Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) shot up 5.7% on Monday . The company traded as high as $544.08 and last traded at $542.31. 21,691 shares traded hands during trading, a decline of 66% from the average session volume of 64,119 shares. The stock had previously closed at $512.91.
Analyst Ratings Changes
CVCO has been the subject of several research analyst reports. Craig Hallum upped their price target 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. Wedbush increased their target price on Cavco Industries from $425.00 to $455.00 and gave the company an "outperform" rating in a research report on Friday, October 11th. Finally, StockNews.com upgraded Cavco Industries from a "hold" rating to a "buy" rating in a report on Monday, November 4th.
Check Out Our Latest Analysis on CVCO
Cavco Industries Stock Up 4.0 %
The stock has a market cap of $4.32 billion, a P/E ratio of 30.66 and a beta of 1.24. The company's 50 day moving average price is $440.64 and its 200-day moving average price is $398.05.
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 (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.58. The business had revenue of $507.46 million during 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 company earned $4.76 EPS. Equities research analysts anticipate that Cavco Industries, Inc. will post 18 earnings per share for the current year.
Insider Activity at Cavco Industries
In related 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 transaction of $1,636,800.00. Following the sale, the director now owns 6,547 shares in the company, 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 the SEC website. Also, CAO Paul Bigbee sold 88 shares of the firm's stock in a transaction that occurred 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 7.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,213 shares of company stock worth $1,729,458 over the last ninety days. Insiders own 1.60% of the company's stock.
Hedge Funds Weigh In On Cavco Industries
A number of institutional investors and hedge funds have recently modified their holdings of CVCO. Geode Capital Management LLC lifted its position in shares of Cavco Industries by 6.1% during the 3rd 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 during the period. Boston Trust Walden Corp increased its stake in Cavco Industries by 0.8% in the second quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company's stock valued at $67,865,000 after purchasing an additional 1,541 shares in the last quarter. FMR LLC raised its holdings in shares of Cavco Industries by 7.0% during the third quarter. FMR LLC now owns 135,444 shares of the construction company's stock valued at $58,002,000 after purchasing an additional 8,829 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Cavco Industries by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company's stock worth $46,872,000 after purchasing an additional 5,935 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Cavco Industries by 8.5% during the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company's stock worth $30,614,000 after purchasing an additional 5,620 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors.
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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