Cavco Industries (NASDAQ:CVCO) Trading 1.9% Higher – Here’s What Happened

Cavco Industries, Inc. (NASDAQ:CVCO) was up 1.9% during trading on Thursday . The stock traded as high as $486.73 and last traded at $484.42. Approximately 15,310 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 64,050 shares. The stock had previously closed at $475.41.

Analyst Ratings Changes

Several equities research analysts have recently commented on CVCO shares. Craig Hallum increased their price objective on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a report on Monday, November 4th. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Wedbush raised their price target on Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a report on Friday, October 11th.

Cavco Industries Stock Performance

The firm has a fifty day simple moving average of $438.93 and a 200-day simple moving average of $396.82. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 28.99 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.58. The business had revenue of $507.46 million during the quarter, compared to the consensus estimate of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same quarter last year, the firm posted $4.76 EPS. Analysts expect that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the transaction, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. This trade represents a 7.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven G. Bunger sold 4,000 shares of the firm’s stock in a transaction on 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 owns 6,547 shares in the company, valued at $2,679,032.40. The trade was a 37.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,213 shares of company stock worth $1,729,458 in the last 90 days. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CVCO. O Shaughnessy Asset Management LLC bought a new position in shares of Cavco Industries in the first quarter worth $209,000. UniSuper Management Pty Ltd bought a new position in Cavco Industries in the first quarter valued at about $720,000. CANADA LIFE ASSURANCE Co grew its position in Cavco Industries by 6.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 6,775 shares of the construction company’s stock valued at $2,697,000 after acquiring an additional 437 shares during the last quarter. Robotti Robert grew its position in Cavco Industries by 0.3% in the first quarter. Robotti Robert now owns 42,883 shares of the construction company’s stock valued at $17,113,000 after acquiring an additional 129 shares during the last quarter. Finally, Ashford Capital Management Inc. grew its position in Cavco Industries by 0.5% in the first quarter. Ashford Capital Management Inc. now owns 58,180 shares of the construction company’s stock valued at $23,217,000 after acquiring an additional 310 shares during the last quarter. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Company Profile

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.