Cavco Industries, Inc. (NASDAQ:CVCO – Get Rating)'s stock price was down 4.5% on Wednesday . The company traded as low as $232.90 and last traded at $232.90. Approximately 1,328 shares changed hands during trading, a decline of 98% from the average daily volume of 60,457 shares. The stock had previously closed at $243.94.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on CVCO shares. StockNews.com raised Cavco Industries from a "hold" rating to a "buy" rating in a research report on Friday, July 1st. Craig Hallum upped their target price on Cavco Industries to $335.00 in a research report on Monday, August 15th. Finally, Wedbush raised Cavco Industries from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $315.00 to $385.00 in a research report on Friday, August 5th.
Get Cavco Industries alerts:Cavco Industries Price Performance
The company has a fifty day moving average of $240.32 and a 200-day moving average of $242.24. The firm has a market cap of $2.07 billion, a P/E ratio of 9.49 and a beta of 1.14.
Cavco Industries (NASDAQ:CVCO – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The construction company reported $6.63 earnings per share (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 the consensus estimate of $402.00 million. On average, sell-side analysts expect that Cavco Industries, Inc. will post 24.05 EPS for the current fiscal year.Institutional Investors Weigh In On Cavco Industries
Institutional investors have recently bought and sold shares of the stock. Gibson Wealth Advisors LLC bought a new stake in Cavco Industries during the fourth quarter worth $64,000. USA Financial Portformulas Corp bought a new position in Cavco Industries in the 4th quarter valued at $83,000. US Bancorp DE grew its stake in Cavco Industries by 25.2% in the 1st quarter. US Bancorp DE now owns 388 shares of the construction company's stock valued at $94,000 after purchasing an additional 78 shares during the period. Captrust Financial Advisors grew its stake in Cavco Industries by 31.4% in the 2nd quarter. Captrust Financial Advisors now owns 393 shares of the construction company's stock valued at $77,000 after purchasing an additional 94 shares during the period. Finally, CIBC Private Wealth Group LLC bought a new position in Cavco Industries in the 4th quarter valued at $203,000. Institutional investors own 99.61% of the company's stock.
About Cavco Industries
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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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