Cavco Industries (NASDAQ:CVCO) Sets New 1-Year High at $429.09

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $429.09 and last traded at $429.09, with a volume of 4995 shares trading hands. The stock had previously closed at $415.90.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CVCO shares. Wedbush restated an “outperform” rating and set a $425.00 price target on shares of Cavco Industries in a research note on Friday, August 2nd. Craig Hallum boosted their price target on Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a report on Monday, August 5th.

Cavco Industries Trading Up 2.3 %

The company’s 50-day moving average is $389.89 and its 200-day moving average is $374.45. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 22.66 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share for the quarter, missing the consensus estimate of $4.97 by ($0.86). Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. The company had revenue of $477.60 million during the quarter, compared to analyst estimates of $487.80 million. During the same period in the previous year, the company posted $5.29 EPS. Equities research analysts forecast that Cavco Industries, Inc. will post 17.35 EPS for the current year.

Insider Buying and Selling

In other news, CAO Paul Bigbee sold 88 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total value of $35,323.20. Following the transaction, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the sale, the chief accounting officer now owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Steven K. Like sold 575 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total value of $210,806.50. Following the sale, the senior vice president now directly owns 1,255 shares in the company, valued at $460,108.10. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Cavco Industries

A number of institutional investors have recently modified their holdings of the company. Blue Trust Inc. grew its position in Cavco Industries by 9,900.0% during the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after purchasing an additional 99 shares during the period. Mather Group LLC. acquired a new position in shares of Cavco Industries in the 1st quarter valued at $60,000. nVerses Capital LLC acquired a new stake in shares of Cavco Industries in the second quarter valued at $138,000. SG Americas Securities LLC purchased a new position in shares of Cavco Industries in the 1st quarter valued at about $197,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of Cavco Industries in the 1st quarter valued at about $209,000. 95.56% of the stock is currently owned by institutional investors.

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.