Cavco Industries (NASDAQ:CVCO) Reaches New 12-Month High – Time to Buy?

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) reached a new 52-week high during trading on Wednesday . The stock traded as high as $448.49 and last traded at $448.48, with a volume of 3337 shares changing hands. The stock had previously closed at $439.30.

Wall Street Analyst Weigh In

CVCO has been the subject of a number of analyst reports. Wedbush upped their price objective on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Craig Hallum lifted their price target on Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a research note on Monday, August 5th.

Cavco Industries Stock Performance

The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 24.28 and a beta of 1.24. The company has a 50 day moving average price of $413.12 and a two-hundred day moving average price of $383.58.

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

Insider Buying and Selling

In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the completion of the sale, the director now directly owns 6,547 shares in the company, valued at approximately $2,679,032.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Paul Bigbee sold 88 shares of Cavco Industries 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 sale, the chief accounting officer now directly owns 1,081 shares in the company, valued at approximately $433,913.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,663 shares of company stock worth $1,882,930 in the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Trading of Cavco Industries

Large investors have recently bought and sold shares of the business. Capital World Investors lifted its stake in Cavco Industries by 2.9% in the 1st quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock worth $241,800,000 after purchasing an additional 17,125 shares in the last quarter. Boston Trust Walden Corp lifted its position in Cavco Industries by 0.8% during the second quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock worth $67,865,000 after buying an additional 1,541 shares in the last quarter. Ashford Capital Management Inc. boosted its stake in Cavco Industries by 0.5% during the first quarter. Ashford Capital Management Inc. now owns 58,180 shares of the construction company’s stock worth $23,217,000 after buying an additional 310 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in Cavco Industries by 1.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 57,986 shares of the construction company’s stock valued at $24,832,000 after buying an additional 800 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its holdings in Cavco Industries by 9.0% in the 1st quarter. Kennedy Capital Management LLC now owns 48,031 shares of the construction company’s stock valued at $19,167,000 after buying an additional 3,975 shares in the last quarter. Hedge funds and other 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.