ProShare Advisors LLC reduced its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO – Get Rating) by 11.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,028 shares of the construction company's stock after selling 253 shares during the period. ProShare Advisors LLC's holdings in Cavco Industries were worth $489,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of CVCO. Gibson Wealth Advisors LLC bought a new position in Cavco Industries during the fourth quarter worth $64,000. USA Financial Portformulas Corp acquired a new position in Cavco Industries during the fourth quarter worth about $83,000. CIBC Private Wealth Group LLC acquired a new position in Cavco Industries during the fourth quarter worth about $203,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Cavco Industries during the fourth quarter worth about $211,000. Finally, Centiva Capital LP bought a new stake in shares of Cavco Industries during the fourth quarter worth about $246,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.
Get Cavco Industries alerts:Cavco Industries Price Performance
Shares of Cavco Industries stock opened at $224.18 on Friday. The stock has a market capitalization of $1.99 billion, a P/E ratio of 9.34 and a beta of 1.14. Cavco Industries, Inc. has a one year low of $179.47 and a one year high of $327.24. The business's 50 day simple moving average is $241.23 and its two-hundred day simple moving average is $242.18.
Cavco Industries (NASDAQ:CVCO – Get Rating) last released 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 for the quarter, compared to the consensus estimate of $402.00 million. Sell-side analysts expect that Cavco Industries, Inc. will post 24.05 earnings per share for the current fiscal year.Analyst Upgrades and Downgrades
CVCO has been the topic of several analyst reports. Wedbush upgraded Cavco Industries from a "neutral" rating to an "outperform" rating and upped their target price for the company from $315.00 to $385.00 in a report on Friday, August 5th. StockNews.com raised Cavco Industries from a "hold" rating to a "buy" rating in a research report on Friday, July 1st. Finally, Craig Hallum increased their price target on Cavco Industries to $335.00 in a research note on Monday, August 15th.
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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