Cavco Industries (NASDAQ:CVCO) Stock Picked Up by Analysts at Northland Securities

Equities research analysts at Northland Securities started coverage on shares of Cavco Industries (NASDAQ:CVCO) in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage set an “outperform” rating and a $650.00 price target on the construction company’s stock. Northland Securities‘s target price indicates a potential upside of 20.55% from the stock’s previous close.

Other analysts have also issued research reports about the company. Oppenheimer initiated coverage on Cavco Industries in a report on Wednesday, September 30th. They issued an “outperform” rating and a $720.00 target price on the stock. Weiss Ratings raised Cavco Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 29th. Zelman & Associates lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 6th. Finally, Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $690.00.

Cavco Industries Trading Up 1.4%

CVCO opened at $539.21 on Wednesday. Cavco Industries has a one year low of $443.33 and a one year high of $713.01. The business’s 50-day simple moving average is $550.34 and its 200-day simple moving average is $553.54.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.69 by ($0.26). The company had revenue of $609.96 million during the quarter, compared to analysts’ expectations of $590.54 million. On average, sell-side analysts anticipate that Cavco Industries will post 22.66 earnings per share for the current fiscal year.

Insider Transactions at Cavco Industries

In related news, CAO Paul Bigbee sold 342 shares of the business’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 completion of the sale, the chief accounting officer directly owned 736 shares of the company’s stock, valued at $435,712. The trade was a 31.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cavco Industries

A number of hedge funds have recently made changes to their positions in CVCO. Fifth Third Bancorp increased its stake in Cavco Industries by 599.0% during the first quarter. Fifth Third Bancorp now owns 2,824 shares of the construction company’s stock valued at $1,367,000 after acquiring an additional 2,420 shares during the period. Robotti Robert bought a new stake in shares of Cavco Industries in the 2nd quarter worth approximately $19,903,000. California State Teachers Retirement System grew its holdings in shares of Cavco Industries by 24.1% during the 1st quarter. California State Teachers Retirement System now owns 9,319 shares of the construction company’s stock worth $4,513,000 after purchasing an additional 1,808 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of Cavco Industries during the 2nd quarter worth approximately $5,412,688. Finally, Punch & Associates Investment Management Inc. bought a new stake in shares of Cavco Industries during the second quarter valued at approximately $33,133,000. Institutional investors 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 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.