Cavco Industries (NASDAQ:CVCO) Reaches New 12-Month High at $439.71

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) reached a new 52-week high on Thursday . The company traded as high as $439.71 and last traded at $439.71, with a volume of 35400 shares traded. The stock had previously closed at $424.03.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wedbush restated an “outperform” rating and set a $425.00 target price on shares of Cavco Industries in a research note on Friday, August 2nd. Craig Hallum upped their target price on shares of Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a research note on Monday, August 5th.

Cavco Industries Price Performance

The stock’s 50 day moving average is $399.48 and its two-hundred day moving average is $377.03. The stock has a market capitalization of $3.61 billion, a PE ratio of 23.75 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 EPS for the quarter, missing the consensus estimate of $4.97 by ($0.86). The company had revenue of $477.60 million during the quarter, compared to analysts’ expectations of $487.80 million. Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. During the same quarter in the prior year, the company earned $5.29 earnings per share. On average, equities analysts predict that Cavco Industries, Inc. will post 17.35 earnings per share for the current year.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, 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 transaction, the senior vice president now directly owns 1,255 shares in the company, valued at $460,108.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Steven K. Like sold 575 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total transaction of $210,806.50. Following the transaction, the senior vice president now directly owns 1,255 shares in the company, valued at $460,108.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Paul Bigbee sold 88 shares of the firm’s 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 transaction, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. The disclosure for this sale can be found here. Insiders have sold 4,663 shares of company stock worth $1,882,930 over the last three months. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Cavco Industries

A number of hedge funds have recently modified their holdings of CVCO. Norges Bank acquired a new stake in shares of Cavco Industries during the fourth quarter worth $21,059,000. Capital World Investors lifted its holdings in shares of Cavco Industries by 2.9% during the first quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock worth $241,800,000 after purchasing an additional 17,125 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Cavco Industries during the second quarter worth $4,245,000. Confluence Investment Management LLC acquired a new stake in shares of Cavco Industries during the first quarter worth $4,679,000. Finally, AYAL Capital Advisors Ltd lifted its holdings in shares of Cavco Industries by 61.4% during the second quarter. AYAL Capital Advisors Ltd now owns 29,861 shares of the construction company’s stock worth $10,337,000 after purchasing an additional 11,361 shares during the period. 95.56% of the stock is currently owned by hedge funds and other 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.