Lisa Lynn Daniels Sells 30 Shares of Cavco Industries (NASDAQ:CVCO) Stock

Key Points

• Director Lisa Lynn Daniels sold 30 Cavco Industries shares at an average price of $569.96, totaling $17,098.80 and reducing her ownership by 9.17% to 297 shares.
• Cavco’s latest quarterly results were mixed: EPS of $5.43 missed estimates of $5.69, while revenue of $609.96 million exceeded the $590.54 million consensus.
• The stock traded at $545.64, below analysts’ consensus price target of $625.00; analysts maintain a “Moderate Buy” consensus, and institutional investors own 95.56% of shares.

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) Director Lisa Lynn Daniels sold 30 shares of Cavco Industries stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $569.96, for a total transaction of $17,098.80. Following the sale, the director owned 297 shares of the company's stock, valued at approximately $169,278.12. This trade represents a 9.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cavco Industries Price Performance

Cavco Industries stock traded down $1.39 during midday trading on Monday, hitting $545.64. 206,488 shares of the company were exchanged, compared to its average volume of 108,178. The company has a market cap of $4.21 billion, a PE ratio of 23.74 and a beta of 1.29. The company's fifty day moving average price is $574.46 and its 200-day moving average price is $549.94. Cavco Industries, Inc. has a fifty-two week low of $422.26 and a fifty-two week high of $713.01.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.69 by ($0.26). The company had revenue of $609.96 million during 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, analysts expect that Cavco Industries, Inc. will post 24.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Cavco Industries

Institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd bought a new position in Cavco Industries in the fourth quarter worth about $46,000. Kemnay Advisory Services Inc. bought a new position in shares of Cavco Industries during the fourth quarter valued at approximately $50,000. Los Angeles Capital Management LLC acquired a new stake in shares of Cavco Industries during the 4th quarter worth approximately $54,000. Osaic Holdings Inc. lifted its holdings in shares of Cavco Industries by 118.2% in the 2nd 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 last quarter. Finally, Danske Bank A S bought a new stake in shares of Cavco Industries in the 3rd quarter worth approximately $58,000. Institutional investors own 95.56% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on CVCO shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cavco Industries in a report on Tuesday, May 26th. UBS Group started coverage on Cavco Industries in a report on Friday, June 5th. They issued a "buy" rating and a $700.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Cavco Industries has a consensus rating of "Moderate Buy" and a consensus target price of $625.00.

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.

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