Cavco Industries (NASDAQ:CVCO) Sets New 12-Month High - Still a Buy?

Key Points

• Cavco Industries shares recently reached a new 52-week high at $601.71, with the last trading figure at $596.89, indicating strong interest and performance in the stock market.
• Analysts have a consensus rating of "Moderate Buy" on Cavco Industries, with two analysts rating it as a Buy and one as a Hold; the current price target averages at $522.50.
• In terms of recent activity, insiders sold 5,600 shares valued at approximately $2.82 million, with significant decreases in their positions, raising questions about future stock performance.

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) shares hit a new 52-week high during trading on Friday . The company traded as high as $601.71 and last traded at $596.89, with a volume of 3404 shares traded. The stock had previously closed at $593.26.

Analyst Ratings Changes

Several analysts recently issued reports on CVCO shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of Cavco Industries in a research report on Wednesday, October 8th. Wedbush reissued a "neutral" rating and set a $550.00 price target on shares of Cavco Industries in a research note on Monday, August 4th. Finally, Wall Street Zen lowered Cavco Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $522.50.

Cavco Industries Stock Performance

The firm has a fifty day simple moving average of $539.63 and a 200 day simple moving average of $485.27. The company has a market capitalization of $4.73 billion, a PE ratio of 26.04 and a beta of 1.23.

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

Insider Transactions at Cavco Industries

In other news, CAO Paul Bigbee sold 300 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $530.45, for a total value of $159,135.00. Following the completion of the sale, the chief accounting officer owned 774 shares of the company's stock, valued at $410,568.30. This trade represents a 27.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan L. Blount sold 2,500 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $519.30, for a total value of $1,298,250.00. Following the completion of the sale, the director directly owned 3,126 shares of the company's stock, valued at $1,623,331.80. The trade was a 44.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,600 shares of company stock valued at $2,820,884 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Cavco Industries

Institutional investors have recently made changes to their positions in the business. Salomon & Ludwin LLC acquired a new stake in shares of Cavco Industries in the 3rd quarter worth $31,000. Farther Finance Advisors LLC lifted its position in Cavco Industries by 151.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company's stock worth $38,000 after acquiring an additional 53 shares during the period. Mather Group LLC. acquired a new stake in Cavco Industries during the 3rd quarter worth about $63,000. Osaic Holdings Inc. lifted its position in Cavco Industries by 118.2% during 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 period. Finally, Parkside Financial Bank & Trust lifted its position in Cavco Industries by 1,814.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company's stock worth $58,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds 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.

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