Cavco Industries, Inc. (NASDAQ:CVCO) Short Interest Update

Cavco Industries, Inc. (NASDAQ:CVCO) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 150,300 shares, a drop of 7.7% from the October 31st total of 162,900 shares. Based on an average daily trading volume, of 63,400 shares, the days-to-cover ratio is presently 2.4 days. Currently, 2.0% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several analysts have weighed in on CVCO shares. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Wedbush cut Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target on the stock. in a research note on Tuesday. Finally, Craig Hallum raised their price objective on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Insider Activity

In related news, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total value of $1,636,800.00. Following the sale, the director now owns 6,547 shares in the company, valued at $2,679,032.40. The trade was a 37.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Paul Bigbee sold 88 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the sale, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. This represents a 7.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,313 shares of company stock valued at $1,780,681. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cavco Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position 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 valued at $96,107,000 after purchasing an additional 12,822 shares during the last quarter. Boston Trust Walden Corp increased its holdings in Cavco Industries by 0.8% during 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 raised its position in Cavco Industries by 7.0% in the third quarter. FMR LLC now owns 135,444 shares of the construction company’s stock worth $58,002,000 after acquiring an additional 8,829 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Cavco Industries by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company’s stock worth $46,872,000 after acquiring an additional 5,935 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Cavco Industries by 8.5% during the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock valued at $30,614,000 after acquiring an additional 5,620 shares during the period. 95.56% of the stock is owned by institutional investors.

Cavco Industries Trading Down 0.8 %

NASDAQ:CVCO traded down $4.08 during trading hours on Wednesday, reaching $507.65. 4,236 shares of the company traded hands, compared to its average volume of 64,132. Cavco Industries has a 1 year low of $292.81 and a 1 year high of $544.08. The stock has a market capitalization of $4.12 billion, a P/E ratio of 28.93 and a beta of 1.29. The business’s 50-day moving average price is $452.84 and its two-hundred day moving average price is $405.06.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) 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 business had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. During the same period in the previous year, the company earned $4.76 earnings per share. As a group, equities analysts anticipate that Cavco Industries will post 18 EPS for the current year.

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.