Cavco Industries (NASDAQ:CVCO) Trading Down 1% – Should You Sell?

Cavco Industries, Inc. (NASDAQ:CVCO) shares dropped 1% during trading on Thursday . The company traded as low as $513.49 and last traded at $515.86. Approximately 50,563 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 64,636 shares. The stock had previously closed at $521.23.

Analysts Set New Price Targets

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

Cavco Industries Trading Down 1.0 %

The company has a market capitalization of $4.18 billion, a PE ratio of 29.16 and a beta of 1.24. The business’s fifty day moving average is $446.39 and its two-hundred day moving average is $400.98.

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, topping the consensus estimate of $4.70 by $0.58. The firm had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same quarter in the previous year, the business earned $4.76 earnings per share. As a group, equities research analysts anticipate that Cavco Industries, Inc. will post 18 EPS for the current year.

Insider Buying and Selling

In other news, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the sale, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at $433,913.40. This represents a 7.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of the stock in a transaction 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 transaction, the director now owns 6,547 shares of the company’s stock, valued at $2,679,032.40. This trade represents a 37.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,313 shares of company stock worth $1,780,681. 1.60% of the stock is owned by insiders.

Institutional Trading of Cavco Industries

A number of institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its position 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 buying an additional 99 shares during the period. Farther Finance Advisors LLC lifted its holdings 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 buying an additional 82 shares in the last quarter. Avior Wealth Management LLC purchased a new stake in shares of Cavco Industries in the third quarter valued at approximately $64,000. GAMMA Investing LLC grew its stake in Cavco Industries by 30.2% in the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after purchasing an additional 64 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in Cavco Industries during the 2nd quarter worth $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.