Cavco Industries (NASDAQ:CVCO) Hits New 52-Week High – What’s Next?

Cavco Industries, Inc. (NASDAQ:CVCO) shares reached a new 52-week high during trading on Thursday . The company traded as high as $486.73 and last traded at $486.52, with a volume of 6433 shares. The stock had previously closed at $475.41.

Wall Street Analysts Forecast Growth

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

Cavco Industries Stock Performance

The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 27.38 and a beta of 1.24. The company has a 50-day moving average of $437.37 and a 200-day moving average of $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, beating the consensus estimate of $4.70 by $0.58. The firm had revenue of $507.46 million for the quarter, compared to analysts’ expectations of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same quarter in the previous year, the firm posted $4.76 EPS. As a group, equities research analysts forecast that Cavco Industries, Inc. will post 18 EPS for the current year.

Insider Activity at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total value of $35,323.20. Following the sale, the chief accounting officer now owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. The trade was a 7.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total value of $1,636,800.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 4,213 shares of company stock worth $1,729,458 in the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

Institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its stake in shares of Cavco Industries by 507.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,068 shares of the construction company’s stock worth $3,139,000 after acquiring an additional 7,576 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Cavco Industries by 37.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company’s stock worth $3,274,000 after acquiring an additional 2,558 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Cavco Industries during the 2nd quarter worth approximately $931,000. Blue Trust Inc. boosted its stake in shares of Cavco Industries by 90.0% during the 3rd quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock worth $81,000 after acquiring an additional 90 shares in the last quarter. Finally, Capital World Investors boosted its stake in shares of Cavco Industries by 2.9% during the 1st quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock worth $241,800,000 after acquiring an additional 17,125 shares in the last quarter. Hedge funds and other 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.