Cavco Industries (NASDAQ:CVCO) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Cavco Industries (NASDAQ:CVCO – Get Rating) in a research note published on Thursday. The brokerage issued a hold rating on the construction company’s stock.

Separately, Wedbush boosted their price target on shares of Cavco Industries from $385.00 to $410.00 and gave the company an outperform rating in a report on Monday, February 6th.

Cavco Industries Stock Performance

Cavco Industries stock traded up $0.95 during trading hours on Thursday, hitting $289.41. The company had a trading volume of 247,082 shares, compared to its average volume of 61,046. The firm has a market cap of $2.51 billion, a P/E ratio of 10.59 and a beta of 1.19. Cavco Industries has a 1 year low of $179.47 and a 1 year high of $299.36. The company has a 50-day moving average price of $275.61 and a two-hundred day moving average price of $239.98.

Cavco Industries (NASDAQ:CVCO – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The construction company reported $6.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.85 by $0.81. Cavco Industries had a net margin of 11.37% and a return on equity of 27.69%. The company had revenue of $500.60 million during the quarter, compared to analysts’ expectations of $540.20 million. As a group, equities research analysts anticipate that Cavco Industries will post 27.36 EPS for the current year.

Insider Activity

In related news, insider Gavin Ryan sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $290.03, for a total transaction of $870,090.00. Following the completion of the transaction, the insider now owns 529 shares in the company, valued at approximately $153,425.87. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.62% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Lakewood Asset Management LLC bought a new position in shares of Cavco Industries during the 4th quarter worth approximately $171,000. Truist Financial Corp increased its stake in Cavco Industries by 0.3% during the 4th quarter. Truist Financial Corp now owns 15,153 shares of the construction company’s stock valued at $3,428,000 after purchasing an additional 48 shares in the last quarter. State of Wyoming increased its stake in Cavco Industries by 101.4% during the 4th quarter. State of Wyoming now owns 888 shares of the construction company’s stock valued at $201,000 after purchasing an additional 447 shares in the last quarter. Metropolitan Life Insurance Co NY increased its stake in Cavco Industries by 8.1% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 550 shares of the construction company’s stock valued at $124,000 after purchasing an additional 41 shares in the last quarter. Finally, State of Tennessee Treasury Department increased its stake in Cavco Industries by 19.7% during the 4th quarter. State of Tennessee Treasury Department now owns 8,005 shares of the construction company’s stock valued at $1,811,000 after purchasing an additional 1,316 shares in the last quarter. Institutional investors own 93.32% of the company’s stock.

About Cavco Industries

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Cavco Industries, Inc engages in the development of residential modular structures. It offers manufactured homes, modular homes, park model RVs and cabins, commercial structures, mortgage lending, and insurance. The firm’s brands include Cavco, Fleetwood, Palm Harbor and Fairmont, Friendship, Chariot Eagle and Destiny.