Cavco Industries, Inc. (NASDAQ:CVCO) Short Interest Up 13.0% in October

Cavco Industries, Inc. (NASDAQ:CVCO) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 162,900 shares, an increase of 13.0% from the October 15th total of 144,200 shares. Approximately 2.1% of the company’s shares are sold short. Based on an average daily volume of 63,300 shares, the short-interest ratio is presently 2.6 days.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Wedbush boosted their price target on Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Finally, Craig Hallum boosted their price target on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a report on Monday, November 4th.

Insider Buying and Selling

In other Cavco Industries news, Director Julia Sze sold 125 shares of Cavco Industries stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $458.68, for a total transaction of $57,335.00. Following the transaction, the director now directly owns 2,861 shares in the company, valued at approximately $1,312,283.48. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total value of $35,323.20. Following the transaction, the chief accounting officer now owns 1,081 shares in the company, valued at approximately $433,913.40. This represents a 7.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,213 shares of company stock valued at $1,729,458 over the last three months. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Cavco Industries

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors raised its holdings in Cavco Industries by 2.9% during the first quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock worth $241,800,000 after acquiring an additional 17,125 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cavco Industries by 6.1% during the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock worth $96,107,000 after acquiring an additional 12,822 shares in the last quarter. Boston Trust Walden Corp raised its holdings in Cavco Industries by 0.8% during the second quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock worth $67,865,000 after acquiring an additional 1,541 shares in the last quarter. FMR LLC raised its holdings in Cavco Industries by 7.0% during the third quarter. FMR LLC now owns 135,444 shares of the construction company’s stock worth $58,002,000 after acquiring an additional 8,829 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Cavco Industries by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company’s stock worth $46,872,000 after acquiring an additional 5,935 shares in the last quarter. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Trading Up 0.3 %

Shares of Cavco Industries stock traded up $1.51 during trading on Monday, reaching $466.74. The stock had a trading volume of 5,748 shares, compared to its average volume of 64,391. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 26.30 and a beta of 1.24. The stock has a fifty day moving average price of $433.31 and a two-hundred day moving average price of $394.26. Cavco Industries has a 52 week low of $271.48 and a 52 week high of $484.80.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. The company had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same period in the previous year, the company posted $4.76 earnings per share. On average, equities analysts forecast that Cavco Industries will post 18 EPS for the current fiscal year.

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.