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

Cavco Industries, Inc. (NASDAQ:CVCO) has received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $710.00.

Several analysts recently commented on the stock. Zacks Research downgraded shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Zelman & Associates cut shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a report on Thursday, August 6th. Weiss Ratings lowered shares of Cavco Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, September 14th. UBS Group began coverage on Cavco Industries in a research note on Friday, June 5th. They set a “buy” rating and a $700.00 target price on the stock. Finally, Oppenheimer assumed coverage on Cavco Industries in a report on Wednesday. They issued an “outperform” rating and a $720.00 target price for the company.

Insider Activity at Cavco Industries

In other news, CAO Paul Bigbee sold 342 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $592.00, for a total value of $202,464.00. Following the transaction, the chief accounting officer owned 736 shares in the company, valued at $435,712. This represents a 31.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Silvant Capital Management LLC bought a new position in Cavco Industries in the 2nd quarter worth $25,000. Global Retirement Partners LLC purchased a new position in shares of Cavco Industries during the 2nd quarter valued at about $28,000. IFP Advisors Inc lifted its position in shares of Cavco Industries by 2,850.0% during the 2nd quarter. IFP Advisors Inc now owns 59 shares of the construction company’s stock valued at $36,000 after buying an additional 57 shares in the last quarter. Allworth Financial LP bought a new position in shares of Cavco Industries during the 2nd quarter valued at approximately $44,000. Finally, Persistent Asset Partners Ltd purchased a new stake in Cavco Industries in the 2nd quarter worth approximately $52,000. 95.56% of the stock is currently owned by institutional investors.

Cavco Industries Stock Performance

CVCO opened at $556.12 on Wednesday. Cavco Industries has a 52-week low of $443.33 and a 52-week high of $713.01. The stock has a market capitalization of $4.28 billion, a PE ratio of 24.20 and a beta of 1.28. The stock’s 50 day moving average price is $565.49 and its 200-day moving average price is $543.48.

Cavco Industries (NASDAQ:CVCO) last released 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 firm 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%. Research analysts forecast that Cavco Industries will post 22.75 EPS for the current fiscal year.

Cavco Industries Company Profile

Cavco Industries, Inc is a manufacturer of factory-built housing and related products. The company produces manufactured homes, modular homes, park model recreational vehicles and other factory-built structures for residential, commercial and recreational applications. Its homes are sold under a range of brands, including Cavco, Fleetwood, Palm Harbor and Nationwide Homes.

Cavco markets its products through an independent dealer network as well as company-owned retail locations. It also provides financing and insurance services for manufactured-home buyers through affiliated businesses, including CountryPlace Mortgage and insurance operations.