Cavco Industries (NASDAQ:CVCO) Trading Down 0.5% – Should You Sell?

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) dropped 0.5% during mid-day trading on Wednesday . The company traded as low as $467.47 and last traded at $469.06. Approximately 2,035 shares changed hands during trading, a decline of 97% from the average daily volume of 64,119 shares. The stock had previously closed at $471.33.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CVCO shares. Craig Hallum increased their target price on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Wedbush raised their target price on Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Finally, StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th.

Cavco Industries Stock Performance

The company’s 50 day simple moving average is $437.37 and its 200-day simple moving average is $396.14. The firm has a market capitalization of $4.00 billion, a PE ratio of 27.92 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. The business had revenue of $507.46 million for the quarter, compared to the consensus estimate of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same period last year, the firm posted $4.76 earnings per share. On average, equities research analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Insider Transactions at Cavco Industries

In related news, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 1,081 shares in the company, valued at $433,913.40. The trade was a 7.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $1,636,800.00. Following the completion of the transaction, the director now owns 6,547 shares of the company’s stock, valued at approximately $2,679,032.40. This trade represents a 37.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,213 shares of company stock worth $1,729,458. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 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 worth $241,800,000 after acquiring an additional 17,125 shares during the last quarter. Geode Capital Management LLC boosted its stake in Cavco Industries by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock valued at $96,107,000 after purchasing an additional 12,822 shares during the last quarter. Boston Trust Walden Corp raised its stake in shares of Cavco Industries by 0.8% in the second quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock worth $67,865,000 after purchasing an additional 1,541 shares during the last quarter. FMR LLC lifted its holdings in shares of Cavco Industries by 7.0% during the third quarter. FMR LLC now owns 135,444 shares of the construction company’s stock valued at $58,002,000 after purchasing an additional 8,829 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Cavco Industries by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company’s stock valued at $46,872,000 after purchasing an additional 5,935 shares in 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.