Cavco Industries (NASDAQ:CVCO) Hits New 52-Week High – What’s Next?

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $486.73 and last traded at $486.52, with a volume of 6433 shares traded. The stock had previously closed at $475.41.

Wall Street Analysts Forecast Growth

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

Cavco Industries Stock Up 3.2 %

The firm has a 50-day moving average price of $437.37 and a 200 day moving average price of $396.14. The firm has a market capitalization of $3.98 billion, a PE ratio of 27.38 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results 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 14.38% and a net margin of 8.00%. The business had revenue of $507.46 million during the quarter, compared to analyst estimates of $480.10 million. During the same period last year, the business posted $4.76 earnings per share. Equities research analysts expect that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Insider Activity at Cavco Industries

In related news, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total value of $1,636,800.00. Following the completion of the transaction, the director now directly owns 6,547 shares in the company, valued at approximately $2,679,032.40. This trade represents a 37.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Julia Sze sold 125 shares of Cavco Industries 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 transaction, the director now owns 2,861 shares of the company’s stock, valued at approximately $1,312,283.48. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,213 shares of company stock worth $1,729,458. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in Cavco Industries by 9,900.0% during the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after buying an additional 99 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Cavco Industries by 390.5% during 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 during the last quarter. Avior Wealth Management LLC purchased a new stake in Cavco Industries during the 3rd quarter worth about $64,000. GAMMA Investing LLC lifted its holdings in Cavco Industries by 30.2% during the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after buying an additional 64 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in Cavco Industries during the 2nd quarter worth about $138,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

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.