Cavco Industries (NASDAQ:CVCO) EVP Seth Schuknecht Sells 542 Shares of Stock

Cavco Industries, Inc. (NASDAQ:CVCO) EVP Seth Schuknecht sold 542 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $685.00, for a total value of $371,270.00. Following the completion of the transaction, the executive vice president directly owned 1,323 shares in the company, valued at $906,255. This trade represents a 29.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Cavco Industries Trading Down 5.1%

Shares of CVCO opened at $643.97 on Friday. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 1.84 and a beta of 1.29. The business’s fifty day simple moving average is $555.15 and its two-hundred day simple moving average is $551.48. Cavco Industries, Inc. has a 12 month low of $443.33 and a 12 month high of $713.01.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, October 29th. The construction company reported $7.17 earnings per share for the quarter, topping the consensus estimate of $5.52 by $1.65. The firm had revenue of $656.38 million during the quarter, compared to analysts’ expectations of $613.12 million. Cavco Industries had a return on equity of 16.60% and a net margin of 7.68%. As a group, research analysts forecast that Cavco Industries, Inc. will post 24.62 EPS for the current year.

Wall Street Analysts Forecast Growth

CVCO has been the subject of several research analyst reports. Northland Securities assumed coverage on Cavco Industries in a report on Wednesday, October 28th. They issued an “outperform” rating and a $650.00 price objective for the company. Zacks Research upgraded shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 29th. Oppenheimer reaffirmed an “outperform” rating and set a $735.00 price target (up from $720.00) on shares of Cavco Industries in a report on Monday. Zelman & Associates downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Cavco Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $695.00.

Institutional Investors Weigh In On Cavco Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. Silvant Capital Management LLC purchased a new position in Cavco Industries during the second quarter valued at $25,000. Global Retirement Partners LLC bought a new stake in Cavco Industries during the second quarter valued at about $28,000. Root Financial Partners LLC bought a new stake in Cavco Industries during the third quarter valued at about $28,000. Signaturefd LLC grew its holdings in Cavco Industries by 96.3% during the third quarter. Signaturefd LLC now owns 53 shares of the construction company’s stock valued at $30,000 after purchasing an additional 26 shares during the period. Finally, IFP Advisors Inc increased its position in Cavco Industries by 2,850.0% in the second quarter. IFP Advisors Inc now owns 59 shares of the construction company’s stock worth $36,000 after buying an additional 57 shares in the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

About Cavco Industries

Cavco Industries, Inc is a manufacturer of factory-built housing and related products. The company designs and produces manufactured homes, modular homes, park model recreational vehicles, and commercial structures for residential, hospitality, and other applications. Its homes are sold through independent retailers, company-owned retail locations, and a network of housing dealers.

Cavco markets its products under several brands, including Cavco, Fleetwood Homes, Palm Harbor Homes, Nationwide Homes, Solitaire Homes, and CountryPlace.