Cavco Industries (NASDAQ:CVCO) Shares Up 0.8% – What’s Next?

Cavco Industries, Inc. (NASDAQ:CVCO) shares traded up 0.8% during trading on Monday . The company traded as high as $488.36 and last traded at $488.36. 6,579 shares traded hands during trading, a decline of 90% from the average session volume of 63,836 shares. The stock had previously closed at $484.66.

Wall Street Analysts Forecast Growth

CVCO has been the subject of several recent research reports. StockNews.com cut Cavco Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Craig Hallum raised their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Wedbush lowered Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target on the stock. in a report on Tuesday, December 3rd.

Cavco Industries Stock Performance

The firm’s 50-day moving average is $463.95 and its 200 day moving average is $413.21. The stock has a market cap of $3.89 billion, a PE ratio of 27.61 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, topping the consensus estimate of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The business had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. During the same period in the previous year, the firm earned $4.76 EPS. On average, sell-side analysts predict that Cavco Industries, Inc. will post 18 EPS for the current fiscal year.

Insider Activity

In other Cavco Industries news, Director Julia Sze sold 125 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $503.31, for a total transaction of $62,913.75. Following the sale, the director now directly owns 2,736 shares of the company’s stock, valued at approximately $1,377,056.16. This represents a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Paul Bigbee sold 100 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total value of $51,223.00. Following the completion of the sale, the chief accounting officer now owns 981 shares in the company, valued at $502,497.63. The trade was a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 350 shares of company stock valued at $171,472 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Cavco Industries

Several hedge funds and other institutional investors have recently made changes to their positions in CVCO. Verus Capital Partners LLC raised its stake in Cavco Industries by 4.5% during the 2nd quarter. Verus Capital Partners LLC now owns 653 shares of the construction company’s stock valued at $226,000 after acquiring an additional 28 shares in the last quarter. Amalgamated Bank lifted its holdings in Cavco Industries by 1.2% in the third quarter. Amalgamated Bank now owns 2,428 shares of the construction company’s stock worth $1,040,000 after purchasing an additional 29 shares during the period. SkyView Investment Advisors LLC boosted its holdings in shares of Cavco Industries by 1.8% in the third quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company’s stock valued at $767,000 after acquiring an additional 31 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Cavco Industries by 0.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 9,493 shares of the construction company’s stock valued at $4,066,000 after purchasing an additional 37 shares during the period. Finally, Arizona State Retirement System grew its holdings in Cavco Industries by 1.9% during the second quarter. Arizona State Retirement System now owns 2,103 shares of the construction company’s stock worth $728,000 after acquiring an additional 39 shares during the period. 95.56% of the stock is currently owned by institutional investors and hedge funds.

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.