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Posts Tagged ‘milestone’

Milestone: Cavco Industries (CVCO) stock reached new 52-week high

September 10th, 2016 Comments off
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Graphic credit, Cavco, text credit, MHProNews,

Cavco Industries, Inc., the nation’s second largest producer of manufactured homes in the United States, recently hit a new 52-week high, when it reached a peak of $109.43.

Cavco closed Friday night at 101.17, down after a broader retreat by the markets

A possible benefit of a company hitting a new 52-week high is trading opportunities will open on up on either the long or short side, depending on an individual investor’s perspective.

While some may look at this milestone as sign of momentum and the perfect time to buy, others with a less optimistic view might see the peak as the beginning of the end of a strong run.

Here’s a closer look at the numbers behind Cavco’s new 52-week high:

  • Volume of 235,442
  • Stock has a float of 8.97 million shares
  • Average daily volume of $96,947
  • Market cap up to $958.46 million
  • 50-day SMA of $99.05 and 200-day SMA of $90.22

As is widely known by MH Industry professionals, Phoenix, AZ-based Cavco Industries produces manufactured homes, modular and park model homes, vacation cabins and commercial structures. Factory-built homes are designed and produced under such brand names as Cavco Homes, Fleetwood Homes and Palm Harbor Homes.

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Graphic credit, Bloomberg. To see the complete Manufactured Housing Industry tracked stock report for Friday, 9.9.2016, please click here or on the graphic above.

An uptick for Cavco

A six-month bull market means Cavco should be a low-risk investment, according to the Press Telegraph. Plus if Cavco reaches a $129.54 stock price, the company would add another $206.97 million to its overall value.

Unless the broader retreat in the markets continues its drag, some analysts believe that Cavco is on the rise.  For example:

  • The stock rose 2.61% on Sept. 2 and has increased by 29.10% since February 1 of this year and outperformed the S&P 500 by 16.69%
  • Analysts will get a better idea of how Cavco has performed on November 3, when the company next reports its earnings.

Power players’ moves

Several of Cavco Industries’ leaders recently sold company shares, including director William C. Boor, Chairman, President and CEO Joseph H. Stegmayer and director Steven G. Bunger.  Director Jack Hanna filed a Form 4. For more details about those moves, click here. ##

(Image credits as shown.)

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Joe Dyton, for the Daily Business News, MHProNews.

Submitted by Joe Dyton to the Daily Business News, MHProNews.

House Committee to HUD: Hire Manufactured Housing Administrator or Else

June 29th, 2013 Comments off

The 2014 fiscal year House Appropriations Committee measure that outlines budgets for the Dept. of Housing and Urban development (HUD) contains a provision that HUD must choose a permanent administrator of the Office of Manufactured Housing within 120 days of the legislation’s enactment. Introduced by Rep. Chuck Fleischmann (R-Tenn.), if HUD fails to meet this deadline, the agency will lose $50,000 in salaries and expense budgeting for each day the requirement is not met, according to the Manufactured Housing Institute (MHI) newsletter. The report accompanying the bill states that “the Committee understands that a substantial backlog of recommendations approved by the Manufactured Housing Consensus Committee exists, and a lack of action and attention in this area has meant that codes and standards have not kept pace with technological innovation or allowed the industry to keep pace with consumer demand. The Committee looks forward to a more focused and responsive office under permanent leadership.” Knowing of the committee’s activity, a week prior HUD issued a notice announcing its search for someone to fill the administrator post, reversing a long-standing policy to leave the post vacant. As MHProNews knows, this marks an important milestone for the industry.

(Image credit: Fairmont Homes)

Home Prices in Texas Rise above 2007 Levels

June 14th, 2013 Comments off

According to nationalmortggenews a report by the Dallas Federal Reserve Bank says home prices in Texas have recovered to seven percent above the pre-recession highpoint in 2007. One of just ten states to have reached that milestone, Texas is second only to North Dakota in the amount that today’s prices have exceeded the previous high. (As MHProNews has reported numerous times, the oil boom demand for worker housing and supportive services residences in western North Dakota has money flowing nearly like water.) CoreLogic says four of the top six markets for new homes are in Texas—Houston, Dallas, San Antonio and Austin. The Federal Reserve Bank says “in-migration” is drawing people to the state seeking work. Existing home sales have risen 33 percent since the beginning of the housing recovery just over two years ago.

(Image credit: city of Pecos, Texas)

Modular Homes go up Despite Obstacles

October 3rd, 2012 Comments off

WVPubCast tells MHProNews two new modular homes now dot Route 52 just outside Welch, West Virginia in the southwestern corner of the state. Penni Padgett, Housing Director of the Council of the Southern Mountains, notes it is a milestone. “It is a small start but it is a start,” she says. “These are the first new houses built on this side of the county in seven years.” With 70 percent of McDowell County’s housing considered substandard, according to a University of Pittsburgh study, the median value of the 14,000 homes in the county is $32,000, well below the national average of $188,000. The average median value in neighboring Mercer County is $73,000. The West Virginia Housing Development Fund provided the majority of the construction funding, but guidelines do not permit new homes in flood plains or in hollows, and the home has to be a certain distance from train tracks. Much of the county, Padgett says, is in a flood plain, and tracks are everywhere because this is coal country. The main obstacle, she says, is that 85 percent of the land in the county is owned by people or companies outside the state, making available land difficult to find. While qualified home-buyer applicants are being considered for the two new modular homes, Padgett is looking for land to site a third home.

(Image credit: Modular Homes Network)