Cavco Industries (NASDAQ:CVCO) Reaches New 12-Month High – Still a Buy?

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $448.49 and last traded at $448.48, with a volume of 3337 shares trading hands. The stock had previously closed at $439.30.

Analyst Ratings Changes

A number of research analysts have issued reports on CVCO shares. Craig Hallum upped their price objective on Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Wedbush upped their price objective on 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 Performance

The stock has a market cap of $3.73 billion, a P/E ratio of 24.54 and a beta of 1.24. The business has a 50 day simple moving average of $409.80 and a 200-day simple moving average of $382.68.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share for the quarter, missing the consensus estimate of $4.97 by ($0.86). The firm had revenue of $477.60 million for the quarter, compared to the consensus estimate of $487.80 million. Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. During the same quarter in the previous year, the company posted $5.29 EPS. On average, sell-side analysts predict that Cavco Industries, Inc. will post 17.35 earnings per share for the current fiscal year.

Insider Activity at Cavco Industries

In related news, CAO Paul Bigbee sold 88 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Steven G. Bunger sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 6,547 shares in the company, valued at $2,679,032.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the chief accounting officer now owns 1,081 shares in the company, valued at approximately $433,913.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,663 shares of company stock valued at $1,882,930. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

A number of large investors have recently made changes to their positions in CVCO. Harbor Capital Advisors Inc. boosted its position in shares of Cavco Industries by 507.8% during the second quarter. Harbor Capital Advisors Inc. now owns 9,068 shares of the construction company’s stock valued at $3,139,000 after purchasing an additional 7,576 shares in the last quarter. First Eagle Investment Management LLC raised its stake in Cavco Industries by 28.8% during the first quarter. First Eagle Investment Management LLC now owns 12,328 shares of the construction company’s stock valued at $4,920,000 after buying an additional 2,760 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Cavco Industries by 37.1% during 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. Bessemer Group Inc. raised its stake in Cavco Industries by 7.1% during the first quarter. Bessemer Group Inc. now owns 34,252 shares of the construction company’s stock valued at $13,668,000 after buying an additional 2,263 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Cavco Industries during the second quarter valued at $931,000. 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.