Cavco Industries, Inc. (NASDAQ:CVCO) Director Sells $1,636,800.00 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director Steven G. Bunger sold 4,000 shares of Cavco Industries 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 transaction, the director now directly owns 6,547 shares of the company’s stock, valued at approximately $2,679,032.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cavco Industries Stock Up 0.2 %

CVCO traded up $0.92 during midday trading on Monday, hitting $428.45. The company had a trading volume of 23,118 shares, compared to its average volume of 64,205. Cavco Industries, Inc. has a 52 week low of $233.84 and a 52 week high of $435.56. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 23.42 and a beta of 1.24. The stock’s 50 day moving average price is $391.73 and its 200 day moving average price is $374.99.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share 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 the consensus estimate of $487.80 million. Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. During the same period last year, the firm posted $5.29 earnings per share. Research analysts predict that Cavco Industries, Inc. will post 17.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CVCO shares. Craig Hallum lifted their price target on shares of Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Cavco Industries in a research note on Friday, August 2nd.

Institutional Investors Weigh In On Cavco Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors increased its position 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 acquiring an additional 17,125 shares in the last quarter. Boston Trust Walden Corp increased its position in shares of Cavco Industries by 0.8% during the second quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock worth $67,865,000 after acquiring an additional 1,541 shares in the last quarter. Norges Bank bought a new stake in shares of Cavco Industries during the fourth quarter worth about $21,059,000. Ashford Capital Management Inc. increased its position in shares of Cavco Industries by 0.5% during the first quarter. Ashford Capital Management Inc. now owns 58,180 shares of the construction company’s stock worth $23,217,000 after acquiring an additional 310 shares in the last quarter. Finally, Kennedy Capital Management LLC increased its position in shares of Cavco Industries by 9.0% during the first quarter. Kennedy Capital Management LLC now owns 48,031 shares of the construction company’s stock worth $19,167,000 after acquiring an additional 3,975 shares in the last quarter. 95.56% of the stock is owned by 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.