Cavco Industries (NASDAQ:CVCO) Sees Large Volume Increase - What's Next?

Key Points

• Cavco Industries experienced a 31% decrease in trading volume on Tuesday, with 76,642 shares exchanged compared to 110,963 shares in the previous session.
• Analysts have set a consensus price target of $522.50 for Cavco, with one analyst rating the stock as a Buy and another as a Hold.
• The company reported impressive quarterly results, with earnings per share of $6.42, surpassing expectations of $5.81 and revenue of $556.86 million.

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 76,642 shares were traded during mid-day trading, a decline of 31% from the previous session's volume of 110,963 shares.The stock last traded at $543.72 and had previously closed at $545.36.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CVCO shares. Wedbush reissued a "neutral" rating and issued a $550.00 price target on shares of Cavco Industries in a report on Monday, August 4th. Wall Street Zen cut Cavco Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $522.50.

Cavco Industries Stock Down 1.3%

The business has a fifty day simple moving average of $484.52 and a 200-day simple moving average of $478.99. The firm has a market cap of $4.41 billion, a P/E ratio of 24.12 and a beta of 1.23.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share for the quarter, beating the consensus estimate of $5.81 by $0.61. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%.The firm had revenue of $556.86 million during the quarter, compared to the consensus estimate of $524.97 million. On average, sell-side analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Activity at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 300 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $530.45, for a total value of $159,135.00. Following the transaction, the chief accounting officer directly owned 774 shares of the company's stock, valued at approximately $410,568.30. This trade represents a 27.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Susan L. Blount sold 2,500 shares of Cavco Industries stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $519.30, for a total value of $1,298,250.00. Following the sale, the director directly owned 3,126 shares in the company, valued at $1,623,331.80. This trade represents a 44.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,600 shares of company stock valued at $2,820,884 over the last ninety days. Insiders own 1.60% of the company's stock.

Institutional Trading of Cavco Industries

A number of large investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its stake in Cavco Industries by 118.2% in the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company's stock worth $57,000 after acquiring an additional 65 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Cavco Industries in the 2nd quarter worth approximately $1,027,000. Caxton Associates LLP bought a new stake in Cavco Industries in the 2nd quarter worth approximately $1,238,000. Public Sector Pension Investment Board increased its stake in Cavco Industries by 5.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 30,395 shares of the construction company's stock worth $13,204,000 after acquiring an additional 1,609 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in Cavco Industries in the 2nd quarter worth approximately $609,000. 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.