Cavco Industries (NASDAQ:CVCO) Price Target Raised to $455.00

Cavco Industries (NASDAQ:CVCO) had its price objective upped by Wedbush from $425.00 to $455.00 in a research report report published on Friday morning, Benzinga reports. Wedbush currently has an outperform rating on the construction company’s stock.

Separately, Craig Hallum boosted their target price on shares of Cavco Industries from $382.00 to $422.00 and gave the company a buy rating in a report on Monday, August 5th.

Cavco Industries Stock Performance

NASDAQ:CVCO opened at $422.17 on Friday. Cavco Industries has a one year low of $233.84 and a one year high of $444.90. The stock has a market cap of $3.49 billion, a PE ratio of 23.01 and a beta of 1.24. The stock has a 50 day moving average price of $406.87 and a 200 day moving average price of $382.21.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). The company had revenue of $477.60 million during the quarter, compared to analyst estimates of $487.80 million. Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. During the same period last year, the business earned $5.29 earnings per share. As a group, analysts predict that Cavco Industries will post 17.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In other news, Director Steven G. Bunger sold 4,000 shares of the 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 completion of the transaction, the director now directly owns 6,547 shares in the company, valued at approximately $2,679,032.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the sale, the chief accounting officer now directly owns 1,081 shares in the company, valued at $433,913.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 6,547 shares in the company, valued at approximately $2,679,032.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,663 shares of company stock worth $1,882,930 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Cavco Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital World Investors grew its stake in shares of Cavco Industries by 2.9% in the first quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock valued at $241,800,000 after buying an additional 17,125 shares in the last quarter. Boston Trust Walden Corp grew its position in Cavco Industries by 0.8% in the 2nd quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock valued at $67,865,000 after acquiring an additional 1,541 shares in the last quarter. Ashford Capital Management Inc. increased its stake in 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 purchasing an additional 310 shares during the period. Handelsbanken Fonder AB lifted its position in shares of Cavco Industries by 1.4% during the third quarter. Handelsbanken Fonder AB now owns 57,986 shares of the construction company’s stock worth $24,832,000 after purchasing an additional 800 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its stake in shares of Cavco Industries by 9.0% in the first quarter. Kennedy Capital Management LLC now owns 48,031 shares of the construction company’s stock valued at $19,167,000 after purchasing an additional 3,975 shares during the period. 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.