Cavco Industries (NASDAQ:CVCO) Shares Down 0.8% – Here’s Why

Cavco Industries, Inc. (NASDAQ:CVCO) fell 0.8% during trading on Tuesday . The company traded as low as $475.17 and last traded at $475.94. 7,465 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 63,767 shares. The stock had previously closed at $479.76.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CVCO shares. Craig Hallum boosted their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Wedbush lowered Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target on the stock. in a research report on Tuesday, December 3rd. Finally, StockNews.com lowered shares of Cavco Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th.

Cavco Industries Stock Performance

The business has a 50-day simple moving average of $465.09 and a two-hundred day simple moving average of $414.09. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 26.90 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.70 by $0.58. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The business had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. During the same period last year, the firm earned $4.76 EPS. Research analysts predict that Cavco Industries, Inc. will post 18 EPS for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In related news, CAO Paul Bigbee sold 100 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total transaction of $51,223.00. Following the sale, the chief accounting officer now owns 981 shares in the company, valued at approximately $502,497.63. This trade represents a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Julia Sze sold 125 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $458.68, for a total value of $57,335.00. Following the completion of the transaction, the director now owns 2,861 shares of the company’s stock, valued at $1,312,283.48. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 350 shares of company stock valued at $171,472 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

Several hedge funds have recently made changes to their positions in CVCO. Blue Trust Inc. lifted its holdings in shares of Cavco Industries by 9,900.0% during the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after acquiring an additional 99 shares during the period. Farther Finance Advisors LLC raised its stake in Cavco Industries by 390.5% during the third quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock worth $44,000 after purchasing an additional 82 shares during the period. Avior Wealth Management LLC acquired a new position in shares of Cavco Industries in the 3rd quarter valued at $64,000. GAMMA Investing LLC grew its stake in shares of Cavco Industries by 30.2% during the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after buying an additional 64 shares during the period. Finally, nVerses Capital LLC purchased a new stake in shares of Cavco Industries during the 2nd quarter valued at $138,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cavco Industries Company Profile

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.