Cavco Industries (NASDAQ:CVCO) Stock Price Up 0.8% – Should You Buy?

Cavco Industries, Inc. (NASDAQ:CVCO)’s share price shot up 0.8% during trading on Monday . The stock traded as high as $488.36 and last traded at $488.36. 6,579 shares changed hands during trading, a decline of 90% from the average session volume of 63,836 shares. The stock had previously closed at $484.66.

Wall Street Analyst Weigh In

CVCO has been the subject of a number of recent analyst reports. StockNews.com lowered Cavco Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Craig Hallum lifted their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Wedbush downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective on the stock. in a research report on Tuesday, December 3rd.

Cavco Industries Price Performance

The company has a market cap of $3.67 billion, a PE ratio of 25.56 and a beta of 1.29. The business has a 50-day moving average of $466.09 and a 200 day moving average of $414.91.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.70 by $0.58. The firm had revenue of $507.46 million during the quarter, compared to analyst estimates of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same quarter in the prior year, the firm earned $4.76 EPS. On average, equities analysts predict that Cavco Industries, Inc. will post 18 EPS for the current fiscal year.

Insider Activity at Cavco Industries

In related news, Director Julia Sze sold 125 shares of Cavco Industries stock in a transaction on Monday, December 9th. The shares were sold at an average price of $503.31, for a total transaction of $62,913.75. Following the transaction, the director now owns 2,736 shares in the company, valued at approximately $1,377,056.16. The trade was a 4.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Paul Bigbee sold 100 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $512.23, for a total value of $51,223.00. Following the completion of the sale, the chief accounting officer now owns 981 shares of the company’s stock, valued at $502,497.63. The trade was a 9.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,100 shares of company stock worth $535,642. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Cavco Industries

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in Cavco Industries by 6.1% during the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock valued at $96,107,000 after acquiring an additional 12,822 shares in the last quarter. FMR LLC boosted its holdings in shares of Cavco Industries by 7.0% during the 3rd quarter. FMR LLC now owns 135,444 shares of the construction company’s stock valued at $58,002,000 after purchasing an additional 8,829 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Cavco Industries by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company’s stock valued at $46,872,000 after purchasing an additional 5,935 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Cavco Industries by 8.5% in the third quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock worth $30,614,000 after purchasing an additional 5,620 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Cavco Industries by 1,610.3% in the third quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock worth $26,052,000 after buying an additional 57,278 shares in the last quarter. Institutional investors 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.