Cavco Industries (NASDAQ:CVCO) Raised to Buy at StockNews.com

Cavco Industries (NASDAQ:CVCO) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Several other research analysts have also weighed in on the stock. Craig Hallum upped their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wedbush reaffirmed a “neutral” rating and issued a $550.00 price target (up from $480.00) on shares of Cavco Industries in a research note on Monday.

Cavco Industries Stock Performance

Cavco Industries stock opened at $515.86 on Monday. The company has a 50 day moving average price of $473.42 and a 200 day moving average price of $439.89. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 25.39 and a beta of 1.35. Cavco Industries has a 52 week low of $331.08 and a 52 week high of $544.08.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share for the quarter, beating the consensus estimate of $4.89 by $2.01. Cavco Industries had a return on equity of 16.25% and a net margin of 8.75%. Equities analysts forecast that Cavco Industries will post 18 earnings per share for the current fiscal year.

Insider Activity

In other Cavco Industries news, Director Julia Sze sold 125 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 represents a 4.19 % 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 Susan L. Blount sold 750 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $471.70, for a total value of $353,775.00. Following the transaction, the director now owns 2,836 shares in the company, valued at approximately $1,337,741.20. This trade represents a 20.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,850 shares of company stock worth $889,417. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Cavco Industries

Several large investors have recently modified their holdings of CVCO. Amalgamated Bank raised its holdings in Cavco Industries by 1.2% in the 3rd quarter. Amalgamated Bank now owns 2,428 shares of the construction company’s stock worth $1,040,000 after acquiring an additional 29 shares during the period. SkyView Investment Advisors LLC grew its position in shares of Cavco Industries by 1.8% in the third quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company’s stock valued at $767,000 after purchasing an additional 31 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Cavco Industries by 0.4% in the third quarter. Thrivent Financial for Lutherans now owns 9,493 shares of the construction company’s stock worth $4,066,000 after purchasing an additional 37 shares during the period. GAMMA Investing LLC lifted its position in shares of Cavco Industries by 15.2% during the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock worth $142,000 after purchasing an additional 42 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Cavco Industries by 28.9% during the 4th quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock valued at $105,000 after purchasing an additional 55 shares during the period. 95.56% of the stock is owned by institutional investors.

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.