Cavco Industries (NASDAQ:CVCO) Trading Down 0.5% – Here’s Why

by · The Markets Daily

Cavco Industries, Inc. (NASDAQ:CVCO – Get Free Report)’s stock price dropped 0.5% during mid-day trading on Wednesday . The stock traded as low as $467.47 and last traded at $469.06. Approximately 2,035 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 64,119 shares. The stock had previously closed at $471.33.

Analysts Set New Price Targets

A number of brokerages have weighed in on CVCO. Craig Hallum boosted their price target on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Wedbush lifted their price objective on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th.

Check Out Our Latest Report on CVCO

Cavco Industries Price Performance

The company has a market cap of $3.82 billion, a price-to-earnings ratio of 26.52 and a beta of 1.24. The firm has a 50-day moving average price of $435.92 and a 200 day moving average price of $395.58.

Cavco Industries (NASDAQ:CVCO – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. The firm had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same period in the prior year, the firm posted $4.76 EPS. On average, equities analysts anticipate that Cavco Industries, Inc. will post 18 EPS for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In related news, Director Julia Sze sold 125 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the transaction, the director now owns 2,861 shares in the company, valued at approximately $1,312,283.48. This trade 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 accessible through this link. Also, Director Steven G. Bunger sold 4,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 6,547 shares of the company’s stock, valued at $2,679,032.40. This represents a 37.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,213 shares of company stock valued at $1,729,458 in the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Cavco Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in shares of Cavco Industries during the 3rd quarter worth $637,000. Coldstream Capital Management Inc. acquired a new position in Cavco Industries during the third quarter worth about $213,000. Geode Capital Management LLC lifted its holdings in shares of Cavco Industries by 6.1% in the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock worth $96,107,000 after acquiring an additional 12,822 shares during the last quarter. Barclays PLC boosted its stake in shares of Cavco Industries by 162.0% in the 3rd quarter. Barclays PLC now owns 17,234 shares of the construction company’s stock valued at $7,381,000 after purchasing an additional 10,656 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Cavco Industries by 20.5% during the 3rd quarter. XTX Topco Ltd now owns 1,430 shares of the construction company’s stock valued at $612,000 after purchasing an additional 243 shares during the last quarter. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Company Profile

(Get Free Report)

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.

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