Cavco Industries (NASDAQ:CVCO) Stock: Insider Brian Cira Sells 2,382 Shares

Cavco Industries, Inc. (NASDAQ:CVCO) insider Brian Cira sold 2,382 shares of the business’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $666.91, for a total value of $1,588,579.62. Following the completion of the transaction, the insider owned 1,908 shares in the company, valued at $1,272,464.28. The trade was a 55.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cavco Industries Price Performance

Shares of NASDAQ CVCO traded up $2.26 during mid-day trading on Friday, reaching $644.27. The company’s stock had a trading volume of 73,856 shares, compared to its average volume of 106,960. Cavco Industries, Inc. has a 52 week low of $443.33 and a 52 week high of $713.01. The stock has a fifty day moving average of $565.75 and a two-hundred day moving average of $550.88. The firm has a market capitalization of $4.92 billion, a PE ratio of 27.30, a P/E/G ratio of 1.74 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 29th. The construction company reported $7.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.52 by $1.65. Cavco Industries had a return on equity of 16.60% and a net margin of 7.68%. The company had revenue of $656.38 million for the quarter, compared to the consensus estimate of $613.12 million. Analysts anticipate that Cavco Industries, Inc. will post 24.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CVCO shares. Weiss Ratings raised shares of Cavco Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, November 3rd. Zelman & Associates cut shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 6th. Northland Securities began coverage on shares of Cavco Industries in a report on Wednesday, October 28th. They issued an “outperform” rating and a $650.00 target price on the stock. Zacks Research upgraded shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 29th. Finally, Oppenheimer restated an “outperform” rating and set a $735.00 target price (up from $720.00) on shares of Cavco Industries in a research report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Cavco Industries currently has an average rating of “Moderate Buy” and a consensus price target of $695.00.

Institutional Investors Weigh In On Cavco Industries

Several large investors have recently made changes to their positions in CVCO. BlackRock Inc. bought a new position in Cavco Industries during the second quarter valued at approximately $767,112,000. GW&K Investment Management LLC increased its stake in Cavco Industries by 0.3% in the 3rd quarter. GW&K Investment Management LLC now owns 153,957 shares of the construction company’s stock worth $86,259,000 after acquiring an additional 518 shares during the last quarter. Marshall Wace LLP increased its stake in Cavco Industries by 0.8% in the 3rd quarter. Marshall Wace LLP now owns 75,416 shares of the construction company’s stock worth $42,253,000 after acquiring an additional 577 shares during the last quarter. Jupiter Topco LLC bought a new stake in Cavco Industries in the 2nd quarter worth approximately $42,954,000. Finally, Neumeier Poma Investment Counsel LLC purchased a new stake in shares of Cavco Industries during the 2nd quarter worth approximately $42,826,587. 95.56% of the stock is owned by institutional investors.

Cavco Industries Company Profile

Cavco Industries, Inc. designs and manufactures factory-built housing, including manufactured and modular homes, park model recreational vehicles, and related structures. Its homes are sold under a range of brand names and are designed for uses that include permanent residences, vacation homes, and workforce housing. Founded in 1965 and headquartered in Phoenix, Arizona, Cavco serves customers across the United States through a network of independent retailers, company-owned retail locations, and other housing channels.