Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report)'s share price traded down 1% on Thursday . The company traded as low as $513.49 and last traded at $515.86. 50,563 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 64,636 shares. The stock had previously closed at $521.23.
Analysts Set New Price Targets
Several brokerages have recently issued reports on CVCO. StockNews.com upgraded shares of Cavco Industries from a "hold" rating to 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, Craig Hallum boosted their price target on Cavco Industries from $422.00 to $495.00 and gave the stock a "buy" rating in a report on Monday, November 4th.
Get Our Latest Analysis on Cavco Industries
Cavco Industries Trading Down 1.0 %
The company has a 50-day moving average of $447.82 and a 200-day moving average of $401.78. The firm has a market capitalization of $4.18 billion, a P/E ratio of 29.16 and a beta of 1.24.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.70 by $0.58. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The business had revenue of $507.46 million for the quarter, compared to analysts' expectations of $480.10 million. During the same period in the prior year, the business posted $4.76 earnings per share. Research analysts predict that Cavco Industries, Inc. will post 18 EPS for the current year.
Insider Activity at Cavco Industries
In related news, Director Steven G. Bunger sold 4,000 shares of the business's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the transaction, the director now owns 6,547 shares in the company, valued at $2,679,032.40. The trade was a 37.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Paul Bigbee sold 100 shares of the firm's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $512.23, for a total transaction of $51,223.00. Following the completion of the sale, the chief accounting officer now 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 a total of 4,313 shares of company stock worth $1,780,681 over the last quarter. Company insiders own 1.60% of the company's stock.
Institutional Trading of Cavco Industries
Large investors have recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Cavco Industries by 9,900.0% in the second quarter. Blue Trust Inc. now owns 100 shares of the construction company's stock worth $35,000 after acquiring an additional 99 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Cavco Industries by 390.5% in 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 in the last quarter. Avior Wealth Management LLC acquired a new stake in Cavco Industries in the 3rd quarter valued at $64,000. GAMMA Investing LLC increased its stake in Cavco Industries by 30.2% during 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 in the last quarter. Finally, nVerses Capital LLC acquired a new position in Cavco Industries during the second quarter worth $138,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.
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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