StockNews.com cut shares of Cavco Industries (NASDAQ:CVCO - Free Report) from a buy rating to a hold rating in a research report sent to investors on Friday.
A number of other equities research analysts have also recently issued reports on CVCO. Wedbush cut shares of Cavco Industries from an "outperform" rating to a "neutral" rating and set a $480.00 target price for the company. in a research report on Tuesday, December 3rd. Craig Hallum upped their price objective 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.
Check Out Our Latest Report on Cavco Industries
Cavco Industries Trading Up 3.0 %
NASDAQ CVCO traded up $13.08 on Friday, reaching $455.30. The company's stock had a trading volume of 218,547 shares, compared to its average volume of 64,614. Cavco Industries has a 52 week low of $304.10 and a 52 week high of $544.08. The firm has a market cap of $3.69 billion, a PE ratio of 25.74 and a beta of 1.29. The business has a 50-day moving average price of $467.14 and a 200 day moving average price of $415.36.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) 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 analyst estimates of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same period in the prior year, the company posted $4.76 earnings per share. 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 the stock in a transaction that occurred 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 sale, the director now directly owns 2,861 shares of the company's stock, valued at $1,312,283.48. This represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Paul Bigbee sold 100 shares of the firm's 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 completion of the sale, the chief accounting officer now directly owns 981 shares of the company's stock, valued at approximately $502,497.63. This represents a 9.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,100 shares of company stock worth $535,642. Insiders own 1.60% of the company's stock.
Institutional Investors Weigh In On Cavco Industries
Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in Cavco Industries by 9,900.0% during the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company's stock worth $35,000 after purchasing an additional 99 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Cavco Industries by 390.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company's stock valued at $44,000 after acquiring an additional 82 shares during the period. Avior Wealth Management LLC acquired a new position in Cavco Industries during the third quarter valued at approximately $64,000. GAMMA Investing LLC increased 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 valued at $118,000 after purchasing an additional 64 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in Cavco Industries in the second quarter worth $138,000. 95.56% of the stock is owned by institutional investors and hedge funds.
About Cavco Industries
(
Get Free Report)
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.
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