Cavco Industries (NASDAQ:CVCO) Trading Up 0.8% – Here’s Why

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

Analysts Set New Price Targets

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

Cavco Industries Trading Down 1.0 %

The company has a market capitalization of $3.89 billion, a P/E ratio of 27.61 and a beta of 1.29. The company’s fifty day moving average is $463.95 and its 200 day moving average is $413.21.

Cavco Industries (NASDAQ:CVCO) last announced 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. The company had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same period in the previous year, the business earned $4.76 earnings per share. Equities research analysts predict that Cavco Industries, Inc. will post 18 EPS for the current year.

Insider Activity at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 100 shares of the firm’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 transaction of $51,223.00. Following the completion of the transaction, the chief accounting officer now owns 981 shares of the company’s stock, valued at approximately $502,497.63. This trade represents a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julia Sze sold 125 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $503.31, for a total transaction of $62,913.75. Following the completion of the transaction, the director now owns 2,736 shares of the company’s stock, valued at approximately $1,377,056.16. The trade was a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 350 shares of company stock valued at $171,472. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CVCO. Assenagon Asset Management S.A. raised its holdings in Cavco Industries by 1,610.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock valued at $26,052,000 after buying an additional 57,278 shares during the period. Cerity Partners LLC boosted its holdings 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 period. Atom Investors LP bought a new stake in shares of Cavco Industries in the 3rd quarter valued at about $7,572,000. Harbor Capital Advisors Inc. boosted its position in Cavco Industries by 147.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock valued at $9,592,000 after acquiring an additional 13,331 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Cavco Industries by 6.1% during the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock valued at $96,107,000 after purchasing an additional 12,822 shares in the last quarter. 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.