BidaskClub upgraded shares of Cavco Industries, Inc. (NASDAQ:CVCO) from a sell rating to a hold rating in a report issued on Friday morning.
Cavco Industries (NASDAQ:CVCO) traded up 1.14% during mid-day trading on Friday, reaching $138.05. 37,784 shares of the company were exchanged. The stock has a 50-day moving average of $130.30 and a 200 day moving average of $117.59. Cavco Industries has a 1-year low of $88.65 and a 1-year high of $139.15. The firm has a market capitalization of $1.24 billion, a P/E ratio of 33.11 and a beta of 1.53.
Cavco Industries (NASDAQ:CVCO) last released its earnings results on Monday, June 12th. The construction company reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.17. Cavco Industries had a net margin of 4.91% and a return on equity of 10.07%. The firm had revenue of $198 million for the quarter, compared to analyst estimates of $188 million. During the same period in the prior year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities research analysts forecast that Cavco Industries will post $4.65 earnings per share for the current year.
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In related news, Director William C. Boor sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $130.59, for a total value of $391,770.00. Following the completion of the transaction, the director now directly owns 6,397 shares of the company’s stock, valued at $835,384.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.44% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue increased its position in shares of Cavco Industries by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 930 shares of the construction company’s stock worth $108,000 after buying an additional 20 shares during the period. Victory Capital Management Inc. increased its position in shares of Cavco Industries by 34.3% in the first quarter. Victory Capital Management Inc. now owns 1,288 shares of the construction company’s stock worth $150,000 after buying an additional 329 shares during the period. HighTower Advisors LLC acquired a new position in shares of Cavco Industries during the first quarter worth about $202,000. Mason Street Advisors LLC increased its position in shares of Cavco Industries by 7.0% in the first quarter. Mason Street Advisors LLC now owns 1,977 shares of the construction company’s stock worth $230,000 after buying an additional 130 shares during the period. Finally, Suntrust Banks Inc. acquired a new position in shares of Cavco Industries during the first quarter worth about $233,000. 98.08% of the stock is owned by hedge funds and other institutional investors.
Cavco Industries Company Profile
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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