Cavco Industries, Inc. (NASDAQ:CVCO) Director Sells $1,636,800.00 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) 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 transaction of $1,636,800.00. Following the transaction, the director now directly owns 6,547 shares in the company, valued at $2,679,032.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Cavco Industries Stock Down 1.8 %

Shares of Cavco Industries stock opened at $424.03 on Thursday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 23.11 and a beta of 1.24. Cavco Industries, Inc. has a 52-week low of $233.84 and a 52-week high of $437.02. The company’s 50-day simple moving average is $396.63 and its 200-day simple moving average is $376.08.

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

Institutional Investors Weigh In On Cavco Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital World Investors boosted its position in 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. Boston Trust Walden Corp boosted its position in shares of Cavco Industries by 0.8% in the 2nd quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock worth $67,865,000 after buying an additional 1,541 shares in the last quarter. Norges Bank acquired a new stake in Cavco Industries in the 4th quarter valued at about $21,059,000. Ashford Capital Management Inc. increased its holdings in Cavco Industries by 0.5% during the 1st 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 in the last quarter. Finally, Kennedy Capital Management LLC raised its position in Cavco Industries by 9.0% during the first quarter. Kennedy Capital Management LLC now owns 48,031 shares of the construction company’s stock worth $19,167,000 after acquiring an additional 3,975 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CVCO shares. Craig Hallum raised their price target on Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a report on Monday, August 5th. 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.

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.