Cavco Industries (NASDAQ:CVCO) Stock Price Down 0.1% – Time to Sell?

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price dropped 0.1% during mid-day trading on Monday . The company traded as low as $513.47 and last traded at $514.18. Approximately 5,835 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 64,208 shares. The stock had previously closed at $514.50.

Analyst Ratings Changes

A number of brokerages recently commented on CVCO. Wedbush upped their price objective on Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Craig Hallum boosted their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th.

Cavco Industries Trading Up 1.1 %

The business has a fifty day moving average price of $449.40 and a two-hundred day moving average price of $403.05. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 29.07 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last posted its 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. The firm had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same period in the previous year, the company earned $4.76 earnings per share. On average, analysts anticipate that Cavco Industries, Inc. will post 18 EPS for the current year.

Insider Activity at Cavco Industries

In related news, Director Steven G. Bunger sold 4,000 shares of Cavco Industries 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 transaction, the director now owns 6,547 shares in the company, valued at approximately $2,679,032.40. This trade represents a 37.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Paul Bigbee sold 88 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer now owns 1,081 shares in the company, valued at approximately $433,913.40. This trade represents a 7.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,313 shares of company stock valued at $1,780,681 in the last ninety days. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Verus Capital Partners LLC grew its position in Cavco Industries by 4.5% during the second quarter. Verus Capital Partners LLC now owns 653 shares of the construction company’s stock worth $226,000 after buying an additional 28 shares in the last quarter. Amalgamated Bank boosted its position in Cavco Industries by 1.2% during the 3rd quarter. Amalgamated Bank now owns 2,428 shares of the construction company’s stock worth $1,040,000 after buying an additional 29 shares during the period. SkyView Investment Advisors LLC increased its position in Cavco Industries by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company’s stock valued at $767,000 after acquiring an additional 31 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Cavco Industries by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 9,493 shares of the construction company’s stock valued at $4,066,000 after acquiring an additional 37 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Cavco Industries by 1.9% during the second quarter. Arizona State Retirement System now owns 2,103 shares of the construction company’s stock worth $728,000 after purchasing an additional 39 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.