Cavco Industries (NASDAQ:CVCO) Hits New 1-Year High – What’s Next?

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $448.49 and last traded at $448.48, with a volume of 3337 shares changing hands. The stock had previously closed at $439.30.

Wall Street Analyst Weigh In

CVCO has been the topic of a number of analyst reports. Wedbush lifted their price objective on shares of 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 lifted their price target on shares of Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a report on Monday, August 5th.

Cavco Industries Price Performance

The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 24.28 and a beta of 1.24. The firm has a fifty day simple moving average of $413.12 and a two-hundred day simple moving average of $383.58.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share for the quarter, missing the consensus estimate of $4.97 by ($0.86). The company had revenue of $477.60 million for the quarter, compared to analysts’ expectations of $487.80 million. Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. During the same period in the prior year, the firm posted $5.29 EPS. Equities analysts anticipate that Cavco Industries, Inc. will post 17.35 earnings per share for the current fiscal year.

Insider Activity at Cavco Industries

In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction dated Thursday, September 12th. The stock was 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 owns 6,547 shares of the company’s stock, valued at approximately $2,679,032.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 6,547 shares of the company’s stock, valued at approximately $2,679,032.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction that occurred 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 sale, the chief accounting officer now owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,663 shares of company stock valued at $1,882,930 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

Several hedge funds have recently added to or reduced their stakes in CVCO. Blue Trust Inc. raised its stake in shares of Cavco Industries by 9,900.0% during the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after buying an additional 99 shares during the last quarter. Mather Group LLC. purchased a new position in Cavco Industries during the first quarter valued at approximately $60,000. GAMMA Investing LLC lifted its holdings in Cavco Industries by 30.2% in the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after acquiring an additional 64 shares during the period. nVerses Capital LLC purchased a new stake in Cavco Industries in the 2nd quarter worth approximately $138,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Cavco Industries during the 1st quarter worth approximately $197,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

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.