Cavco Industries (NASDAQ:CVCO) Reaches New 1-Year High – What’s Next?

Cavco Industries, Inc. (NASDAQ:CVCO)’s share price hit a new 52-week high on Thursday . The company traded as high as $486.73 and last traded at $486.52, with a volume of 6433 shares changing hands. The stock had previously closed at $475.41.

Analyst Ratings Changes

A number of analysts have commented on CVCO shares. Craig Hallum lifted their target price 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. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Wedbush boosted their price objective on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th.

Cavco Industries Stock Performance

The stock’s fifty day moving average price is $438.93 and its two-hundred day moving average price is $396.82. The company has a market cap of $4.16 billion, a P/E ratio of 28.47 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.70 by $0.58. The business had revenue of $507.46 million during the quarter, compared to the consensus estimate of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same quarter in the prior year, the firm earned $4.76 EPS. On average, equities research analysts forecast that Cavco Industries, Inc. will post 18 EPS for the current year.

Insider Buying and Selling at Cavco Industries

In other news, CAO Paul Bigbee sold 88 shares of the stock in a transaction on Wednesday, September 11th. The shares were 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 directly owns 1,081 shares in the company, valued at $433,913.40. This represents a 7.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now owns 6,547 shares of the company’s stock, valued at $2,679,032.40. The trade was a 37.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,213 shares of company stock worth $1,729,458. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Verus Capital Partners LLC lifted its position in shares of Cavco Industries by 4.5% during the 2nd quarter. Verus Capital Partners LLC now owns 653 shares of the construction company’s stock worth $226,000 after buying an additional 28 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Cavco Industries by 1.2% in the third quarter. Amalgamated Bank now owns 2,428 shares of the construction company’s stock worth $1,040,000 after purchasing an additional 29 shares during the period. SkyView Investment Advisors LLC boosted its position in shares of Cavco Industries by 1.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company’s stock valued at $767,000 after acquiring an additional 31 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Cavco Industries by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 9,493 shares of the construction company’s stock valued at $4,066,000 after purchasing an additional 37 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in Cavco Industries by 1.9% during the second quarter. Arizona State Retirement System now owns 2,103 shares of the construction company’s stock valued at $728,000 after purchasing an additional 39 shares during the last quarter. 95.56% of the stock is owned by institutional investors.

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.