Cavco Industries (NASDAQ:CVCO) Trading Down 0.1% – What’s Next?

Cavco Industries, Inc. (NASDAQ:CVCO)’s share price dropped 0.1% during mid-day trading on Monday . The company traded as low as $513.47 and last traded at $514.18. Approximately 5,835 shares changed hands during trading, a decline of 91% from the average daily volume of 64,208 shares. The stock had previously closed at $514.50.

Analysts Set New Price Targets

CVCO has been the subject of a number of analyst reports. 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. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Wedbush lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective for the company. in a report on Tuesday.

Cavco Industries Stock Down 1.1 %

The stock’s 50-day simple moving average is $452.84 and its 200 day simple moving average is $405.06. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 28.55 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. The company had revenue of $507.46 million for the quarter, compared to analysts’ expectations of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same quarter in the prior year, the company posted $4.76 earnings per share. On average, sell-side analysts expect that Cavco Industries, Inc. will post 18 EPS for the current fiscal year.

Insider Activity at Cavco Industries

In other news, Director Julia Sze sold 125 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $458.68, for a total transaction of $57,335.00. Following the transaction, the director now directly owns 2,861 shares in the company, valued at approximately $1,312,283.48. This trade represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the transaction, the chief accounting officer now owns 1,081 shares in the company, valued at approximately $433,913.40. This trade represents a 7.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,313 shares of company stock valued at $1,780,681 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cavco Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SkyView Investment Advisors LLC grew its position in Cavco Industries by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company’s stock valued at $767,000 after buying an additional 31 shares during the last quarter. Virtu Financial LLC acquired a new stake in Cavco Industries in the third quarter valued at $637,000. Coldstream Capital Management Inc. acquired a new stake in Cavco Industries in the third quarter valued at $213,000. Geode Capital Management LLC lifted its holdings in Cavco Industries by 6.1% in the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock valued at $96,107,000 after acquiring an additional 12,822 shares during the period. Finally, Barclays PLC lifted its holdings in Cavco Industries by 162.0% in the third quarter. Barclays PLC now owns 17,234 shares of the construction company’s stock valued at $7,381,000 after acquiring an additional 10,656 shares during the period. 95.56% of the stock is currently owned by hedge funds and other 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.