Cavco Industries (NASDAQ:CVCO) Sets New 1-Year High – Still a Buy?

Cavco Industries, Inc. (NASDAQ:CVCO) shares reached a new 52-week high during trading 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 Upgrades and Downgrades

CVCO has been the topic of a number of recent analyst reports. Wedbush increased their price objective on Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a report on Friday, October 11th. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Craig Hallum raised their price target on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a report on Monday, November 4th.

Cavco Industries Price Performance

The firm has a 50-day simple moving average of $438.93 and a two-hundred day simple moving average of $396.82. The company has a market cap of $4.16 billion, a PE ratio of 28.47 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 earnings per share 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 company had revenue of $507.46 million during the quarter, compared to the consensus estimate of $480.10 million. During the same quarter last year, the business posted $4.76 earnings per share. Equities research analysts forecast that Cavco Industries, Inc. will post 18 EPS for the current year.

Insider Activity

In related news, Director Steven G. Bunger sold 4,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 6,547 shares in the company, valued at approximately $2,679,032.40. The trade was a 37.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total value of $35,323.20. Following the sale, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. The trade was a 7.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,213 shares of company stock valued at $1,729,458 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. increased its stake in shares of Cavco Industries by 507.8% in the second quarter. Harbor Capital Advisors Inc. now owns 9,068 shares of the construction company’s stock worth $3,139,000 after acquiring an additional 7,576 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Cavco Industries by 37.1% in the second quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company’s stock valued at $3,274,000 after buying an additional 2,558 shares during the period. Quest Partners LLC bought a new stake in shares of Cavco Industries in the second quarter valued at about $931,000. Blue Trust Inc. lifted its stake in Cavco Industries by 90.0% during the third quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock worth $81,000 after purchasing an additional 90 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in Cavco Industries by 390.5% during the third quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock worth $44,000 after purchasing an additional 82 shares during the period. Institutional investors and hedge funds own 95.56% of the company’s stock.

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.