Cavco Industries (NASDAQ:CVCO) Trading 5.7% Higher – Still a Buy?

Cavco Industries, Inc. (NASDAQ:CVCO) shot up 5.7% during trading on Monday . The stock traded as high as $544.08 and last traded at $542.31. 21,691 shares traded hands during trading, a decline of 66% from the average session volume of 64,119 shares. The stock had previously closed at $512.91.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wedbush upped their target price on Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Craig Hallum upped their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th.

Cavco Industries Stock Up 4.0 %

The firm has a 50 day moving average price of $440.64 and a 200 day moving average price of $398.05. The stock has a market capitalization of $4.32 billion, a PE ratio of 30.66 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The company had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. During the same period last year, the firm earned $4.76 earnings per share. On average, equities analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Julia Sze sold 125 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $458.68, for a total transaction of $57,335.00. Following the completion of the transaction, the director now owns 2,861 shares in the company, valued at approximately $1,312,283.48. This represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Paul Bigbee sold 88 shares of Cavco Industries 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 completion of the sale, the chief accounting officer now directly owns 1,081 shares in the company, valued at approximately $433,913.40. This represents a 7.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,213 shares of company stock valued at $1,729,458 in the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cavco Industries

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its position 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 worth $96,107,000 after buying an additional 12,822 shares during the last quarter. Boston Trust Walden Corp lifted its position in shares of Cavco Industries by 0.8% during the 2nd quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock valued at $67,865,000 after buying an additional 1,541 shares during the last quarter. FMR LLC grew its stake in shares of Cavco Industries by 7.0% during the 3rd quarter. FMR LLC now owns 135,444 shares of the construction company’s stock worth $58,002,000 after acquiring an additional 8,829 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Cavco Industries by 5.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company’s stock worth $46,872,000 after acquiring an additional 5,935 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Cavco Industries by 8.5% in the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock valued at $30,614,000 after acquiring an additional 5,620 shares during the period. 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.