Cavco Industries (NASDAQ:CVCO) PT Raised to $357.00 at Craig Hallum

Posted by Defense World Staff on Apr 26th, 2023

Cavco Industries (NASDAQ:CVCO – Get Rating) had its price objective increased by equities researchers at Craig Hallum from $310.00 to $357.00 in a research note issued on Monday, The Fly reports. Craig Hallum’s price target points to a potential upside of 20.38% from the stock’s previous close.

Several other equities research analysts also recently commented on CVCO. StockNews.com initiated coverage on shares of Cavco Industries in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Wedbush increased their price target on shares of Cavco Industries from $385.00 to $410.00 and gave the company an “outperform” rating in a report on Monday, February 6th.

Cavco Industries Price Performance

Shares of CVCO stock opened at $296.56 on Monday. The firm has a market capitalization of $2.58 billion, a P/E ratio of 10.85 and a beta of 1.22. The company’s fifty day moving average price is $291.78 and its two-hundred day moving average price is $255.59. Cavco Industries has a 12 month low of $179.47 and a 12 month high of $318.00.

Cavco Industries (NASDAQ:CVCO – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The construction company reported $6.66 earnings per share for the quarter, beating analysts’ consensus estimates of $5.85 by $0.81. Cavco Industries had a net margin of 11.37% and a return on equity of 27.69%. The business had revenue of $500.60 million during the quarter, compared to the consensus estimate of $540.20 million. On average, sell-side analysts anticipate that Cavco Industries will post 27.36 EPS for the current year.

Insider Buying and Selling

In other news, insider Gavin Ryan sold 3,000 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $290.03, for a total value of $870,090.00. Following the sale, the insider now owns 529 shares of the company’s stock, valued at $153,425.87. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.62% of the stock is owned by insiders.

Institutional Investors Weigh In On Cavco Industries

A number of institutional investors have recently made changes to their positions in CVCO. Vanguard Group Inc. raised its stake in Cavco Industries by 4.6% in the first quarter. Vanguard Group Inc. now owns 789,464 shares of the construction company’s stock valued at $190,142,000 after purchasing an additional 34,461 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Cavco Industries by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 394,088 shares of the construction company’s stock valued at $89,164,000 after purchasing an additional 11,325 shares during the period. State Street Corp boosted its holdings in shares of Cavco Industries by 3.4% during the 1st quarter. State Street Corp now owns 322,818 shares of the construction company’s stock worth $77,751,000 after buying an additional 10,654 shares in the last quarter. Broad Bay Capital Management LP raised its holdings in shares of Cavco Industries by 9.0% during the third quarter. Broad Bay Capital Management LP now owns 292,000 shares of the construction company’s stock valued at $60,082,000 after purchasing an additional 24,000 shares during the period. Finally, Boston Trust Walden Corp raised its holdings in shares of Cavco Industries by 0.5% during the fourth quarter. Boston Trust Walden Corp now owns 248,266 shares of the construction company’s stock valued at $56,170,000 after purchasing an additional 1,246 shares during the period. Institutional investors own 93.32% of the company’s stock.

Cavco Industries Company Profile

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Cavco Industries, Inc engages in the development of residential modular structures. It offers manufactured homes, modular homes, park model RVs and cabins, commercial structures, mortgage lending, and insurance. The firm’s brands include Cavco, Fleetwood, Palm Harbor and Fairmont, Friendship, Chariot Eagle and Destiny.

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