Cavco Industries (NASDAQ:CVCO) Hits New 52-Week High at $439.71

Cavco Industries, Inc. (NASDAQ:CVCO) shares reached a new 52-week high on Thursday . The company traded as high as $439.71 and last traded at $439.71, with a volume of 35400 shares trading hands. The stock had previously closed at $424.03.

Wall Street Analyst Weigh In

CVCO has been the topic of a number of analyst reports. Wedbush restated an “outperform” rating and set a $425.00 target price on shares of Cavco Industries in a research note on Friday, August 2nd. Craig Hallum lifted their target price on shares of Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a research note on Monday, August 5th.

Cavco Industries Stock Performance

The company has a market capitalization of $3.68 billion, a P/E ratio of 23.11 and a beta of 1.24. The business’s fifty day simple moving average is $396.63 and its 200-day simple moving average is $376.08.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly 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 the consensus estimate of $487.80 million. Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. During the same quarter in the prior year, the firm posted $5.29 earnings per share. As a group, analysts forecast that Cavco Industries, Inc. will post 17.35 EPS for the current year.

Insider Buying and Selling at Cavco Industries

In other news, CAO Paul Bigbee sold 88 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total value of $35,323.20. Following the sale, the chief accounting officer now directly owns 1,081 shares in the company, valued at approximately $433,913.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Steven G. Bunger sold 4,000 shares of the business’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 sale, the director now directly owns 6,547 shares in the company, valued at approximately $2,679,032.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Paul Bigbee sold 88 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was 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 owns 1,081 shares in the company, valued at $433,913.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,663 shares of company stock worth $1,882,930. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Cavco Industries

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in Cavco Industries by 9,900.0% during the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after purchasing an additional 99 shares during the last quarter. Mather Group LLC. bought a new position in Cavco Industries during the 1st quarter valued at about $60,000. nVerses Capital LLC bought a new position in Cavco Industries during the 2nd quarter valued at about $138,000. SG Americas Securities LLC bought a new position in Cavco Industries during the 1st quarter valued at about $197,000. Finally, O Shaughnessy Asset Management LLC bought a new position in Cavco Industries during the 1st quarter valued at about $209,000. 95.56% of the stock is currently owned by 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.