Cavco Industries (NASDAQ:CVCO) Trading Down 0.8% - What's Next?

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report)'s stock price traded down 0.8% during trading on Tuesday . The stock traded as low as $475.17 and last traded at $475.94. 7,465 shares traded hands during trading, a decline of 88% from the average session volume of 63,767 shares. The stock had previously closed at $479.76.

Analyst Upgrades and Downgrades

CVCO has been the topic of a number of recent analyst reports. Wedbush downgraded shares of Cavco Industries from an "outperform" rating to a "neutral" rating and set a $480.00 price objective for the company. in a research note on Tuesday, December 3rd. Craig Hallum raised their price target on Cavco Industries from $422.00 to $495.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Finally, StockNews.com cut Cavco Industries from a "buy" rating to a "hold" rating in a report on Wednesday, December 11th.

Cavco Industries Trading Down 1.3 %

The company has a market capitalization of $3.84 billion, a PE ratio of 26.90 and a beta of 1.29. The firm's 50-day simple moving average is $465.09 and its 200-day simple moving average is $414.09.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced 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 company had revenue of $507.46 million for 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 prior year, the firm earned $4.76 earnings per share. As a group, analysts anticipate that Cavco Industries, Inc. will post 18 EPS for the current year.

Insider Activity

In other Cavco Industries news, Director Julia Sze sold 125 shares of the stock in a transaction dated 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 sale, the director now directly owns 2,861 shares of the company's stock, valued at approximately $1,312,283.48. This represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan L. Blount sold 750 shares of the firm's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $485.56, for a total transaction of $364,170.00. Following the completion of the sale, the director now owns 2,086 shares in the company, valued at $1,012,878.16. This represents a 26.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,100 shares of company stock worth $535,642. Corporate insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Cavco Industries

Several institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its position in shares of Cavco Industries by 1,610.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company's stock worth $26,052,000 after purchasing an additional 57,278 shares in the last quarter. Cerity Partners LLC raised its stake in Cavco Industries by 91.8% in the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company's stock valued at $20,091,000 after buying an additional 22,451 shares during the last quarter. Atom Investors LP acquired a new stake in Cavco Industries in the third quarter worth about $7,572,000. Harbor Capital Advisors Inc. grew its stake in shares of Cavco Industries by 147.0% during the third quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company's stock worth $9,592,000 after acquiring an additional 13,331 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Cavco Industries by 6.1% during the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company's stock valued at $96,107,000 after acquiring an additional 12,822 shares in the last quarter. 95.56% of the stock is owned by hedge funds and other 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.