Neumeier Poma Investment Counsel LLC bought a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO – Get Rating) during the 1st quarter, HoldingsChannel.com reports. The fund bought 61,010 shares of the construction company's stock, valued at approximately $14,694,000.
Several other hedge funds also recently modified their holdings of the stock. Prescott Group Capital Management L.L.C. purchased a new position in shares of Cavco Industries during the first quarter valued at approximately $1,927,000. Systematic Alpha Investments LLC purchased a new position in Cavco Industries in the first quarter worth $217,000. Marks Group Wealth Management Inc boosted its position in Cavco Industries by 5.0% in the first quarter. Marks Group Wealth Management Inc now owns 4,353 shares of the construction company's stock worth $1,048,000 after purchasing an additional 208 shares during the last quarter. Timelo Investment Management Inc. purchased a new position in Cavco Industries in the first quarter worth $404,000. Finally, Toronto Dominion Bank purchased a new position in Cavco Industries in the first quarter worth $530,000. Hedge funds and other institutional investors own 92.58% of the company's stock.
Get Cavco Industries alerts:Cavco Industries Stock Down 3.3 %
Shares of NASDAQ:CVCO traded down $9.41 during midday trading on Friday, reaching $273.59. 398 shares of the company traded hands, compared to its average volume of 59,684. Cavco Industries, Inc. has a 12 month low of $179.47 and a 12 month high of $327.24. The firm's fifty day moving average price is $228.67 and its two-hundred day moving average price is $244.04. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 11.29 and a beta of 1.14.
Cavco Industries (NASDAQ:CVCO – Get Rating) last posted its earnings results on Thursday, August 4th. The construction company reported $6.63 EPS for the quarter, topping the consensus estimate of $3.95 by $2.68. Cavco Industries had a return on equity of 24.87% and a net margin of 12.22%. The business had revenue of $588.34 million during the quarter, compared to analysts' expectations of $402.00 million. Analysts forecast that Cavco Industries, Inc. will post 24.05 earnings per share for the current year.Wall Street Analyst Weigh In
Several analysts have issued reports on the company. Craig Hallum boosted their target price on Cavco Industries to $335.00 in a research note on Monday. StockNews.com upgraded Cavco Industries from a "hold" rating to a "buy" rating in a research note on Friday, July 1st. Finally, Wedbush upgraded Cavco Industries from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $315.00 to $385.00 in a research note on Friday, August 5th.
Cavco Industries Company Profile
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Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, and MidCountry brands.
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