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

Key Points

• Cavco Industries shares reached a new 52-week high of $574.20 during mid-day trading, closing at $564.03 with a trading volume of 95,994 shares.
• The company's recent quarterly earnings report indicated an EPS of $6.42, surpassing estimates and showing significant revenue growth.
• Analyst ratings are mixed, with one rating a "Buy," another a "Hold," and the average price target set at $522.50, reflecting a "Moderate Buy" consensus.

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $574.20 and last traded at $564.03, with a volume of 95994 shares traded. The stock had previously closed at $559.91.

Wall Street Analyst Weigh In

Several research firms recently commented on CVCO. Wedbush reiterated a "neutral" rating and set a $550.00 target price on shares of Cavco Industries in a research note on Monday, August 4th. Wall Street Zen downgraded shares of Cavco Industries from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $522.50.

Cavco Industries Price Performance

The company has a market cap of $4.41 billion, a price-to-earnings ratio of 24.12 and a beta of 1.23. The firm has a 50-day moving average price of $484.52 and a 200 day moving average price of $478.25.

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

Insider Activity

In other Cavco Industries news, Director Susan L. Blount sold 2,500 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $519.30, for a total transaction of $1,298,250.00. Following the completion of the transaction, the director owned 3,126 shares of the company's stock, valued at approximately $1,623,331.80. The trade was a 44.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Paul Bigbee sold 300 shares of the business'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 sale, the chief accounting officer owned 774 shares in the company, valued at approximately $410,568.30. This trade represents a 27.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,600 shares of company stock worth $2,820,884. Insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Cavco Industries

A number of institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC increased its position in shares of Cavco Industries by 151.4% during the second quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company's stock worth $38,000 after acquiring an additional 53 shares in the last quarter. Osaic Holdings Inc. grew 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 valued at $57,000 after purchasing an additional 65 shares during the period. Parkside Financial Bank & Trust boosted its stake in Cavco Industries by 1,814.3% in the second quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company's stock valued at $58,000 after acquiring an additional 127 shares during the last quarter. CWM LLC raised its holdings in shares of Cavco Industries by 44.0% in the 1st quarter. CWM LLC now owns 157 shares of the construction company's stock worth $82,000 after purchasing an additional 48 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Cavco Industries by 12.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company's stock valued at $86,000 after buying an additional 22 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.