David Greenblatt Acquires 413 Shares of Cavco Industries (NASDAQ:CVCO) Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director David Greenblatt bought 413 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was purchased at an average cost of $463.01 per share, for a total transaction of $191,223.13. Following the transaction, the director owned 15,989 shares in the company, valued at $7,403,066.89. The trade was a 2.65% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Cavco Industries Stock Up 2.5%

Shares of CVCO stock traded up $12.74 during trading on Thursday, reaching $518.20. The company’s stock had a trading volume of 104,149 shares, compared to its average volume of 238,673. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 22.51 and a beta of 1.32. Cavco Industries, Inc. has a one year low of $393.53 and a one year high of $713.01. The business has a fifty day moving average price of $609.93 and a 200-day moving average price of $553.61.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, January 29th. The construction company reported $5.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.00 by ($0.42). The company had revenue of $580.99 million during the quarter, compared to analyst estimates of $593.37 million. Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. Research analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CVCO shares. Zacks Research downgraded Cavco Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Zelman & Associates upgraded shares of Cavco Industries to an “outperform” rating in a research note on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Cavco Industries in a report on Monday, December 29th. Finally, CJS Securities raised Cavco Industries to a “strong-buy” rating in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $550.00.

Institutional Trading of Cavco Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. Salomon & Ludwin LLC bought a new position in shares of Cavco Industries in the 3rd quarter valued at $31,000. Farther Finance Advisors LLC raised its position in Cavco Industries by 151.4% in the second quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock valued at $38,000 after purchasing an additional 53 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of Cavco Industries by 118.2% during the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock valued at $57,000 after purchasing an additional 65 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Cavco Industries by 1,814.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock worth $58,000 after acquiring an additional 127 shares during the last quarter. Finally, Danske Bank A S bought a new position in shares of Cavco Industries during the third quarter valued at $58,000. Institutional investors own 95.56% of the company’s stock.

About Cavco Industries

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.