Cavco Industries (NASDAQ:CVCO) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Cavco Industries (NASDAQ:CVCO) from a hold rating to a buy rating in a report issued on Monday.

Other equities analysts have also recently issued reports about the company. Wedbush restated a “neutral” rating and set a $550.00 price objective (up from $480.00) on shares of Cavco Industries in a research note on Monday. Craig Hallum raised their price objective on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

Cavco Industries Trading Up 2.1 %

NASDAQ CVCO opened at $519.31 on Monday. The company has a fifty day simple moving average of $473.70 and a 200 day simple moving average of $439.00. Cavco Industries has a 12-month low of $331.08 and a 12-month high of $544.08. The company has a market cap of $4.21 billion, a P/E ratio of 25.56 and a beta of 1.35.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.25%. Sell-side analysts predict that Cavco Industries will post 18 EPS for the current year.

Insider Transactions at Cavco Industries

In related news, Director Susan L. Blount sold 750 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $471.70, for a total value of $353,775.00. Following the transaction, the director now directly owns 2,836 shares of the company’s stock, valued at approximately $1,337,741.20. The trade was a 20.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Julia Sze sold 125 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $503.31, for a total transaction of $62,913.75. Following the completion of the transaction, the director now directly owns 2,736 shares in the company, valued at $1,377,056.16. This trade represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,850 shares of company stock worth $889,417 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its holdings in Cavco Industries by 390.5% during the third quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock valued at $44,000 after purchasing an additional 82 shares during the last quarter. Avior Wealth Management LLC purchased a new stake in Cavco Industries during the third quarter valued at about $64,000. Blue Trust Inc. lifted its holdings in Cavco Industries by 90.0% during the third quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock valued at $81,000 after purchasing an additional 90 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Cavco Industries by 30.2% during the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after purchasing an additional 64 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Cavco Industries by 35.2% during the fourth quarter. KBC Group NV now owns 330 shares of the construction company’s stock valued at $147,000 after purchasing an additional 86 shares during the last quarter. 95.56% of the stock is owned by hedge funds and other 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.