Cavco Industries (NASDAQ:CVCO) Sets New 52-Week High – Still a Buy?

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) reached a new 52-week high on Monday . The stock traded as high as $484.00 and last traded at $484.00, with a volume of 212 shares trading hands. The stock had previously closed at $475.98.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Craig Hallum lifted their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a report on Monday, November 4th. Wedbush upped their target price on shares of Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Finally, StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th.

Cavco Industries Stock Performance

The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 26.43 and a beta of 1.24. The firm has a fifty day moving average price of $427.96 and a 200 day moving average price of $391.53.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (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 14.38%. The company had revenue of $507.46 million during the quarter, compared to the consensus estimate of $480.10 million. During the same period last year, the firm earned $4.76 EPS. Research analysts predict that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In other news, Director Julia Sze sold 125 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 2,861 shares in the company, valued at $1,312,283.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Julia Sze sold 125 shares of the business’s stock in a transaction on Friday, November 8th. The stock was 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 directly owns 2,861 shares of the company’s stock, valued at $1,312,283.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction dated Wednesday, September 11th. The stock was 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 of the company’s stock, valued at approximately $433,913.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,213 shares of company stock worth $1,729,458. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cavco Industries

Institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in Cavco Industries by 1,610.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock valued at $26,052,000 after acquiring an additional 57,278 shares during the last quarter. Cerity Partners LLC lifted its position in Cavco Industries by 91.8% during the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock worth $20,091,000 after buying an additional 22,451 shares during the period. Capital World Investors boosted its stake in Cavco Industries by 2.9% in the 1st quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock worth $241,800,000 after buying an additional 17,125 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Cavco Industries by 147.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock valued at $9,592,000 after buying an additional 13,331 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in shares of Cavco Industries during the 2nd quarter valued at about $4,245,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

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.