Cavco Industries (NASDAQ:CVCO) Upgraded to “Buy” at StockNews.com

Cavco Industries (NASDAQ:CVCO) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

Other research analysts have also issued reports about the stock. Craig Hallum increased their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research note on Monday. Wedbush raised 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 0.6 %

NASDAQ CVCO traded down $2.51 on Monday, hitting $444.21. The company’s stock had a trading volume of 49,164 shares, compared to its average volume of 64,360. Cavco Industries has a 1-year low of $250.75 and a 1-year high of $453.50. The company’s 50-day moving average is $421.95 and its 200 day moving average is $387.93. The firm has a market cap of $3.66 billion, a PE ratio of 25.11 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating 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 company had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. During the same period in the prior year, the firm posted $4.76 EPS. On average, equities analysts expect that Cavco Industries will post 17.35 EPS for the current year.

Insider Buying and Selling at Cavco Industries

In other news, Director Steven G. Bunger sold 4,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the completion of the transaction, the director now owns 6,547 shares in the company, valued at approximately $2,679,032.40. This represents a 0.00 % decrease in their position. 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, SVP Steven K. Like sold 575 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total transaction of $210,806.50. Following the completion of the transaction, the senior vice president now owns 1,255 shares in the company, valued at $460,108.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven G. Bunger sold 4,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the completion of the sale, the director now directly owns 6,547 shares in the company, valued at approximately $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 have sold a total of 4,663 shares of company stock worth $1,882,930 over the last three months. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cavco Industries

A number of institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. raised its stake in Cavco Industries by 9,900.0% in the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after purchasing an additional 99 shares in the last quarter. Farther Finance Advisors LLC grew its holdings 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 worth $44,000 after purchasing an additional 82 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Cavco Industries by 30.2% in the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after purchasing an additional 64 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Cavco Industries in the second quarter worth approximately $138,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Cavco Industries in the third quarter worth approximately $208,000. 95.56% of the stock is 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.