Craig Hallum Increases Cavco Industries (NASDAQ:CVCO) Price Target to $495.00

Cavco Industries (NASDAQ:CVCO) had its price target upped by investment analysts at Craig Hallum from $422.00 to $495.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Craig Hallum’s price target would suggest a potential upside of 8.15% from the company’s current price.

Separately, Wedbush boosted their target price on shares of Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a report on Friday, October 11th.

Cavco Industries Stock Performance

Cavco Industries stock opened at $457.70 on Monday. Cavco Industries has a 1 year low of $250.75 and a 1 year high of $460.64. The firm has a 50 day moving average price of $423.04 and a 200 day moving average price of $388.63. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 25.87 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last released 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. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The firm had revenue of $507.46 million during the quarter, compared to the consensus estimate of $480.10 million. During the same period in the previous year, the firm earned $4.76 earnings per share. Sell-side analysts predict that Cavco Industries will post 17.35 EPS for the current year.

Insider Activity at Cavco Industries

In related news, CAO Paul Bigbee sold 88 shares of the stock in a transaction on Wednesday, September 11th. The stock was 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 directly owns 1,081 shares in the company, valued at approximately $433,913.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $409.20, for a total value of $1,636,800.00. Following the completion of the transaction, the director now directly owns 6,547 shares of the company’s stock, valued at $2,679,032.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Paul Bigbee sold 88 shares of the company’s 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 transaction, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Cavco Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in Cavco Industries by 9,900.0% in the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after buying an additional 99 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Cavco Industries by 390.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock valued at $44,000 after buying an additional 82 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Cavco Industries by 30.2% during the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after purchasing an additional 64 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Cavco Industries during the second quarter worth about $138,000. Finally, SG Americas Securities LLC bought a new position in shares of Cavco Industries during the first quarter worth about $197,000. 95.56% of the stock is owned by hedge funds and other 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.