Cavco Industries (NASDAQ:CVCO) Earns Neutral Rating from Wedbush

Cavco Industries (NASDAQ:CVCO)‘s stock had its “neutral” rating reissued by investment analysts at Wedbush in a research note issued to investors on Monday,RTT News reports. They presently have a $550.00 price objective on the construction company’s stock, up from their previous price objective of $480.00. Wedbush’s price objective would suggest a potential upside of 6.10% from the company’s current price.

A number of other analysts also recently issued reports on CVCO. Craig Hallum raised their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a report on Monday, November 4th. StockNews.com downgraded shares of Cavco Industries from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

Cavco Industries Price Performance

Cavco Industries stock traded up $9.73 during mid-day trading on Monday, reaching $518.37. The stock had a trading volume of 8,214 shares, compared to its average volume of 54,900. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 25.51 and a beta of 1.35. The company has a 50-day moving average price of $473.70 and a two-hundred day moving average price of $438.71. Cavco Industries has a one year low of $331.08 and a one year high of $544.08.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.25%. On average, equities research analysts anticipate that Cavco Industries will post 18 earnings per share for the current fiscal year.

Insider Transactions at Cavco Industries

In other news, Director Julia Sze sold 125 shares of Cavco Industries stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $503.31, for a total transaction of $62,913.75. Following the sale, the director now owns 2,736 shares in the company, valued at $1,377,056.16. This trade represents a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Paul Bigbee sold 100 shares of Cavco Industries stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total transaction of $51,223.00. Following the sale, the chief accounting officer now owns 981 shares in the company, valued at approximately $502,497.63. The trade was a 9.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,850 shares of company stock worth $889,417 in the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Truist Financial Corp grew its holdings in shares of Cavco Industries by 0.8% in the fourth quarter. Truist Financial Corp now owns 12,293 shares of the construction company’s stock valued at $5,486,000 after purchasing an additional 96 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Cavco Industries by 1.9% in the fourth quarter. Principal Financial Group Inc. now owns 42,123 shares of the construction company’s stock valued at $18,797,000 after purchasing an additional 790 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in shares of Cavco Industries in the fourth quarter valued at $425,000. Marks Group Wealth Management Inc grew its holdings in shares of Cavco Industries by 0.8% in the fourth quarter. Marks Group Wealth Management Inc now owns 11,226 shares of the construction company’s stock valued at $5,009,000 after purchasing an additional 89 shares in the last quarter. Finally, Westbourne Investment Advisors Inc. grew its holdings in shares of Cavco Industries by 1,656.3% in the fourth quarter. Westbourne Investment Advisors Inc. now owns 12,733 shares of the construction company’s stock valued at $5,682,000 after purchasing an additional 12,008 shares in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

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.