Cavco Industries (NASDAQ:CVCO) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Cavco Industries (NASDAQ:CVCO) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

Several other equities analysts have also recently commented on the stock. Wedbush reaffirmed a “neutral” rating and set a $550.00 price objective (up previously from $480.00) on shares of Cavco Industries in a research note on Monday. Craig Hallum boosted their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Cavco Industries Stock Performance

Shares of NASDAQ CVCO opened at $533.84 on Monday. Cavco Industries has a fifty-two week low of $331.08 and a fifty-two week high of $544.08. The stock has a market cap of $4.33 billion, a PE ratio of 26.27 and a beta of 1.35. The stock has a fifty day moving average of $473.32 and a 200-day moving average of $440.76.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, topping the consensus estimate of $4.89 by $2.01. Cavco Industries had a return on equity of 16.25% and a net margin of 8.75%. On average, sell-side analysts predict that Cavco Industries will post 18 EPS for the current year.

Insider Activity

In other Cavco Industries news, Director Susan L. Blount sold 750 shares of Cavco Industries stock in a transaction dated 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 sale, the director now owns 2,086 shares of the company’s stock, valued at $1,012,878.16. The trade was a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julia Sze sold 125 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $458.68, for a total value of $57,335.00. Following the transaction, the director now owns 2,861 shares in the company, valued at $1,312,283.48. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,850 shares of company stock worth $889,417. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Cavco Industries

Hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC grew its position in Cavco Industries by 390.5% during the third quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock valued at $44,000 after acquiring an additional 82 shares during the last quarter. Avior Wealth Management LLC purchased a new stake in shares of Cavco Industries in the 3rd quarter valued at $64,000. Smartleaf Asset Management LLC grew its holdings in shares of Cavco Industries by 387.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock valued at $72,000 after purchasing an additional 128 shares during the last quarter. Blue Trust Inc. raised its position in Cavco Industries by 90.0% in the 3rd quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock worth $81,000 after purchasing an additional 90 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Cavco Industries by 30.2% in 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. 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.