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

Cavco Industries (NASDAQ:CVCO) had its target price upped by Craig Hallum from $422.00 to $495.00 in a report issued on Monday, Benzinga reports. Craig Hallum currently has a buy rating on the construction company’s stock.

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

Cavco Industries Stock Performance

Cavco Industries stock opened at $462.98 on Monday. The company’s fifty day moving average price is $424.25 and its 200 day moving average price is $389.15. Cavco Industries has a 1 year low of $250.75 and a 1 year high of $468.13. The stock has a market capitalization of $3.82 billion, a P/E ratio of 26.17 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $480.10 million. During the same quarter last year, the company earned $4.76 EPS. Sell-side analysts predict that Cavco Industries will post 17.35 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the transaction, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the transaction, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total value of $1,636,800.00. Following 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 position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Cavco Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Verus Capital Partners LLC grew its position in Cavco Industries by 4.5% in the 2nd quarter. Verus Capital Partners LLC now owns 653 shares of the construction company’s stock valued at $226,000 after acquiring an additional 28 shares in the last quarter. Amalgamated Bank grew its position in Cavco Industries by 1.2% in the 3rd quarter. Amalgamated Bank now owns 2,428 shares of the construction company’s stock valued at $1,040,000 after acquiring an additional 29 shares in the last quarter. Anchor Capital Advisors LLC grew its position in Cavco Industries by 0.7% in the 1st quarter. Anchor Capital Advisors LLC now owns 4,951 shares of the construction company’s stock valued at $1,976,000 after acquiring an additional 32 shares in the last quarter. Arizona State Retirement System grew its position in Cavco Industries by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 2,103 shares of the construction company’s stock valued at $728,000 after acquiring an additional 39 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in Cavco Industries by 3.3% in the 1st quarter. ProShare Advisors LLC now owns 1,676 shares of the construction company’s stock valued at $669,000 after acquiring an additional 54 shares in the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

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.