Cavco Industries (NASDAQ:CVCO) Reaches New 1-Year High - Should You Buy?

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $484.00 and last traded at $484.00, with a volume of 212 shares traded. The stock had previously closed at $475.98.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com raised shares of Cavco Industries from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Wedbush lifted their target price on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an "outperform" rating in a research report 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 report on Monday, November 4th.

Cavco Industries Stock Up 1.2 %

The stock has a 50-day simple moving average of $426.59 and a 200-day simple moving average of $390.72. The firm has a market capitalization of $3.91 billion, a PE ratio of 27.07 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, topping analysts' consensus estimates of $4.70 by $0.58. The business had revenue of $507.46 million for 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 earned $4.76 EPS. Equities analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Insider Activity at Cavco Industries

In related news, CAO Paul Bigbee sold 88 shares of the company's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total value 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $409.20, for a total value of $1,636,800.00. Following the completion of the sale, the director now owns 6,547 shares of the company's stock, valued at $2,679,032.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Paul Bigbee sold 88 shares of the business's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the sale, the chief accounting officer now owns 1,081 shares of the company's stock, valued at approximately $433,913.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cavco Industries

Several hedge funds and other institutional investors have recently bought and sold shares of CVCO. Blue Trust Inc. boosted its position in Cavco Industries by 9,900.0% in 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 in the last quarter. Farther Finance Advisors LLC grew its position in shares of 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 acquiring an additional 82 shares during the period. Avior Wealth Management LLC acquired a new position in shares of Cavco Industries during the 3rd quarter worth approximately $64,000. GAMMA Investing LLC grew its position in shares of 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 during the period. Finally, nVerses Capital LLC purchased a new stake in shares of Cavco Industries during the second quarter worth 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.