Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) shares dropped 2.5% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $518.81 and last traded at $519.59. Approximately 8,573 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 64,317 shares. The stock had previously closed at $533.17.
Specifically, CAO Paul Bigbee sold 100 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total transaction of $51,223.00. Following the sale, the chief accounting officer now directly owns 981 shares in the company, valued at approximately $502,497.63. This trade represents a 9.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Wall Street Analysts Forecast Growth
Several research firms recently commented on CVCO. Wedbush boosted their price objective on shares of Cavco Industries from $425.00 to $455.00 and gave the company an "outperform" rating in a research report on Friday, October 11th. StockNews.com raised Cavco Industries from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Finally, Craig Hallum boosted their target price on Cavco Industries from $422.00 to $495.00 and gave the company a "buy" rating in a research note on Monday, November 4th.
Check Out Our Latest Stock Report on Cavco Industries
Cavco Industries Price Performance
The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 29.51 and a beta of 1.24. The business has a 50-day simple moving average of $442.76 and a two-hundred day simple moving average of $399.15.
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 for the quarter, beating the consensus estimate of $4.70 by $0.58. The company had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same period in the prior year, the firm earned $4.76 earnings per share. As a group, equities analysts anticipate that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Cavco Industries
Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. increased its position in Cavco Industries by 9,900.0% during 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 during the period. Farther Finance Advisors LLC raised its position in shares of Cavco Industries by 390.5% in the third quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company's stock valued at $44,000 after buying an additional 82 shares in the last quarter. Avior Wealth Management LLC bought a new stake in shares of Cavco Industries in the third quarter valued at approximately $64,000. GAMMA Investing LLC grew its position in Cavco Industries by 30.2% during the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company's stock worth $118,000 after buying an additional 64 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in Cavco Industries during the 2nd quarter worth $138,000. Institutional investors and hedge funds own 95.56% of the company's stock.
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.
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