Cavco Industries, Inc. (CVCO) Given $114.00 Average Price Target by Analysts

Cavco Industries, Inc. (NASDAQ:CVCO) has been given an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.

Brokers have set a 12-month consensus target price of $114.00 for the company, according to Zacks. Zacks has also given Cavco Industries an industry rank of 24 out of 265 based on the ratings given to its competitors.

In other news, CEO Joseph H. Stegmayer sold 25,000 shares of the stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $116.25, for a total transaction of $2,906,250.00. Following the transaction, the chief executive officer now owns 528,043 shares of the company’s stock, valued at approximately $61,384,998.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.58% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in shares of Cavco Industries by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 232,663 shares of the construction company’s stock worth $23,047,000 after buying an additional 2,329 shares in the last quarter. Cadence Capital Management LLC raised its position in shares of Cavco Industries by 2.5% in the fourth quarter. Cadence Capital Management LLC now owns 11,292 shares of the construction company’s stock worth $1,128,000 after buying an additional 275 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Cavco Industries by 950.3% in the third quarter. JPMorgan Chase & Co. now owns 21,058 shares of the construction company’s stock worth $2,086,000 after buying an additional 19,053 shares in the last quarter. Comerica Bank raised its position in shares of Cavco Industries by 5.7% in the fourth quarter. Comerica Bank now owns 9,068 shares of the construction company’s stock worth $887,000 after buying an additional 489 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of Cavco Industries by 0.3% in the third quarter. BlackRock Fund Advisors now owns 743,779 shares of the construction company’s stock worth $73,671,000 after buying an additional 2,366 shares in the last quarter. 94.64% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Cavco Industries (NASDAQ:CVCO) traded down 2.15% during mid-day trading on Thursday, hitting $118.10. The stock had a trading volume of 6,311 shares. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 31.48 and a beta of 1.58. The company has a 50-day moving average of $116.96 and a 200 day moving average of $105.57. Cavco Industries has a one year low of $85.56 and a one year high of $121.70.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Monday, February 6th. The construction company reported $1.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.38. The business had revenue of $202.31 million for the quarter, compared to analyst estimates of $186.95 million. Cavco Industries had a return on equity of 9.29% and a net margin of 4.52%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 EPS. On average, equities research analysts forecast that Cavco Industries will post $4.00 earnings per share for the current year.

About Cavco Industries

Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.

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