Shares of Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) were down 2.1% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $489.00 and last traded at $493.00. Approximately 4,990 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 63,894 shares. The stock had previously closed at $503.69.
Specifically, Director Julia Sze sold 125 shares of the business's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $503.31, for a total value of $62,913.75. Following the sale, the director now owns 2,736 shares of the company's stock, valued at $1,377,056.16. The trade was a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Wall Street Analysts Forecast Growth
CVCO has been the topic of several recent research reports. StockNews.com upgraded shares of Cavco Industries from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Wedbush downgraded Cavco Industries from an "outperform" rating to a "neutral" rating and set a $480.00 target price on the stock. in a research report on Tuesday, December 3rd. Finally, Craig Hallum increased their price target on Cavco Industries from $422.00 to $495.00 and gave the company a "buy" rating in a research report on Monday, November 4th.
Get Our Latest Research Report on CVCO
Cavco Industries Trading Down 1.4 %
The company has a market capitalization of $4.03 billion, a P/E ratio of 27.87 and a beta of 1.29. The company has a 50 day moving average price of $458.84 and a 200 day moving average price of $409.02.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued 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 company had revenue of $507.46 million during the quarter, compared to analysts' expectations 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 previous year, the company posted $4.76 earnings per share. As a group, sell-side analysts forecast that Cavco Industries, Inc. will post 18 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in CVCO. Thrivent Financial for Lutherans boosted its position in shares of Cavco Industries by 37.1% in the second quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company's stock valued at $3,274,000 after acquiring an additional 2,558 shares during the period. Quest Partners LLC bought a new stake in Cavco Industries in the 2nd quarter valued at about $931,000. Blue Trust Inc. grew its position in shares of Cavco Industries by 90.0% during the 3rd quarter. Blue Trust Inc. now owns 190 shares of the construction company's stock worth $81,000 after purchasing an additional 90 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Cavco Industries by 8.5% during the third 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 during the period. Finally, Cerity Partners LLC raised its position in shares of Cavco Industries by 91.8% in the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company's stock valued at $20,091,000 after buying an additional 22,451 shares in 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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