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

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

Cavco Industries Stock Down 5.1%

CVCO stock traded down $34.76 during trading hours on Thursday, hitting $643.97. The company’s stock had a trading volume of 163,308 shares, compared to its average volume of 145,067. The stock has a 50 day moving average price of $553.82 and a two-hundred day moving average price of $551.75. Cavco Industries, Inc. has a 12 month low of $443.33 and a 12 month high of $713.01. The company has a market capitalization of $4.91 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 1.76 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, October 29th. The construction company reported $7.17 earnings per share for the quarter, beating analysts’ consensus estimates of $5.52 by $1.65. Cavco Industries had a net margin of 7.68% and a return on equity of 16.60%. The business had revenue of $656.38 million for the quarter, compared to the consensus estimate of $613.12 million. Sell-side analysts expect that Cavco Industries, Inc. will post 24.62 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund lifted its holdings in shares of Cavco Industries by 6.2% during the third quarter. Illinois Municipal Retirement Fund now owns 4,148 shares of the construction company’s stock worth $2,324,000 after buying an additional 242 shares during the last quarter. Keybank National Association OH grew its stake in shares of Cavco Industries by 32.3% in the third quarter. Keybank National Association OH now owns 1,105 shares of the construction company’s stock worth $619,000 after acquiring an additional 270 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Cavco Industries by 4.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,860 shares of the construction company’s stock worth $5,691,000 after acquiring an additional 459 shares during the last quarter. Hohimer Wealth Management LLC grew its stake in shares of Cavco Industries by 5.8% in the third quarter. Hohimer Wealth Management LLC now owns 457 shares of the construction company’s stock worth $256,000 after acquiring an additional 25 shares during the last quarter. Finally, Brighton Jones LLC bought a new position in Cavco Industries during the third quarter worth $203,000. 95.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and set a $735.00 price target (up from $720.00) on shares of Cavco Industries in a research note on Monday. Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 29th. Northland Securities began coverage on Cavco Industries in a research note on Wednesday, October 28th. They issued an “outperform” rating and a $650.00 price objective on the stock. Weiss Ratings upgraded Cavco Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Zelman & Associates cut Cavco Industries from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cavco Industries currently has an average rating of “Moderate Buy” and an average price target of $695.00.

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.