Craig Hallum Boosts Cavco Industries (NASDAQ:CVCO) Price Target to $495.00

Cavco Industries (NASDAQ:CVCO) had its target price upped by research analysts at Craig Hallum from $422.00 to $495.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Craig Hallum’s target price suggests a potential upside of 10.91% from the company’s previous close.

Separately, Wedbush lifted their price target 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.

Cavco Industries Stock Down 0.1 %

Shares of NASDAQ CVCO traded down $0.42 during trading on Monday, reaching $446.30. 15,319 shares of the stock were exchanged, compared to its average volume of 64,201. Cavco Industries has a twelve month low of $250.75 and a twelve month high of $453.50. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 25.22 and a beta of 1.24. The business’s 50-day moving average price is $421.15 and its 200 day moving average price is $387.26.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.43%. The business had revenue of $507.46 million for the quarter, compared to analysts’ expectations of $480.10 million. During the same quarter last year, the company earned $4.76 EPS. As a group, sell-side analysts expect that Cavco Industries will post 17.35 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Paul Bigbee sold 88 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 1,081 shares in the company, valued at $433,913.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Steven G. Bunger sold 4,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the sale, the director now owns 6,547 shares in the company, valued at approximately $2,679,032.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. This 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 in the last ninety days. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Cavco Industries

A number of hedge funds have recently bought and sold shares of the company. Verus Capital Partners LLC boosted its stake in Cavco Industries by 4.5% in the second quarter. Verus Capital Partners LLC now owns 653 shares of the construction company’s stock valued at $226,000 after acquiring an additional 28 shares during the last quarter. Amalgamated Bank boosted its stake in Cavco Industries by 1.2% in the third quarter. Amalgamated Bank now owns 2,428 shares of the construction company’s stock valued at $1,040,000 after acquiring an additional 29 shares during the last quarter. Anchor Capital Advisors LLC boosted its stake in Cavco Industries by 0.7% in the first quarter. Anchor Capital Advisors LLC now owns 4,951 shares of the construction company’s stock valued at $1,976,000 after acquiring an additional 32 shares during the last quarter. Arizona State Retirement System raised its position in shares of Cavco Industries by 1.9% in 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 period. Finally, ProShare Advisors LLC raised its position in shares of Cavco Industries by 3.3% in the first quarter. ProShare Advisors LLC now owns 1,676 shares of the construction company’s stock valued at $669,000 after purchasing an additional 54 shares during the period. Institutional investors 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.