarter, compared to analysts' expectations of $590.54 million. On average, equities analysts predict that Cavco Industries will post 22.66 EPS for the current year.

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 342 shares of Cavco Industries stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $592.00, for a total transaction of $202,464.00. Following the completion of the transaction, the chief accounting officer owned 736 shares of the company's stock, valued at $435,712. The trade was a 31.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Cavco Industries

A number of large investors have recently modified their holdings of CVCO. Signaturefd LLC increased its holdings in Cavco Industries by 96.3% during the 3rd quarter. Signaturefd LLC now owns 53 shares of the construction company's stock worth $30,000 after acquiring an additional 26 shares during the period. Sowell Financial Services LLC purchased a new stake in Cavco Industries in the 3rd quarter worth approximately $218,000. Sterling Capital Management LLC lifted its stake in Cavco Industries by 825.0% in the 3rd quarter. Sterling Capital Management LLC now owns 259 shares of the construction company's stock worth $145,000 after purchasing an additional 231 shares in the last quarter. Root Financial Partners LLC bought a new position in Cavco Industries in the 3rd quarter valued at $28,000. Finally, Crossmark Global Holdings Inc. boosted its holdings in Cavco Industries by 26.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 474 shares of the construction company's stock valued at $266,000 after purchasing an additional 99 shares during the period. 95.56% of the stock is currently owned by institutional investors.

Cavco Industries Company Profile

Cavco Industries, Inc is a manufacturer of factory-built housing and related products. The company designs and produces manufactured homes, modular homes, park model recreational vehicles, and commercial structures for residential, hospitality, and other applications. Its homes are sold through independent retailers, company-owned retail locations, and a network of housing dealers.

Cavco markets its products under several brands, including Cavco, Fleetwood Homes, Palm Harbor Homes, Nationwide Homes, Solitaire Homes, and CountryPlace.

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