Cavco Industries, Inc. (NASDAQ:CVCO) Shares Sold by West Coast Financial LLC

West Coast Financial LLC decreased its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 4.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,700 shares of the construction company’s stock after selling 74 shares during the quarter. West Coast Financial LLC’s holdings in Cavco Industries were worth $678,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Group One Trading L.P. purchased a new stake in Cavco Industries during the third quarter worth $26,000. Headinvest LLC acquired a new position in shares of Cavco Industries in the third quarter worth about $26,000. Mather Group LLC. purchased a new stake in shares of Cavco Industries during the 1st quarter worth about $60,000. GAMMA Investing LLC acquired a new stake in shares of Cavco Industries during the 4th quarter valued at about $77,000. Finally, Simplex Trading LLC purchased a new position in shares of Cavco Industries in the 4th quarter valued at about $140,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Stock Performance

Shares of CVCO traded down $10.01 during trading hours on Tuesday, hitting $346.48. 22,084 shares of the stock were exchanged, compared to its average volume of 64,922. The stock’s 50-day moving average price is $361.57 and its two-hundred day moving average price is $356.78. Cavco Industries, Inc. has a 12-month low of $233.84 and a 12-month high of $400.99. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 19.13 and a beta of 1.25.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, May 23rd. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.13 by ($1.10). The business had revenue of $420.12 million for the quarter, compared to analysts’ expectations of $499.50 million. Cavco Industries had a return on equity of 15.46% and a net margin of 8.79%. On average, research analysts expect that Cavco Industries, Inc. will post 19.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Wedbush upped their target price on Cavco Industries from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Monday, May 20th.

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.