Cavco Industries (NASDAQ:CVCO) Shares Up 0.3% – Here’s What Happened

Cavco Industries, Inc. (NASDAQ:CVCOGet Free Report)’s stock price shot up 0.3% during mid-day trading on Wednesday . The stock traded as high as $476.99 and last traded at $474.72. 8,586 shares were traded during mid-day trading, a decline of 87% from the average session volume of 63,763 shares. The stock had previously closed at $473.29.

Analyst Ratings Changes

Several research analysts have recently commented on CVCO shares. StockNews.com lowered Cavco Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Craig Hallum lifted 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, November 4th. Finally, Wedbush cut shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target for the company. in a research note on Tuesday, December 3rd.

View Our Latest Report on Cavco Industries

Cavco Industries Stock Down 2.2 %

The stock has a 50-day simple moving average of $466.09 and a 200 day simple moving average of $414.91. The company has a market cap of $3.75 billion, a PE ratio of 26.17 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCOGet Free Report) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.58. The firm had revenue of $507.46 million for 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 period in the previous year, the firm earned $4.76 EPS. As a group, research analysts anticipate that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 100 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total value of $51,223.00. Following the completion of the transaction, the chief accounting officer now owns 981 shares of the company’s stock, valued at $502,497.63. This trade represents a 9.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Susan L. Blount sold 750 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $485.56, for a total transaction of $364,170.00. Following the completion of the transaction, the director now owns 2,086 shares of the company’s stock, valued at approximately $1,012,878.16. This trade represents a 26.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,100 shares of company stock worth $535,642 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CVCO. SkyView Investment Advisors LLC raised its holdings in Cavco Industries by 1.8% in the third 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 in the last quarter. Virtu Financial LLC purchased a new stake in shares of Cavco Industries in the 3rd quarter valued at approximately $637,000. Coldstream Capital Management Inc. acquired a new stake in shares of Cavco Industries in the 3rd quarter valued at $213,000. Geode Capital Management LLC lifted its position in shares of Cavco Industries by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock worth $96,107,000 after purchasing an additional 12,822 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Cavco Industries by 162.0% during the third quarter. Barclays PLC now owns 17,234 shares of the construction company’s stock worth $7,381,000 after purchasing an additional 10,656 shares in the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Company Profile

(Get Free Report)

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.

Further Reading

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