Cavco Industries (NASDAQ:CVCO) Price Target Raised to $495.00

Cavco Industries (NASDAQ:CVCO - Get Free Report) had its price target increased by equities researchers at Craig Hallum from $422.00 to $495.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. Craig Hallum's price target would indicate a potential upside of 11.43% from the company's previous close.

Separately, Wedbush boosted their price objective on Cavco Industries from $425.00 to $455.00 and gave the stock an "outperform" rating in a report on Friday, October 11th.

Cavco Industries Trading Down 0.6 %

Shares of NASDAQ CVCO traded down $2.51 during midday trading on Monday, hitting $444.21. 49,164 shares of the company's stock were exchanged, compared to its average volume of 64,360. Cavco Industries has a 12-month low of $250.75 and a 12-month high of $453.50. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 25.11 and a beta of 1.24. The business's fifty day moving average price is $421.15 and its two-hundred day moving average price is $387.26.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, topping the consensus estimate of $4.70 by $0.58. Cavco Industries had a return on equity of 14.43% and a net margin of 8.00%. The company had revenue of $507.46 million during the quarter, compared to analyst estimates of $480.10 million. During the same quarter in the previous year, the firm earned $4.76 earnings per share. Equities analysts expect that Cavco Industries will post 17.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cavco Industries news, SVP Steven K. Like sold 575 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $366.62, for a total value of $210,806.50. Following the completion of the sale, the senior vice president now owns 1,255 shares of the company's stock, valued at $460,108.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Paul Bigbee sold 88 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the sale, the chief accounting officer now owns 1,081 shares of the company's stock, valued at approximately $433,913.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Steven K. Like sold 575 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total value of $210,806.50. Following the sale, the senior vice president now directly owns 1,255 shares of the company's stock, valued at approximately $460,108.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,663 shares of company stock valued at $1,882,930 over the last quarter. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Cavco Industries

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its holdings in shares of Cavco Industries by 12.7% during the first quarter. BNP Paribas Financial Markets now owns 10,355 shares of the construction company's stock valued at $4,132,000 after acquiring an additional 1,164 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Cavco Industries by 12.8% during the first quarter. Janney Montgomery Scott LLC now owns 1,923 shares of the construction company's stock valued at $767,000 after acquiring an additional 218 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Cavco Industries by 1.6% during the first quarter. Texas Permanent School Fund Corp now owns 6,794 shares of the construction company's stock valued at $2,711,000 after acquiring an additional 106 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Cavco Industries during the first quarter valued at approximately $197,000. Finally, Illinois Municipal Retirement Fund raised its holdings in shares of Cavco Industries by 3.2% during the first quarter. Illinois Municipal Retirement Fund now owns 4,529 shares of the construction company's stock valued at $1,807,000 after acquiring an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company's stock.

About Cavco Industries

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.