Wedbush Comments on Cavco Industries, Inc.’s Q1 2024 Earnings (NASDAQ:CVCO)

Cavco Industries, Inc. (NASDAQ:CVCO – Get Rating) – Wedbush boosted their Q1 2024 earnings per share estimates for Cavco Industries in a report issued on Monday, May 22nd. Wedbush analyst J. Mccanless now expects that the construction company will post earnings of $6.76 per share for the quarter, up from their prior forecast of $6.53. The consensus estimate for Cavco Industries’ current full-year earnings is $25.20 per share. Wedbush also issued estimates for Cavco Industries’ Q2 2024 earnings at $7.18 EPS, Q1 2025 earnings at $7.80 EPS, Q2 2025 earnings at $8.21 EPS, Q3 2025 earnings at $6.30 EPS and Q4 2025 earnings at $7.99 EPS.

CVCO has been the topic of a number of other research reports. Craig Hallum lowered their target price on Cavco Industries from $357.00 to $338.00 in a research report on Monday. StockNews.com initiated coverage on Cavco Industries in a research report on Thursday, May 18th. They issued a “buy” rating on the stock.

Cavco Industries Price Performance

Shares of Cavco Industries stock opened at $280.88 on Tuesday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 10.43 and a beta of 1.22. The stock’s 50-day moving average is $295.20 and its 200-day moving average is $266.09. Cavco Industries has a one year low of $179.47 and a one year high of $318.00.

Insider Activity at Cavco Industries

In other Cavco Industries news, insider Gavin Ryan sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $290.03, for a total transaction of $870,090.00. Following the transaction, the insider now owns 529 shares of the company’s stock, valued at $153,425.87. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.62% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cavco Industries

A number of institutional investors have recently bought and sold shares of the business. Toroso Investments LLC acquired a new position in Cavco Industries during the first quarter worth approximately $378,000. Putnam Investments LLC increased its position in Cavco Industries by 72.9% during the first quarter. Putnam Investments LLC now owns 10,202 shares of the construction company’s stock worth $3,242,000 after buying an additional 4,301 shares during the last quarter. Trivant Custom Portfolio Group LLC acquired a new position in Cavco Industries during the first quarter worth approximately $271,000. JPMorgan Chase & Co. grew its position in shares of Cavco Industries by 10.0% in the first quarter. JPMorgan Chase & Co. now owns 15,141 shares of the construction company’s stock valued at $4,811,000 after purchasing an additional 1,371 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Cavco Industries in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 93.32% of the company’s stock.

About Cavco Industries

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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.