Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report)'s stock price traded up 0.7% during mid-day trading on Monday . The company traded as high as $507.00 and last traded at $504.15. 6,652 shares changed hands during trading, a decline of 90% from the average session volume of 64,000 shares. The stock had previously closed at $500.64.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on CVCO shares. Wedbush cut Cavco Industries from an "outperform" rating to a "neutral" rating and set a $480.00 price objective for the company. in a report on Tuesday, December 3rd. StockNews.com raised Cavco Industries from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Finally, 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 research note on Monday, November 4th.
View Our Latest Analysis on CVCO
Cavco Industries Stock Performance
The stock has a fifty day simple moving average of $457.34 and a two-hundred day simple moving average of $407.97. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 28.50 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 earnings per share for the quarter, beating the consensus estimate 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 last year, the firm posted $4.76 earnings per share. Equities analysts expect that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the company's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $409.20, for a total value of $1,636,800.00. Following the completion of the transaction, the director now owns 6,547 shares of the company's stock, valued at $2,679,032.40. This represents a 37.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Paul Bigbee sold 100 shares of Cavco Industries stock in a transaction dated Friday, November 22nd. The shares were 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 in the company, 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 sold a total of 4,313 shares of company stock worth $1,780,681 in the last three months. 1.60% of the stock is owned by corporate insiders.
Institutional Trading of Cavco Industries
A number of institutional investors and hedge funds have recently bought and sold shares of CVCO. Blue Trust Inc. increased its stake in shares of Cavco Industries by 9,900.0% in the second quarter. Blue Trust Inc. now owns 100 shares of the construction company's stock valued at $35,000 after buying an additional 99 shares during the period. Farther Finance Advisors LLC raised its holdings in Cavco Industries by 390.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company's stock worth $44,000 after purchasing an additional 82 shares during the last quarter. Avior Wealth Management LLC acquired a new position in shares of Cavco Industries in the 3rd quarter worth approximately $64,000. GAMMA Investing LLC boosted its stake in shares of Cavco Industries by 30.2% in the 3rd 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 last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Cavco Industries during the second quarter worth $138,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.
Cavco Industries Company Profile
(
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.
Further Reading
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