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

Cavco Industries (NASDAQ:CVCO) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Other analysts have also recently issued reports about the company. Wedbush reissued a “neutral” rating and set a $550.00 price target (up from $480.00) on shares of Cavco Industries in a report on Monday. Craig Hallum raised their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

Cavco Industries Price Performance

NASDAQ:CVCO traded up $10.67 during midday trading on Monday, reaching $519.31. 113,649 shares of the company traded hands, compared to its average volume of 60,007. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 25.56 and a beta of 1.35. Cavco Industries has a twelve month low of $331.08 and a twelve month high of $544.08. The company has a fifty day moving average price of $473.70 and a 200 day moving average price of $439.00.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.25%. On average, equities research analysts forecast that Cavco Industries will post 18 earnings per share for the current fiscal year.

Insider Activity

In other Cavco Industries news, Director Susan L. Blount sold 750 shares of the 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 sale, the director now directly owns 2,086 shares of the company’s stock, valued at approximately $1,012,878.16. This trade represents a 26.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julia Sze sold 125 shares of Cavco Industries stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the completion of the sale, the director now directly owns 2,861 shares in the company, valued at $1,312,283.48. This represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,850 shares of company stock worth $889,417 over the last quarter. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in shares of Cavco Industries by 390.5% in the third 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. Avior Wealth Management LLC bought a new stake in shares of Cavco Industries during the 3rd quarter valued at about $64,000. Blue Trust Inc. increased its stake in shares of Cavco Industries by 90.0% in the third quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock valued at $81,000 after purchasing an additional 90 shares during the period. GAMMA Investing LLC boosted its stake in Cavco Industries by 30.2% during the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after purchasing an additional 64 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Cavco Industries by 35.2% during the fourth quarter. KBC Group NV now owns 330 shares of the construction company’s stock worth $147,000 after purchasing an additional 86 shares during the period. 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.