Cavco Industries (NASDAQ:CVCO) Sees Large Volume Increase - Time to Buy?

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) shares saw an uptick in trading volume on Tuesday . 53,529 shares were traded during trading, a decline of 17% from the previous session's volume of 64,721 shares.The stock last traded at $470.13 and had previously closed at $472.79.

Wall Street Analyst Weigh In

CVCO has been the topic of a number of research analyst reports. Wall Street Zen lowered Cavco Industries from a "buy" rating to a "hold" rating in a report on Friday. Wedbush reiterated a "neutral" rating and issued a $550.00 target price on shares of Cavco Industries in a research report on Tuesday.

Cavco Industries Price Performance

The stock has a market cap of $3.52 billion, a P/E ratio of 21.34 and a beta of 1.29. The company has a fifty day moving average of $493.30 and a 200 day moving average of $493.18.

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

Insider Buying and Selling

In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of Cavco Industries stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total value of $2,115,520.00. Following the transaction, the director now owns 15,286 shares in the company, valued at approximately $8,084,459.68. The trade was a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cavco Industries

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in shares of Cavco Industries by 71,961.9% during 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 period. FMR LLC raised its holdings in Cavco Industries by 118.8% during the 4th quarter. FMR LLC now owns 296,343 shares of the construction company's stock worth $132,237,000 after buying an additional 160,899 shares during the period. Janus Henderson Group PLC lifted its stake in Cavco Industries by 1,030.9% during the fourth quarter. Janus Henderson Group PLC now owns 72,534 shares of the construction company's stock valued at $32,371,000 after buying an additional 66,120 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Cavco Industries by 64.0% in the first quarter. Ameriprise Financial Inc. now owns 155,765 shares of the construction company's stock worth $80,940,000 after buying an additional 60,779 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new position in shares of Cavco Industries in the fourth quarter worth about $20,382,000. 95.56% of the stock is owned by institutional investors.

About Cavco Industries

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.