Cavco Industries (NASDAQ:CVCO) Director Acquires $43,500.00 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director David Greenblatt purchased 87 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was acquired at an average price of $500.00 per share, with a total value of $43,500.00. Following the completion of the acquisition, the director directly owned 16,076 shares in the company, valued at $8,038,000. The trade was a 0.54% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Cavco Industries Trading Up 2.5%

CVCO traded up $12.74 during midday trading on Thursday, hitting $518.20. The company’s stock had a trading volume of 104,149 shares, compared to its average volume of 238,673. Cavco Industries, Inc. has a 52-week low of $393.53 and a 52-week high of $713.01. The firm has a 50-day moving average price of $609.93 and a two-hundred day moving average price of $553.61. The firm has a market cap of $4.02 billion, a P/E ratio of 22.51 and a beta of 1.32.

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 the consensus estimate of $6.00 by ($0.42). Cavco Industries had a return on equity of 17.84% and a net margin of 8.37%.The company had revenue of $580.99 million during the quarter, compared to analyst estimates of $593.37 million. On average, equities analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Institutional Investors Weigh In On Cavco Industries

A number of large investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Cavco Industries by 6.1% during the 2nd quarter. State Street Corp now owns 380,682 shares of the construction company’s stock valued at $165,380,000 after purchasing an additional 21,837 shares during the period. Boston Partners boosted its holdings in shares of Cavco Industries by 82.8% in the third quarter. Boston Partners now owns 369,177 shares of the construction company’s stock worth $213,866,000 after buying an additional 167,230 shares during the period. Ameriprise Financial Inc. increased its position in shares of Cavco Industries by 0.7% in the third quarter. Ameriprise Financial Inc. now owns 147,036 shares of the construction company’s stock worth $85,388,000 after acquiring an additional 963 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Cavco Industries by 76.9% in the second quarter. Schroder Investment Management Group now owns 130,106 shares of the construction company’s stock worth $56,522,000 after acquiring an additional 56,578 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of Cavco Industries by 6.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 81,786 shares of the construction company’s stock valued at $47,496,000 after acquiring an additional 5,200 shares in the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

About Cavco Industries

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.