Cavco Industries (NASDAQ:CVCO) Stock Price Up 1% – Here’s Why

Cavco Industries, Inc. (NASDAQ:CVCO) was up 1% during mid-day trading on Tuesday . The company traded as high as $523.37 and last traded at $519.43. Approximately 38,978 shares were traded during trading, a decline of 37% from the average daily volume of 61,656 shares. The stock had previously closed at $514.50.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CVCO shares. Wedbush lowered Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective for the company. in a report on Tuesday. Craig Hallum lifted their price target on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, November 4th.

Cavco Industries Price Performance

The stock has a market cap of $4.10 billion, a PE ratio of 28.61 and a beta of 1.29. The business has a 50 day moving average price of $454.52 and a two-hundred day moving average price of $405.76.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, topping 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 quarter last year, the business posted $4.76 EPS. On average, sell-side analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Paul Bigbee sold 88 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total value of $35,323.20. Following 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 7.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven G. Bunger sold 4,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 6,547 shares in the company, valued at $2,679,032.40. This trade represents a 37.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,313 shares of company stock worth $1,780,681. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Cavco Industries

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. increased its stake in shares of Cavco Industries by 9,900.0% in the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after purchasing an additional 99 shares in the last quarter. Farther Finance Advisors LLC grew its position in Cavco Industries by 390.5% in the third quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock worth $44,000 after acquiring an additional 82 shares in the last quarter. Avior Wealth Management LLC purchased a new position in Cavco Industries in the third quarter worth about $64,000. GAMMA Investing LLC boosted 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 worth $118,000 after purchasing an additional 64 shares during the period. Finally, nVerses Capital LLC purchased a new position in shares of Cavco Industries during the 2nd quarter worth about $138,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

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.