Fintel reports that on May 22, 2023, Craig-Hallum maintained coverage of Cavco Industries (NASDAQ:CVCO) with a Buy recommendation.
Analyst Price Forecast Suggests 28.67% Upside
As of May 11, 2023, the average one-year price target for Cavco Industries is 365.50. The forecasts range from a low of 313.10 to a high of $430.50. The average price target represents an increase of 28.67% from its latest reported closing price of 284.05.
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The projected annual revenue for Cavco Industries is 2,146MM, an increase of 0.15%. The projected annual non-GAAP EPS is 23.59.
What is the Fund Sentiment?
There are 594 funds or institutions reporting positions in Cavco Industries. This is an increase of 16 owner(s) or 2.77% in the last quarter. Average portfolio weight of all funds dedicated to CVCO is 0.23%, an increase of 17.54%. Total shares owned by institutions increased in the last three months by 3.50% to 9,948K shares. 
The put/call ratio of CVCO is 0.62, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 614K shares representing 7.06% ownership of the company. In it's prior filing, the firm reported owning 606K shares, representing an increase of 1.32%. The firm increased its portfolio allocation in CVCO by 1.37% over the last quarter.
Capital World Investors holds 571K shares representing 6.56% ownership of the company. In it's prior filing, the firm reported owning 419K shares, representing an increase of 26.52%. The firm increased its portfolio allocation in CVCO by 85.31% over the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 419K shares representing 4.82% ownership of the company. In it's prior filing, the firm reported owning 171K shares, representing an increase of 59.25%. The firm increased its portfolio allocation in CVCO by 152.19% over the last quarter.
Broad Bay Capital Management holds 360K shares representing 4.14% ownership of the company. In it's prior filing, the firm reported owning 378K shares, representing a decrease of 5.00%. The firm increased its portfolio allocation in CVCO by 28.96% over the last quarter.
Wellington Management Group Llp holds 287K shares representing 3.30% ownership of the company. In it's prior filing, the firm reported owning 334K shares, representing a decrease of 16.14%. The firm decreased its portfolio allocation in CVCO by 83.13% over the last quarter.
Cavco Industries Background Information
(This description is provided by the company.)
Cavco Industries, Inc., headquartered in Phoenix, Arizona, designs and produces factory-built housing products primarily distributed through a network of independent and Company-owned retailers. Cavco Industries is one of the largest producers of manufactured homes in the United States, based on reported wholesale shipments and marketed under a variety of brand names including Cavco, Fleetwood, Palm Harbor, Fairmont, Friendship, Chariot Eagle and Destiny. The company is also a leading producer of park model RVs, vacation cabins and systems-built commercial structures, as well as modular homes. Cavco's finance subsidiary, Country Place Mortgage, is an approved Fannie Mae and Freddie Mac seller/servicer and a Ginnie Mae mortgage-backed securities issuer that offers conforming mortgages, non-conforming mortgages and home-only loans to purchasers of factory-built homes. Its insurance subsidiary, Standard Casualty, provides property and casualty insurance to owners of manufactured homes.
Key filings for this company:
This story originally appeared on Fintel.
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