Cavco Industries, Inc. (NASDAQ:CVCO) Sees Large Drop in Short Interest

Cavco Industries, Inc. (NASDAQ:CVCO) saw a large decrease in short interest in November. As of November 15th, there was short interest totalling 150,300 shares, a decrease of 7.7% from the October 31st total of 162,900 shares. Based on an average daily volume of 63,400 shares, the short-interest ratio is currently 2.4 days. Approximately 2.0% of the company’s shares are short sold.

Cavco Industries Trading Up 1.0 %

Shares of Cavco Industries stock traded up $4.93 on Monday, reaching $519.43. 38,978 shares of the company were exchanged, compared to its average volume of 64,356. Cavco Industries has a fifty-two week low of $288.57 and a fifty-two week high of $544.08. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 29.36 and a beta of 1.24. The stock has a fifty day moving average price of $449.40 and a 200-day moving average price of $403.05.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share 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 firm 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 earnings per share. On average, equities analysts anticipate that Cavco Industries will post 18 earnings per share for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In related news, CAO Paul Bigbee sold 100 shares of the business’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 value of $51,223.00. Following the completion of the sale, the chief accounting officer now directly owns 981 shares in the company, valued at approximately $502,497.63. The trade was a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julia Sze sold 125 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $458.68, for a total transaction of $57,335.00. Following the sale, the director now directly owns 2,861 shares of the company’s stock, valued at approximately $1,312,283.48. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,313 shares of company stock worth $1,780,681. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Cavco Industries

Several large investors have recently added to or reduced their stakes in CVCO. Harbor Capital Advisors Inc. raised its position in shares of Cavco Industries by 507.8% in the second quarter. Harbor Capital Advisors Inc. now owns 9,068 shares of the construction company’s stock valued at $3,139,000 after purchasing an additional 7,576 shares during the period. Thrivent Financial for Lutherans raised its holdings in Cavco Industries by 37.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company’s stock worth $3,274,000 after acquiring an additional 2,558 shares during the period. Quest Partners LLC acquired a new position in Cavco Industries during the 2nd quarter worth $931,000. Blue Trust Inc. boosted its holdings in Cavco Industries by 90.0% during the third quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock valued at $81,000 after acquiring an additional 90 shares during the period. Finally, Cerity Partners LLC grew its position in shares of Cavco Industries by 91.8% in the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock valued at $20,091,000 after purchasing an additional 22,451 shares during the last quarter. 95.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CVCO shares. StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Wedbush upped their target price on Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Finally, Craig Hallum increased their target price on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th.

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.