Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report)'s share price fell 1.3% during mid-day trading on Wednesday . The company traded as low as $503.00 and last traded at $505.00. 6,903 shares traded hands during trading, a decline of 89% from the average session volume of 64,139 shares. The stock had previously closed at $511.73.
Analysts Set New Price Targets
A number of brokerages have commented on CVCO. StockNews.com raised shares of Cavco Industries from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Craig Hallum increased 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 lowered shares of Cavco Industries from an "outperform" rating to a "neutral" rating and set a $480.00 target price on the stock. in a research note on Tuesday.
Check Out Our Latest Research Report on CVCO
Cavco Industries Price Performance
The firm's 50 day moving average is $452.84 and its two-hundred day moving average is $405.06. The firm has a market capitalization of $4.10 billion, a P/E ratio of 28.55 and a beta of 1.29.
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, topping analysts' consensus estimates of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The firm had revenue of $507.46 million during the quarter, compared to analysts' expectations of $480.10 million. During the same period in the previous year, the business posted $4.76 earnings per share. Analysts anticipate that Cavco Industries, Inc. will post 18 EPS for the current fiscal year.
Insider Activity at Cavco Industries
In related 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 transaction, the director now owns 6,547 shares of the company's stock, valued at approximately $2,679,032.40. This trade represents a 37.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Paul Bigbee sold 100 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total value 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 $502,497.63. The trade was a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,313 shares of company stock worth $1,780,681 in the last quarter. Company insiders own 1.60% of the company's stock.
Hedge Funds Weigh In On Cavco Industries
Hedge funds have recently modified their holdings of the company. Kingswood Wealth Advisors LLC purchased a new position in Cavco Industries in the 2nd quarter valued at approximately $208,000. Hunter Perkins Capital Management LLC lifted its holdings in shares of Cavco Industries by 28.4% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 2,535 shares of the construction company's stock worth $878,000 after acquiring an additional 560 shares during the last quarter. Blue Trust Inc. lifted its holdings 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 worth $35,000 after acquiring an additional 99 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Cavco Industries by 0.8% during the 2nd quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company's stock worth $67,865,000 after acquiring an additional 1,541 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Cavco Industries by 4.0% during the 2nd quarter. Raymond James & Associates now owns 13,138 shares of the construction company's stock worth $4,548,000 after acquiring an additional 503 shares during the last quarter. Institutional investors own 95.56% of the company's stock.
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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