Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) Director Richard Kerley sold 500 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $588.76, for a total transaction of $294,380.00. Following the sale, the director directly owned 6,169 shares in the company, valued at approximately $3,632,060.44. This trade represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Cavco Industries Stock Up 6.1%

• Cavco's Future Looks Bright as Affordable Housing Demand Soars

Shares of NASDAQ:CVCO opened at $598.95 on Friday. The company's fifty day moving average is $513.98 and its two-hundred day moving average is $555.23. Cavco Industries, Inc. has a 12-month low of $393.53 and a 12-month high of $713.01. The company has a market cap of $4.60 billion, a P/E ratio of 24.99 and a beta of 1.30.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its earnings results on Thursday, May 21st. The construction company reported $5.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.30 by $0.12. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. The company had revenue of $550.13 million during the quarter, compared to the consensus estimate of $571.06 million. Equities research analysts anticipate that Cavco Industries, Inc. will post 25 earnings per share for the current year.

Institutional Inflows and Outflows

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• Cavco's Ratings Upside, Cheaper Homes Alternative?

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its stake in Cavco Industries by 852,093.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company's stock valued at $1,062,226,000 after buying an additional 1,797,917 shares during the last quarter. State Street Corp grew its stake in Cavco Industries by 6.1% in the 2nd quarter. State Street Corp now owns 380,682 shares of the construction company's stock valued at $165,380,000 after buying an additional 21,837 shares during the last quarter. Boston Partners grew its stake in Cavco Industries by 82.8% in the 3rd quarter. Boston Partners now owns 369,177 shares of the construction company's stock valued at $213,866,000 after buying an additional 167,230 shares during the last quarter. Geode Capital Management LLC grew its stake in Cavco Industries by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 232,847 shares of the construction company's stock valued at $137,569,000 after buying an additional 1,018 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Cavco Industries by 53.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 213,572 shares of the construction company's stock valued at $126,166,000 after buying an additional 74,542 shares during the last quarter. Institutional investors own 95.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CVCO. UBS Group began coverage on shares of Cavco Industries in a report on Friday, June 5th. They set a "buy" rating and a $700.00 price target on the stock. Zacks Research upgraded shares of Cavco Industries from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Cavco Industries in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Cavco Industries has an average rating of "Moderate Buy" and an average target price of $625.00.

Get Our Latest Research Report on CVCO

About Cavco Industries

(Get Free Report)

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.

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