Cavco Industries (NASDAQ:CVCO) Shares Down 1.3% – What’s Next?

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price traded down 1.3% on Wednesday . The company traded as low as $503.00 and last traded at $505.00. 6,903 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 64,139 shares. The stock had previously closed at $511.73.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Craig Hallum boosted their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the stock 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 report on Tuesday.

Cavco Industries Price Performance

The stock’s fifty day moving average price is $455.96 and its 200-day moving average price is $406.41. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 28.16 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The business had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. 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 EPS for the current fiscal year.

Insider Activity at Cavco Industries

In related news, CAO Paul Bigbee sold 88 shares of the business’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 transaction, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. The trade was a 7.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Julia Sze sold 125 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 2,861 shares in the company, valued at $1,312,283.48. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,313 shares of company stock valued at $1,780,681. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Cavco Industries

Several large investors have recently added to or reduced their stakes in CVCO. Assenagon Asset Management S.A. grew its position in Cavco Industries by 1,610.3% in the third 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 in the last quarter. Cerity Partners LLC boosted its holdings in shares of Cavco Industries by 91.8% during the 3rd quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock worth $20,091,000 after buying an additional 22,451 shares during the period. Atom Investors LP bought a new stake in shares of Cavco Industries during the 3rd quarter worth $7,572,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Cavco Industries by 147.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock worth $9,592,000 after buying an additional 13,331 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Cavco Industries by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock worth $96,107,000 after buying an additional 12,822 shares during the period. 95.56% of the stock is 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.