Cavco Industries, Inc. (CVCO) Given Consensus Rating of “Hold” by Brokerages

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

Analysts have set a 12-month consensus price target of $114.00 for the company, according to Zacks. Zacks has also given Cavco Industries an industry rank of 7 out of 265 based on the ratings given to its competitors.

Separately, BidaskClub cut Cavco Industries from a “hold” rating to a “sell” rating in a report on Monday.

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Cavco Industries (NASDAQ CVCO) traded up 0.27% during mid-day trading on Thursday, reaching $130.15. The company had a trading volume of 33,008 shares. The company has a market capitalization of $1.17 billion, a PE ratio of 31.21 and a beta of 1.52. The firm has a 50-day moving average of $127.90 and a 200 day moving average of $116.11. Cavco Industries has a 1-year low of $88.65 and a 1-year high of $136.98.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Monday, June 12th. The construction company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.17. The business had revenue of $198 million during the quarter, compared to analysts’ expectations of $188 million. Cavco Industries had a return on equity of 10.07% and a net margin of 4.91%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. On average, analysts predict that Cavco Industries will post $4.65 earnings per share for the current fiscal year.

In other Cavco Industries news, Director William C. Boor sold 3,000 shares of the firm’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 transaction of $391,770.00. Following the completion of the transaction, the director now owns 6,397 shares in the company, valued at approximately $835,384.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.44% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue boosted its position in 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 valued at $108,000 after buying an additional 20 shares in the last quarter. Victory Capital Management Inc. boosted its position in Cavco Industries by 34.3% in the first quarter. Victory Capital Management Inc. now owns 1,288 shares of the construction company’s stock valued at $150,000 after buying an additional 329 shares in the last quarter. HighTower Advisors LLC bought a new stake in Cavco Industries during the first quarter valued at about $202,000. Mason Street Advisors LLC raised its stake in Cavco Industries by 7.0% in the first quarter. Mason Street Advisors LLC now owns 1,977 shares of the construction company’s stock valued at $230,000 after buying an additional 130 shares during the last quarter. Finally, Suntrust Banks Inc. bought a new stake in Cavco Industries during the first quarter valued at about $233,000. Institutional investors and hedge funds own 98.00% of the company’s stock.

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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