Cavco Industries (NASDAQ:CVCO) Stock Price Down 0.3% – Here’s Why

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price traded down 0.3% during mid-day trading on Friday . The company traded as low as $514.55 and last traded at $514.55. 5,055 shares traded hands during trading, a decline of 92% from the average session volume of 64,373 shares. The stock had previously closed at $515.86.

Analysts Set New Price Targets

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

Cavco Industries Trading Down 0.3 %

The business has a fifty day simple moving average of $447.82 and a two-hundred day simple moving average of $401.78. The company has a market cap of $4.17 billion, a PE ratio of 29.09 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $480.10 million. During the same period last year, the firm posted $4.76 earnings per share. Equities analysts expect that Cavco Industries, Inc. will post 18 EPS for the current year.

Insider Transactions 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 transaction of $35,323.20. Following the transaction, the chief accounting officer now owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. The trade was a 7.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Julia Sze sold 125 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $458.68, for a total transaction of $57,335.00. Following the sale, the director now owns 2,861 shares of the company’s stock, valued at approximately $1,312,283.48. The trade was 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 4,313 shares of company stock worth $1,780,681 in the last ninety days. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVCO. Geode Capital Management LLC grew its holdings in shares of Cavco Industries by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock worth $96,107,000 after purchasing an additional 12,822 shares during the period. Boston Trust Walden Corp lifted its position in Cavco Industries by 0.8% in the second quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock valued at $67,865,000 after buying an additional 1,541 shares during the last quarter. FMR LLC boosted its stake in Cavco Industries by 7.0% during the third quarter. FMR LLC now owns 135,444 shares of the construction company’s stock worth $58,002,000 after buying an additional 8,829 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Cavco Industries by 5.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company’s stock valued at $46,872,000 after acquiring an additional 5,935 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of Cavco Industries by 8.5% in the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock worth $30,614,000 after acquiring an additional 5,620 shares during the last quarter. Institutional investors and hedge funds 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.