Cavco Industries (NASDAQ:CVCO) Stock Price Up 1% – Here’s What Happened

Cavco Industries, Inc. (NASDAQ:CVCO)’s share price was up 1% during mid-day trading on Tuesday . The company traded as high as $523.37 and last traded at $519.43. Approximately 38,978 shares were traded during trading, a decline of 37% from the average daily volume of 61,656 shares. The stock had previously closed at $514.50.

Analyst Ratings Changes

A number of research firms recently weighed in on CVCO. StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Wedbush lowered Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target on the stock. in a report on Tuesday. Finally, Craig Hallum upped their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a report on Monday, November 4th.

Cavco Industries Price Performance

The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 29.36 and a beta of 1.29. The business has a fifty day moving average of $451.18 and a 200 day moving average of $404.09.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.70 by $0.58. The business had revenue of $507.46 million for the quarter, compared to analyst estimates 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 prior year, the company posted $4.76 EPS. On average, equities research analysts expect that Cavco Industries, Inc. will post 18 EPS for the current year.

Insider Buying and Selling at Cavco Industries

In related news, Director Steven G. Bunger sold 4,000 shares of the firm’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 completion of the transaction, the director now directly owns 6,547 shares in the company, valued at $2,679,032.40. This trade represents a 37.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Julia Sze sold 125 shares of the business’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 sale, the director now owns 2,861 shares in the company, valued at $1,312,283.48. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,313 shares of company stock worth $1,780,681 over the last three months. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Cavco Industries

Institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. grew its holdings in 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 increased its holdings in Cavco Industries by 37.1% in the second quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company’s stock valued at $3,274,000 after buying an additional 2,558 shares during the last quarter. Quest Partners LLC acquired a new stake in Cavco Industries in the second quarter valued at $931,000. Blue Trust Inc. lifted its holdings in 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 buying an additional 90 shares during the last quarter. Finally, Cerity Partners LLC boosted its position 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 acquiring an additional 22,451 shares in the last quarter. Institutional investors and hedge funds 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.