Cavco Industries (NASDAQ:CVCO) Trading 1.9% Higher – Should You Buy?

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price was up 1.9% during trading on Thursday . The stock traded as high as $486.73 and last traded at $484.42. Approximately 15,310 shares traded hands during trading, a decline of 76% from the average daily volume of 64,050 shares. The stock had previously closed at $475.41.

Analyst Ratings Changes

Several equities research analysts recently commented on CVCO shares. Wedbush lifted their price target on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Craig Hallum lifted their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, November 4th.

Cavco Industries Price Performance

The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 27.38 and a beta of 1.24. The business’s 50 day simple moving average is $437.37 and its 200 day simple moving average is $396.14.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly 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 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 period in the previous year, the business posted $4.76 earnings per share. As a group, analysts expect that Cavco Industries, Inc. will post 18 EPS for the current fiscal year.

Insider Transactions 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 shares were 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. This represents a 37.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Julia Sze sold 125 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was 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. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,213 shares of company stock valued at $1,729,458 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CVCO. SkyView Investment Advisors LLC increased its holdings in shares of Cavco Industries by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company’s stock worth $767,000 after acquiring an additional 31 shares during the period. Virtu Financial LLC acquired a new stake in shares of Cavco Industries in the 3rd quarter worth about $637,000. Coldstream Capital Management Inc. acquired a new stake in shares of Cavco Industries in the 3rd quarter worth about $213,000. Geode Capital Management LLC increased its holdings in shares of Cavco Industries by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock worth $96,107,000 after acquiring an additional 12,822 shares during the period. Finally, Barclays PLC increased its stake in Cavco Industries by 162.0% during the 3rd quarter. Barclays PLC now owns 17,234 shares of the construction company’s stock valued at $7,381,000 after buying an additional 10,656 shares during the period. 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.