Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $547.26 and traded as low as $527.01. Cavco Industries shares last traded at $548.72, with a volume of 138,133 shares trading hands.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Zelman & Associates downgraded shares of Cavco Industries from an "outperform" rating to a "neutral" rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Cavco Industries from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, September 29th. Oppenheimer initiated coverage on shares of Cavco Industries in a research note on Wednesday, September 30th. They issued an "outperform" rating and a $720.00 price objective for the company. Finally, Zacks Research raised shares of Cavco Industries from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $710.00.
View Our Latest Report on Cavco Industries
Cavco Industries Trading Up 1.5%
The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 23.88 and a beta of 1.27. The company has a fifty day moving average of $564.75 and a two-hundred day moving average of $547.26.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly 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). Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. The company had revenue of $609.96 million for the quarter, compared to analyst estimates of $590.54 million. As a group, sell-side analysts predict that Cavco Industries, Inc. will post 22.66 earnings per share for the current fiscal year.
Insider Transactions at Cavco Industries
In related news, CAO Paul Bigbee sold 342 shares of Cavco Industries stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $592.00, for a total value of $202,464.00. Following the transaction, the chief accounting officer owned 736 shares in the company, valued at $435,712. This trade represents a 31.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.70% of the company's stock.
Hedge Funds Weigh In On Cavco Industries
Large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Cavco Industries in the 2nd quarter valued at approximately $767,112,000. Jupiter Topco LLC acquired a new stake in shares of Cavco Industries in the second quarter worth $42,954,000. Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Cavco Industries in the second quarter worth $42,826,587. Bessemer Group Inc. increased its position in Cavco Industries by 3.5% during the first quarter. Bessemer Group Inc. now owns 59,878 shares of the construction company's stock worth $28,998,000 after acquiring an additional 2,008 shares during the period. Finally, Punch & Associates Investment Management Inc. bought a new position in Cavco Industries during the second quarter worth $33,133,000. Institutional investors and hedge funds own 95.56% of the company's stock.
About Cavco Industries
(
Get Free Report)
Cavco Industries, Inc is a manufacturer of factory-built housing headquartered in Phoenix, Arizona. The company produces manufactured homes, modular homes, park model recreational vehicles, and related structures designed for residential and vacation use. Its homes are sold through independent retailers, company-owned retail locations, and housing developers.
Cavco markets products under several brands, including Cavco, Fleetwood Homes, Palm Harbor Homes, and Solitaire Homes. In addition to manufacturing, the company provides consumer financing through CountryPlace Mortgage and property and casualty insurance through Standard Casualty.
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