Cavco Industries (NASDAQ:CVCO) Stock Price Expected to Rise, Craig Hallum Analyst Says

Cavco Industries (NASDAQ:CVCO) had its price objective lifted by Craig Hallum from $422.00 to $495.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Separately, Wedbush boosted their price objective on 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 Stock Down 0.6 %

Shares of CVCO stock opened at $444.21 on Monday. The firm has a market cap of $3.67 billion, a P/E ratio of 25.11 and a beta of 1.24. The company has a 50 day moving average of $421.95 and a 200-day moving average of $387.93. Cavco Industries has a 12-month low of $250.75 and a 12-month high of $453.50.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.58. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The business had revenue of $507.46 million during the quarter, compared to the consensus estimate of $480.10 million. During the same period last year, the business posted $4.76 earnings per share. As a group, equities analysts expect that Cavco Industries will post 17.35 EPS for the current year.

Insider Activity at Cavco Industries

In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the sale, the director now owns 6,547 shares in the company, valued at $2,679,032.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Steven G. Bunger sold 4,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the sale, the director now directly owns 6,547 shares in the company, valued at $2,679,032.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction 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 $433,913.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CVCO. Assenagon Asset Management S.A. increased its stake in Cavco Industries by 1,610.3% in the 3rd 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 during the last quarter. Capital World Investors grew 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 worth $241,800,000 after purchasing an additional 17,125 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Cavco Industries by 147.0% in the third 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 during the last quarter. Edgestream Partners L.P. purchased a new stake in Cavco Industries in the second quarter valued at approximately $4,245,000. Finally, AYAL Capital Advisors Ltd lifted its position in Cavco Industries by 61.4% during the second quarter. AYAL Capital Advisors Ltd now owns 29,861 shares of the construction company’s stock valued at $10,337,000 after purchasing an additional 11,361 shares during the last quarter. Institutional investors 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.