Craig Hallum Raises Cavco Industries (NASDAQ:CVCO) Price Target to $422.00

Cavco Industries (NASDAQ:CVCO) had its price objective boosted by Craig Hallum from $382.00 to $422.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Separately, Wedbush reiterated an outperform rating and issued a $425.00 target price on shares of Cavco Industries in a research note on Friday, August 2nd.

Cavco Industries Trading Down 0.1 %

CVCO stock opened at $363.41 on Monday. The stock has a market cap of $3.01 billion, a PE ratio of 19.80 and a beta of 1.23. Cavco Industries has a 12 month low of $233.84 and a 12 month high of $426.41. The company has a 50-day moving average price of $366.27 and a 200 day moving average price of $366.55.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.97 by ($0.86). Cavco Industries had a net margin of 8.12% and a return on equity of 14.30%. The business had revenue of $477.60 million for the quarter, compared to analysts’ expectations of $487.80 million. During the same quarter last year, the firm earned $5.29 EPS. Sell-side analysts forecast that Cavco Industries will post 19.77 EPS for the current year.

Insider Activity

In related news, SVP Steven K. Like sold 575 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $366.62, for a total value of $210,806.50. Following the completion of the sale, the senior vice president now owns 1,255 shares in the company, valued at $460,108.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

Several hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its stake in Cavco Industries by 1,477.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,663 shares of the construction company’s stock worth $1,963,000 after acquiring an additional 5,304 shares during the period. First Eagle Investment Management LLC raised its holdings in shares of Cavco Industries by 28.8% in the 1st quarter. First Eagle Investment Management LLC now owns 12,328 shares of the construction company’s stock valued at $4,920,000 after purchasing an additional 2,760 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Cavco Industries in the 4th quarter worth approximately $6,085,000. Osterweis Capital Management Inc. boosted its stake in shares of Cavco Industries by 25.8% during the fourth quarter. Osterweis Capital Management Inc. now owns 24,372 shares of the construction company’s stock valued at $8,448,000 after purchasing an additional 5,004 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Cavco Industries by 7.1% during the first quarter. Bessemer Group Inc. now owns 34,252 shares of the construction company’s stock valued at $13,668,000 after purchasing an additional 2,263 shares in the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

About Cavco Industries

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.