Shares of Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) traded up 0.3% on Wednesday . The company traded as high as $476.99 and last traded at $474.72. 8,586 shares were traded during mid-day trading, a decline of 87% from the average session volume of 63,763 shares. The stock had previously closed at $473.29.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. 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. Wedbush downgraded shares of Cavco Industries from an "outperform" rating to a "neutral" rating and set a $480.00 price objective on the stock. in a research report on Tuesday, December 3rd. Finally, StockNews.com cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, December 11th.
Get Our Latest Stock Report on CVCO
Cavco Industries Stock Performance
The stock has a market cap of $3.67 billion, a P/E ratio of 25.56 and a beta of 1.29. The firm has a 50-day moving average price of $466.09 and a 200-day moving average price of $414.91.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.70 by $0.58. The business had revenue of $507.46 million during the quarter, compared to the consensus estimate 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 company earned $4.76 earnings per share. On average, research analysts predict that Cavco Industries, Inc. will post 18 earnings per share for the current year.
Insider Buying and Selling
In other news, CAO Paul Bigbee sold 100 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $512.23, for a total value of $51,223.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the director now directly owns 2,861 shares in the company, valued at $1,312,283.48. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,100 shares of company stock worth $535,642 in the last three months. 1.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Cavco Industries
A number of hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its holdings in shares of Cavco Industries by 1,610.3% during the third quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company's stock valued at $26,052,000 after purchasing an additional 57,278 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Cavco Industries by 91.8% during the 3rd quarter. Cerity Partners LLC now owns 46,915 shares of the construction company's stock valued at $20,091,000 after acquiring an additional 22,451 shares during the last quarter. Atom Investors LP bought a new stake in shares of Cavco Industries in the third quarter worth approximately $7,572,000. Harbor Capital Advisors Inc. raised its holdings 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 valued at $9,592,000 after purchasing an additional 13,331 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Cavco Industries by 6.1% in the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company's stock worth $96,107,000 after purchasing an additional 12,822 shares during the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.
Cavco Industries Company Profile
(
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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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