Cavco Industries (NASDAQ:CVCO) Now Covered by Oppenheimer

Equities research analysts at Oppenheimer began coverage on shares of Cavco Industries (NASDAQ:CVCO) in a research note issued on Wednesday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $720.00 price target on the construction company’s stock. Oppenheimer’s price objective would suggest a potential upside of 29.47% from the stock’s previous close.

Other analysts have also issued reports about the stock. UBS Group initiated coverage on shares of Cavco Industries in a research note on Friday, June 5th. They set a “buy” rating and a $700.00 price objective for the company. Zelman & Associates lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a report on Thursday, August 6th. Weiss Ratings downgraded shares of Cavco Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, September 14th. Finally, Zacks Research lowered shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $710.00.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO opened at $556.12 on Wednesday. The company has a market capitalization of $4.28 billion, a PE ratio of 24.20 and a beta of 1.28. The stock has a fifty day moving average of $565.49 and a 200-day moving average of $543.48. Cavco Industries has a one year low of $443.33 and a one year high of $713.01.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.69 by ($0.26). Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%.The company had revenue of $609.96 million for the quarter, compared to analyst estimates of $590.54 million. As a group, research analysts forecast that Cavco Industries will post 22.75 EPS for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In other news, CAO Paul Bigbee sold 342 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was 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 represents a 31.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CVCO. Silvant Capital Management LLC acquired a new stake in shares of Cavco Industries during the 2nd quarter valued at $25,000. Global Retirement Partners LLC acquired a new position in shares of Cavco Industries in the second quarter worth $28,000. IFP Advisors Inc raised its holdings in shares of Cavco Industries by 2,850.0% during the second quarter. IFP Advisors Inc now owns 59 shares of the construction company’s stock worth $36,000 after acquiring an additional 57 shares in the last quarter. Allworth Financial LP acquired a new stake in Cavco Industries during the second quarter valued at $44,000. Finally, Persistent Asset Partners Ltd purchased a new position in Cavco Industries in the second quarter valued at about $52,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cavco Industries Company Profile

Cavco Industries, Inc is a manufacturer of factory-built housing and related products. The company produces manufactured homes, modular homes, park model recreational vehicles and other factory-built structures for residential, commercial and recreational applications. Its homes are sold under a range of brands, including Cavco, Fleetwood, Palm Harbor and Nationwide Homes.

Cavco markets its products through an independent dealer network as well as company-owned retail locations. It also provides financing and insurance services for manufactured-home buyers through affiliated businesses, including CountryPlace Mortgage and insurance operations.