Cavco Industries (NASDAQ:CVCO) Trading Up 0.3% – Here’s Why

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) traded up 0.3% on Wednesday . The stock traded as high as $476.99 and last traded at $474.72. 8,586 shares traded hands during trading, a decline of 87% from the average session volume of 63,763 shares. The stock had previously closed at $473.29.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. StockNews.com downgraded Cavco Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Craig Hallum upped their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Wedbush downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 target price on the stock. in a research report on Tuesday, December 3rd.

Cavco Industries Trading Down 2.2 %

The company has a fifty day moving average price of $466.09 and a two-hundred day moving average price of $414.91. The firm has a market capitalization of $3.75 billion, a PE ratio of 26.17 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business earned $4.76 earnings per share. As a group, equities research analysts predict that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Susan L. Blount sold 750 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $485.56, for a total transaction of $364,170.00. Following the completion of the sale, the director now directly owns 2,086 shares of the company’s stock, valued at $1,012,878.16. This trade represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Julia Sze sold 125 shares of Cavco Industries stock in a transaction on Friday, November 8th. The shares were sold at an average price of $458.68, for a total transaction of $57,335.00. Following the completion of the transaction, the director now owns 2,861 shares in the company, valued at approximately $1,312,283.48. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,100 shares of company stock worth $535,642 in the last 90 days. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Cavco Industries

Several hedge funds have recently made changes to their positions in CVCO. Blue Trust Inc. boosted its stake in shares of Cavco Industries by 9,900.0% in the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after buying an additional 99 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Cavco Industries by 390.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock valued at $44,000 after purchasing an additional 82 shares in the last quarter. Avior Wealth Management LLC purchased a new stake in Cavco Industries during the third quarter worth about $64,000. GAMMA Investing LLC grew its position in Cavco Industries by 30.2% during the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after buying an additional 64 shares during the period. Finally, nVerses Capital LLC acquired a new position in Cavco Industries during the second quarter worth about $138,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

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.