Cavco Industries (NASDAQ:CVCO) Price Target Increased to $455.00 by Analysts at Wedbush

Cavco Industries (NASDAQ:CVCO) had its price target upped by research analysts at Wedbush from $425.00 to $455.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Wedbush’s price target indicates a potential upside of 7.78% from the company’s current price.

Separately, Craig Hallum raised their price target on Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a report on Monday, August 5th.

Cavco Industries Trading Up 1.0 %

Shares of CVCO stock opened at $422.17 on Friday. The company has a market cap of $3.49 billion, a PE ratio of 23.01 and a beta of 1.24. The company’s fifty day simple moving average is $406.87 and its 200-day simple moving average is $382.23. Cavco Industries has a 52 week low of $233.84 and a 52 week high of $444.90.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 EPS for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. The firm had revenue of $477.60 million during the quarter, compared to analyst estimates of $487.80 million. During the same quarter last year, the business posted $5.29 earnings per share. Equities research analysts expect that Cavco Industries will post 17.35 EPS for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In related news, Director Steven G. Bunger sold 4,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $409.20, for a total value of $1,636,800.00. Following the completion of the transaction, the director now owns 6,547 shares in the company, valued at $2,679,032.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the transaction, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total value of $1,636,800.00. Following the transaction, the director now owns 6,547 shares in the company, valued at approximately $2,679,032.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,663 shares of company stock valued at $1,882,930 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CVCO. Blue Trust Inc. lifted its holdings in Cavco Industries by 9,900.0% in the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after acquiring an additional 99 shares during the last quarter. Mather Group LLC. bought a new stake in Cavco Industries during the first quarter worth approximately $60,000. GAMMA Investing LLC grew its position in Cavco Industries by 30.2% in the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after buying an additional 64 shares during the last quarter. nVerses Capital LLC acquired a new position in Cavco Industries in the second quarter worth approximately $138,000. Finally, SG Americas Securities LLC bought a new position in shares of Cavco Industries in the first quarter valued at $197,000. Institutional investors own 95.56% of the company’s stock.

About Cavco Industries

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.