Cavco Industries (NASDAQ:CVCO) Shares Down 0.8% – Here’s What Happened

Cavco Industries, Inc. (NASDAQ:CVCO) shares were down 0.8% during mid-day trading on Tuesday . The company traded as low as $475.17 and last traded at $475.94. Approximately 7,465 shares changed hands during trading, a decline of 88% from the average daily volume of 63,767 shares. The stock had previously closed at $479.76.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CVCO. StockNews.com cut shares of Cavco Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Wedbush cut shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target for the company. in a research report on Tuesday, December 3rd. Finally, Craig Hallum upped their target price on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th.

Cavco Industries Stock Performance

The company has a market cap of $3.84 billion, a price-to-earnings ratio of 26.90 and a beta of 1.29. The company’s 50 day moving average price is $465.09 and its 200-day moving average price is $414.09.

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

Insiders Place Their Bets

In other Cavco Industries news, Director Julia Sze sold 125 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $503.31, for a total value of $62,913.75. Following the transaction, the director now owns 2,736 shares of the company’s stock, valued at approximately $1,377,056.16. The trade was a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Paul Bigbee sold 100 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $512.23, for a total transaction of $51,223.00. Following the sale, the chief accounting officer now directly owns 981 shares in the company, valued at approximately $502,497.63. This represents a 9.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 350 shares of company stock valued at $171,472 in the last quarter. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in shares of Cavco Industries by 9,900.0% during the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after acquiring an additional 99 shares during the period. Farther Finance Advisors LLC lifted its position in Cavco Industries by 390.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock valued at $44,000 after purchasing an additional 82 shares during the period. Avior Wealth Management LLC acquired a new stake in shares of Cavco Industries during the 3rd quarter worth approximately $64,000. GAMMA Investing LLC raised its stake in shares of Cavco Industries by 30.2% during the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after buying an additional 64 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in Cavco Industries in the second quarter valued at approximately $138,000. 95.56% of the stock is currently owned by 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.