Cavco Industries (NASDAQ:CVCO) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Cavco Industries (NASDAQ:CVCO) from a hold rating to a buy rating in a research note released on Monday morning.

A number of other equities research analysts have also commented on the stock. Craig Hallum upped their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a report on Monday. Wedbush upped their price objective on shares of Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a research note on Friday, October 11th.

Cavco Industries Trading Down 0.9 %

CVCO opened at $458.85 on Monday. Cavco Industries has a 12 month low of $250.75 and a 12 month high of $468.13. The business’s 50-day moving average price is $425.34 and its 200-day moving average price is $389.64. The company has a market cap of $3.72 billion, a P/E ratio of 25.94 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.58. The business had revenue of $507.46 million for 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 firm earned $4.76 EPS. Equities research analysts forecast that Cavco Industries will post 17.35 earnings per share for the current fiscal year.

Insider Activity at Cavco Industries

In other news, CAO Paul Bigbee sold 88 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total value of $35,323.20. Following the completion of the sale, 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Paul Bigbee sold 88 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were 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 owns 6,547 shares of the company’s stock, valued at approximately $2,679,032.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Cavco Industries

A number of hedge funds and other institutional investors have recently modified their holdings of CVCO. Assenagon Asset Management S.A. boosted its stake in Cavco Industries by 1,610.3% during the third quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock worth $26,052,000 after acquiring an additional 57,278 shares in the last quarter. Capital World Investors lifted its holdings in shares of Cavco Industries by 2.9% during the first quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock valued at $241,800,000 after purchasing an additional 17,125 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Cavco Industries by 147.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock worth $9,592,000 after purchasing an additional 13,331 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Cavco Industries in the 2nd quarter worth approximately $4,245,000. Finally, AYAL Capital Advisors Ltd grew its stake in shares of Cavco Industries by 61.4% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 29,861 shares of the construction company’s stock worth $10,337,000 after buying an additional 11,361 shares during 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.