Cavco Industries (NASDAQ:CVCO) Sees Unusually-High Trading Volume - Still a Buy?

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) saw strong trading volume on Friday . 108,280 shares were traded during trading, an increase of 62% from the previous session's volume of 67,010 shares.The stock last traded at $425.02 and had previously closed at $423.85.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVCO. Wall Street Zen downgraded shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Wedbush reiterated a "neutral" rating and issued a $550.00 price target on shares of Cavco Industries in a report on Tuesday, May 27th.

Cavco Industries Price Performance

The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 21.14 and a beta of 1.29. The business has a fifty day moving average price of $485.49 and a two-hundred day moving average price of $492.08.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The construction company reported $5.40 earnings per share for the quarter, topping analysts' consensus estimates of $5.23 by $0.17. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. The business had revenue of $508.36 million during the quarter, compared to the consensus estimate of $504.15 million. On average, research analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CVCO. Harvest Fund Management Co. Ltd acquired a new stake in Cavco Industries in the 4th quarter worth about $67,000. Smartleaf Asset Management LLC increased its holdings in shares of Cavco Industries by 387.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company's stock worth $72,000 after buying an additional 128 shares during the last quarter. CWM LLC raised its position in shares of Cavco Industries by 44.0% during the 1st quarter. CWM LLC now owns 157 shares of the construction company's stock valued at $82,000 after buying an additional 48 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Cavco Industries by 2,850.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company's stock valued at $92,000 after acquiring an additional 171 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Cavco Industries by 28.9% in the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock valued at $105,000 after acquiring an additional 55 shares during the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

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.

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