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

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price shot up 1.9% during trading on Friday . The stock traded as high as $509.92 and last traded at $503.56. 11,284 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 64,075 shares. The stock had previously closed at $493.96.

Analysts Set New Price Targets

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

Cavco Industries Stock Up 3.5 %

The company has a 50 day moving average of $438.93 and a 200 day moving average of $396.82. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 28.47 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last released its 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. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The company had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. During the same period in the prior year, the business posted $4.76 EPS. As a group, equities research analysts expect that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 6,547 shares of the company’s stock, valued at $2,679,032.40. This trade represents a 37.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Julia Sze sold 125 shares of Cavco Industries stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $458.68, for a total value of $57,335.00. Following the completion of the transaction, the director now owns 2,861 shares of the company’s stock, 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. Over the last three months, insiders sold 4,213 shares of company stock worth $1,729,458. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of Cavco Industries during the first quarter valued at $197,000. Russell Investments Group Ltd. lifted its position in Cavco Industries by 2.5% in the 1st quarter. Russell Investments Group Ltd. now owns 9,058 shares of the construction company’s stock valued at $3,615,000 after purchasing an additional 224 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in Cavco Industries during the 1st quarter valued at about $209,000. UniSuper Management Pty Ltd bought a new position in Cavco Industries in the 1st quarter worth about $720,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Cavco Industries by 6.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 6,775 shares of the construction company’s stock valued at $2,697,000 after purchasing an additional 437 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.