Cavco Industries (NASDAQ:CVCO) Trading Up 1.9% – Should You Buy?

Cavco Industries, Inc. (NASDAQ:CVCO) shares shot up 1.9% during trading on Friday . The company traded as high as $509.92 and last traded at $503.56. 11,284 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 64,075 shares. The stock had previously closed at $493.96.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Craig Hallum lifted their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Wedbush upped their price target on shares of Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a report on Friday, October 11th.

Cavco Industries Stock Up 3.8 %

The stock has a 50 day moving average of $440.64 and a 200 day moving average of $397.73. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 28.99 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 14.38% and a net margin of 8.00%. During the same period in the previous year, the business earned $4.76 EPS. Analysts predict that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Insider Activity

In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total value of $35,323.20. Following the sale, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at $433,913.40. This trade represents a 7.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Julia Sze sold 125 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $458.68, for a total value of $57,335.00. Following the completion of the sale, the director now owns 2,861 shares in the company, valued at $1,312,283.48. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,213 shares of company stock valued at $1,729,458. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Cavco Industries

A number of large investors have recently modified their holdings of the company. Blue Trust Inc. grew its position in Cavco Industries by 9,900.0% in the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after purchasing an additional 99 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in 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 buying 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 approximately $64,000. GAMMA Investing LLC raised 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 acquiring an additional 64 shares in the last quarter. Finally, nVerses Capital LLC acquired 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

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.