Cavco Industries (NASDAQ:CVCO) Hits New 52-Week High - What's Next?

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $486.73 and last traded at $486.52, with a volume of 6433 shares. The stock had previously closed at $475.41.

Wall Street Analyst Weigh In

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

Cavco Industries Price Performance

The business has a 50-day simple moving average of $437.37 and a 200 day simple moving average of $396.14. The firm has a market cap of $4.00 billion, a PE ratio of 27.92 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $480.10 million. During the same quarter last year, the business earned $4.76 earnings per share. On average, equities analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Insider Activity at Cavco Industries

In other news, Director Julia Sze sold 125 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the completion of the transaction, the director now owns 2,861 shares of the company's stock, valued at $1,312,283.48. The trade was a 4.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Paul Bigbee sold 88 shares of the stock in a transaction dated 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 in the company, valued at approximately $433,913.40. The trade was a 7.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,213 shares of company stock worth $1,729,458 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Cavco Industries

A number of institutional investors and hedge funds have recently modified their holdings of CVCO. Blue Trust Inc. boosted its position 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 acquiring an additional 99 shares during the last quarter. Farther Finance Advisors LLC grew 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 purchased a new position in Cavco Industries in the 3rd quarter valued at $64,000. GAMMA Investing LLC raised its stake in shares of Cavco Industries by 30.2% during the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company's stock worth $118,000 after buying an additional 64 shares in 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. Hedge funds and other institutional investors 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.