Cavco Industries (NASDAQ:CVCO) Shares Up 5.7% – Here’s What Happened

Cavco Industries, Inc. (NASDAQ:CVCO) shares were up 5.7% during trading on Monday . The stock traded as high as $544.08 and last traded at $542.31. Approximately 21,691 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 64,119 shares. The stock had previously closed at $512.91.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Craig Hallum upped their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wedbush upped their price objective on Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Finally, StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, November 4th.

Cavco Industries Stock Down 1.0 %

The company’s fifty day moving average is $444.55 and its 200 day moving average is $400.17. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 29.29 and a beta of 1.24.

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

Insiders Place Their Bets

In other news, CAO Paul Bigbee sold 100 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $512.23, for a total value of $51,223.00. Following the sale, the chief accounting officer now directly owns 981 shares of the company’s stock, valued at approximately $502,497.63. This represents a 9.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julia Sze sold 125 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $458.68, for a total transaction of $57,335.00. Following the completion of the sale, the director now owns 2,861 shares of the company’s stock, 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. Insiders have sold 4,313 shares of company stock valued at $1,780,681 in the last 90 days. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. SkyView Investment Advisors LLC boosted its position in Cavco Industries by 1.8% during the third quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company’s stock worth $767,000 after purchasing an additional 31 shares during the period. Virtu Financial LLC acquired a new stake in shares of Cavco Industries during the 3rd quarter worth about $637,000. Coldstream Capital Management Inc. bought a new stake in shares of Cavco Industries during the 3rd quarter worth about $213,000. Geode Capital Management LLC grew its stake in Cavco Industries by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock valued at $96,107,000 after buying an additional 12,822 shares during the last quarter. Finally, Barclays PLC raised its holdings in Cavco Industries by 162.0% in the 3rd quarter. Barclays PLC now owns 17,234 shares of the construction company’s stock valued at $7,381,000 after acquiring an additional 10,656 shares during the period. 95.56% of the stock is owned by institutional investors and hedge funds.

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.