Cavco Industries (NASDAQ:CVCO) Hits New 52-Week High After Analyst Upgrade

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) hit a new 52-week high on Monday after StockNews.com upgraded the stock from a hold rating to a buy rating. The stock traded as high as $453.10 and last traded at $453.10, with a volume of 1075 shares changing hands. The stock had previously closed at $446.72.

A number of other analysts also recently issued reports on the company. Wedbush raised their price objective on Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Craig Hallum lifted their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research report on Monday.

Insider Transactions at Cavco Industries

In other news, Director Steven G. Bunger sold 4,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 6,547 shares of the company’s stock, valued at approximately $2,679,032.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cavco Industries 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 value of $35,323.20. Following the completion of the transaction, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were 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 of the company’s stock, valued at $2,679,032.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Cavco Industries

A number of institutional investors have recently made changes to their positions in CVCO. Blue Trust Inc. grew its stake 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 acquiring an additional 99 shares during the period. Farther Finance Advisors LLC grew its position in shares of Cavco Industries by 390.5% in the third quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock valued at $44,000 after purchasing an additional 82 shares during the period. GAMMA Investing LLC increased its stake in Cavco Industries by 30.2% in the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after purchasing an additional 64 shares during the last quarter. nVerses Capital LLC acquired a new position in Cavco Industries in the second quarter valued at $138,000. Finally, SG Americas Securities LLC purchased a new position in Cavco Industries during the first quarter worth about $197,000. 95.56% of the stock is owned by institutional investors and hedge funds.

Cavco Industries Trading Up 3.0 %

The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 25.87 and a beta of 1.24. The business has a 50 day simple moving average of $423.04 and a 200-day simple moving average of $388.63.

Cavco Industries (NASDAQ:CVCO) last issued its 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 business had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. During the same period last year, the company posted $4.76 EPS. Research analysts predict that Cavco Industries, Inc. will post 17.35 EPS for the current year.

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.