Cavco Industries (NASDAQ:CVCO) Reaches New 1-Year High Following Analyst Upgrade

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price hit a new 52-week high on Monday after StockNews.com upgraded the stock from a hold rating to a buy rating. The company traded as high as $453.10 and last traded at $453.10, with a volume of 1075 shares. The stock had previously closed at $446.72.

A number of other research analysts have also issued reports on CVCO. Wedbush boosted their target price on shares of Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Craig Hallum increased their price objective on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, 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 in the company, valued at approximately $433,913.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction that occurred on 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 owns 1,081 shares of the company’s stock, valued at $433,913.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the completion of the sale, the director now owns 6,547 shares in the company, valued at approximately $2,679,032.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

A number of large investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its stake in Cavco Industries by 1,610.3% in the third quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock valued at $26,052,000 after acquiring an additional 57,278 shares during the last quarter. Capital World Investors increased its holdings in Cavco Industries by 2.9% during the 1st quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock worth $241,800,000 after purchasing an additional 17,125 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Cavco Industries by 147.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock valued at $9,592,000 after acquiring an additional 13,331 shares in the last quarter. Edgestream Partners L.P. bought a new position in Cavco Industries in the second quarter valued at $4,245,000. Finally, AYAL Capital Advisors Ltd increased its position in shares of Cavco Industries by 61.4% in the second quarter. AYAL Capital Advisors Ltd now owns 29,861 shares of the construction company’s stock valued at $10,337,000 after acquiring an additional 11,361 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors.

Cavco Industries Stock Performance

The firm has a fifty day moving average price of $423.04 and a 200 day moving average price of $388.63. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 25.87 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. The company had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same quarter in the previous year, the business posted $4.76 earnings per share. On average, analysts expect that Cavco Industries, Inc. will post 17.35 EPS for the current fiscal 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.