Cavco Industries (NASDAQ:CVCO) Shares Up 0.7% – Still a Buy?

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price rose 0.7% during mid-day trading on Monday . The company traded as high as $507.00 and last traded at $504.15. Approximately 6,652 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 64,000 shares. The stock had previously closed at $500.64.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CVCO shares. StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Craig Hallum lifted their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Wedbush lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 target price on the stock. in a research note on Tuesday, December 3rd.

Cavco Industries Price Performance

The firm has a fifty day simple moving average of $457.34 and a 200-day simple moving average of $407.97. The firm has a market cap of $4.08 billion, a P/E ratio of 28.50 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, topping 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 return on equity of 14.38% and a net margin of 8.00%. During the same period last year, the business earned $4.76 EPS. On average, equities analysts predict that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Insider Buying and Selling at Cavco Industries

In other 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 value of $1,636,800.00. Following the transaction, the director now owns 6,547 shares in the company, valued at $2,679,032.40. This trade represents a 37.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Julia Sze sold 125 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the sale, the director now owns 2,861 shares of the company’s stock, valued at $1,312,283.48. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,313 shares of company stock valued at $1,780,681. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Cavco Industries

Several institutional investors have recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Cavco Industries by 9,900.0% during the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after purchasing an additional 99 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Cavco Industries by 390.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock valued at $44,000 after buying an additional 82 shares during the last quarter. Avior Wealth Management LLC bought a new position in shares of Cavco Industries during the 3rd quarter worth approximately $64,000. GAMMA Investing LLC lifted its position in shares of Cavco Industries by 30.2% during the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after buying an additional 64 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of Cavco Industries in the 2nd quarter worth approximately $138,000. 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.