Cavco Industries, Inc. (NASDAQ:CVCO) Stock Has Consensus Price Target of $710.00

Cavco Industries, Inc. (NASDAQ:CVCO) has received an average recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $710.00.

A number of research firms have weighed in on CVCO. Zelman & Associates lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 6th. Oppenheimer started coverage on shares of Cavco Industries in a research note on Wednesday, September 30th. They issued an “outperform” rating and a $720.00 target price on the stock. Zacks Research upgraded shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 29th. Finally, Weiss Ratings raised shares of Cavco Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 29th.

Insider Transactions at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 342 shares of Cavco Industries stock in a transaction on 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 owned 736 shares of the company’s stock, valued at approximately $435,712. This trade represents a 31.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

Several large investors have recently bought and sold shares of CVCO. Silvant Capital Management LLC bought a new stake in shares of Cavco Industries in the second quarter worth $25,000. Global Retirement Partners LLC bought a new position in Cavco Industries in the second quarter valued at about $28,000. IFP Advisors Inc boosted 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 purchasing an additional 57 shares during the last quarter. Allworth Financial LP purchased a new position in Cavco Industries in the second quarter worth about $44,000. Finally, Versant Capital Management Inc grew its stake in shares of Cavco Industries by 82.9% during the 3rd quarter. Versant Capital Management Inc now owns 75 shares of the construction company’s stock valued at $42,000 after purchasing an additional 34 shares during the period. 95.56% of the stock is currently owned by institutional investors.

Cavco Industries Trading Down 0.6%

NASDAQ CVCO opened at $572.80 on Wednesday. Cavco Industries has a 12 month low of $443.33 and a 12 month high of $713.01. The stock has a market cap of $4.40 billion, a P/E ratio of 24.93 and a beta of 1.27. The stock’s fifty day moving average price is $565.52 and its 200-day moving average price is $546.14.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share for the quarter, missing the consensus estimate of $5.69 by ($0.26). The company had revenue of $609.96 million for the quarter, compared to the consensus estimate of $590.54 million. Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. As a group, analysts forecast that Cavco Industries will post 22.66 earnings per share for the current fiscal year.

Cavco Industries Company Profile

Cavco Industries, Inc is a manufacturer of factory-built housing headquartered in Phoenix, Arizona. The company produces manufactured homes, modular homes, park model recreational vehicles, and related structures designed for residential and vacation use. Its homes are sold through independent retailers, company-owned retail locations, and housing developers.

Cavco markets products under several brands, including Cavco, Fleetwood Homes, Palm Harbor Homes, and Solitaire Homes. In addition to manufacturing, the company provides consumer financing through CountryPlace Mortgage and property and casualty insurance through Standard Casualty.