Cavco Industries (NASDAQ:CVCO) Hits New 52-Week High at $439.71

Cavco Industries, Inc. (NASDAQ:CVCO) shares hit a new 52-week high on Thursday . The stock traded as high as $439.71 and last traded at $439.71, with a volume of 35400 shares traded. The stock had previously closed at $424.03.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Cavco Industries in a research report on Friday, August 2nd. Craig Hallum upped their price target on shares of Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a research report on Monday, August 5th.

Cavco Industries Trading Up 4.8 %

The firm’s 50-day moving average price is $396.63 and its two-hundred day moving average price is $376.08. The stock has a market cap of $3.68 billion, a PE ratio of 23.11 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $4.11 EPS for the quarter, missing the consensus estimate of $4.97 by ($0.86). The firm had revenue of $477.60 million for the quarter, compared to the consensus estimate of $487.80 million. Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. During the same quarter last year, the firm earned $5.29 EPS. On average, analysts anticipate that Cavco Industries, Inc. will post 17.35 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Steven K. Like sold 575 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total transaction of $210,806.50. Following the completion of the transaction, the senior vice president now owns 1,255 shares in the company, valued at approximately $460,108.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Cavco Industries news, SVP Steven K. Like sold 575 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total transaction of $210,806.50. Following the transaction, the senior vice president now owns 1,255 shares in the company, valued at approximately $460,108.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $433,913.40. The disclosure for this sale can be found here. Insiders sold a total of 4,663 shares of company stock worth $1,882,930 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. increased its stake in shares of Cavco Industries by 9,900.0% in the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after acquiring an additional 99 shares during the period. Mather Group LLC. acquired a new stake in shares of Cavco Industries in the first quarter worth $60,000. nVerses Capital LLC acquired a new stake in shares of Cavco Industries in the second quarter worth $138,000. SG Americas Securities LLC acquired a new stake in shares of Cavco Industries in the first quarter worth $197,000. Finally, TradeLink Capital LLC acquired a new stake in shares of Cavco Industries in the second quarter worth $202,000. 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.