Cavco Industries (NASDAQ:CVCO) Stock Price Up 5.7% – Should You Buy?

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price rose 5.7% during mid-day trading on Monday . The company traded as high as $544.08 and last traded at $542.31. Approximately 21,691 shares changed hands during trading, a decline of 66% from the average daily volume of 64,119 shares. The stock had previously closed at $512.91.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CVCO shares. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Wedbush raised their price objective on Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Finally, Craig Hallum upped their target price on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Cavco Industries Stock Performance

The firm’s fifty day simple moving average is $444.55 and its 200 day simple moving average is $400.17. The stock has a market capitalization of $4.18 billion, a P/E ratio of 29.29 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The business had revenue of $507.46 million for the quarter, compared to analysts’ expectations of $480.10 million. During the same period last year, the firm posted $4.76 earnings per share. Analysts anticipate that Cavco Industries, Inc. 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 the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $458.68, for a total transaction of $57,335.00. Following the completion of the transaction, the director now directly owns 2,861 shares in the company, valued at approximately $1,312,283.48. This represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Paul Bigbee sold 100 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total value of $51,223.00. Following the completion of the transaction, the chief accounting officer now owns 981 shares of the company’s stock, valued at $502,497.63. The trade was a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,313 shares of company stock valued at $1,780,681. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Cavco Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. increased its stake in shares of Cavco Industries by 9,900.0% in the second 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 period. Farther Finance Advisors LLC raised 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 worth $44,000 after purchasing an additional 82 shares during the last quarter. Avior Wealth Management LLC acquired a new position in Cavco Industries during the 3rd quarter worth about $64,000. GAMMA Investing LLC grew its position in shares of Cavco Industries by 30.2% in the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after buying an additional 64 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Cavco Industries in the second quarter valued at about $138,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

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.