Cavco Industries (NASDAQ:CVCO) Hits New 1-Year High - Time to Buy?

Shares of Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $549.99 and last traded at $540.39, with a volume of 4058 shares traded. The stock had previously closed at $524.14.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CVCO shares. Wedbush reissued a "neutral" rating and set a $550.00 target price (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd. StockNews.com upgraded shares of Cavco Industries from a "hold" rating to a "buy" rating in a research report on Friday, April 25th.

Cavco Industries Stock Performance

The stock's 50 day moving average price is $499.98 and its 200 day moving average price is $488.72. The company has a market capitalization of $4.37 billion, a P/E ratio of 26.53 and a beta of 1.29.

Insider Activity

In related news, Director David A. Greenblatt sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the completion of the sale, the director now directly owns 15,286 shares of the company's stock, valued at approximately $8,084,459.68. This trade represents a 20.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Cavco Industries by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 774,842 shares of the construction company's stock valued at $402,631,000 after buying an additional 37,249 shares in the last quarter. FMR LLC increased its position in shares of Cavco Industries by 118.8% in the fourth quarter. FMR LLC now owns 296,343 shares of the construction company's stock worth $132,237,000 after purchasing an additional 160,899 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Cavco Industries by 71,961.9% in the first quarter. GAMMA Investing LLC now owns 229,157 shares of the construction company's stock worth $119,077,000 after purchasing an additional 228,839 shares during the last quarter. Geode Capital Management LLC raised its stake in Cavco Industries by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 227,024 shares of the construction company's stock valued at $101,324,000 after purchasing an additional 2,640 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its position in Cavco Industries by 0.3% during the fourth quarter. Boston Trust Walden Corp now owns 193,895 shares of the construction company's stock valued at $86,522,000 after purchasing an additional 614 shares during the last quarter. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.