Cavco Industries (NASDAQ:CVCO) Director Acquires $191,223.13 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director David Greenblatt purchased 413 shares of the stock in a transaction on Tuesday, February 3rd. The shares were purchased at an average price of $463.01 per share, with a total value of $191,223.13. Following the acquisition, the director owned 15,989 shares in the company, valued at approximately $7,403,066.89. The trade was a 2.65% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cavco Industries Stock Performance

Shares of Cavco Industries stock traded up $12.74 on Thursday, reaching $518.20. 104,149 shares of the company’s stock were exchanged, compared to its average volume of 238,673. The company has a market capitalization of $4.02 billion, a P/E ratio of 22.51 and a beta of 1.32. Cavco Industries, Inc. has a 52 week low of $393.53 and a 52 week high of $713.01. The firm’s 50-day moving average is $609.93 and its two-hundred day moving average is $553.61.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, January 29th. The construction company reported $5.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.00 by ($0.42). The company had revenue of $580.99 million for the quarter, compared to analyst estimates of $593.37 million. Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. On average, analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Cavco Industries

A number of large investors have recently made changes to their positions in CVCO. Salomon & Ludwin LLC purchased a new stake in Cavco Industries in the third quarter worth $31,000. Farther Finance Advisors LLC grew its position in shares of Cavco Industries by 151.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock worth $38,000 after buying an additional 53 shares during the period. Danske Bank A S purchased a new stake in shares of Cavco Industries in the 3rd quarter worth about $58,000. Mather Group LLC. bought a new position in shares of Cavco Industries in the 3rd quarter worth about $63,000. Finally, CIBC Private Wealth Group LLC lifted its position in Cavco Industries by 72.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company’s stock valued at $69,000 after acquiring an additional 50 shares during the period. 95.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CVCO. Zacks Research downgraded Cavco Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. CJS Securities raised shares of Cavco Industries to a “strong-buy” rating in a research report on Thursday, December 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cavco Industries in a research note on Monday, December 29th. Finally, Zelman & Associates upgraded Cavco Industries to an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $550.00.

Cavco Industries Company Profile

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.