Cavco Industries (NASDAQ:CVCO) Shares Down 1.3% – Time to Sell?

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price traded down 1.3% on Thursday . The company traded as low as $499.54 and last traded at $499.54. 7,037 shares changed hands during trading, a decline of 89% from the average session volume of 64,245 shares. The stock had previously closed at $506.07.

Analysts Set New Price Targets

Several research analysts have issued reports on CVCO shares. Wedbush lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target on the stock. in a research report on Tuesday. Craig Hallum lifted their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, November 4th.

Cavco Industries Trading Up 0.5 %

The stock has a market capitalization of $4.06 billion, a PE ratio of 28.30 and a beta of 1.29. The firm’s 50-day simple moving average is $457.34 and its two-hundred day simple moving average is $407.28.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The firm had revenue of $507.46 million for the quarter, compared to analysts’ expectations of $480.10 million. During the same period in the previous year, the company posted $4.76 EPS. As a group, research analysts expect that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Insiders Place Their Bets

In other Cavco Industries news, 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 sale, the chief accounting officer now owns 1,081 shares of the company’s stock, valued at $433,913.40. This trade represents a 7.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the completion of the sale, the director now directly owns 6,547 shares of the company’s stock, valued at approximately $2,679,032.40. The trade was a 37.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,313 shares of company stock worth $1,780,681. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of Cavco Industries by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock valued at $96,107,000 after purchasing an additional 12,822 shares during the last quarter. Boston Trust Walden Corp raised its holdings in Cavco Industries by 0.8% in the 2nd quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock worth $67,865,000 after acquiring an additional 1,541 shares during the period. FMR LLC raised its holdings in Cavco Industries by 7.0% in 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. raised 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 period. Finally, Fisher Asset Management LLC raised its holdings 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 worth $30,614,000 after acquiring an additional 5,620 shares during the period. Institutional investors and hedge funds own 95.56% of the company’s stock.

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.