Cavco Industries (NASDAQ:CVCO) Sets New 1-Year High – What’s Next?

Cavco Industries, Inc. (NASDAQ:CVCO) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $713.01 and last traded at $708.7230, with a volume of 33971 shares changing hands. The stock had previously closed at $697.40.

Wall Street Analysts Forecast Growth

CVCO has been the subject of several analyst reports. CJS Securities upgraded Cavco Industries to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cavco Industries in a research report on Monday, December 29th. Finally, Zacks Research downgraded Cavco Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $550.00.

Cavco Industries Stock Performance

The stock has a fifty day moving average price of $606.16 and a 200-day moving average price of $543.69. The firm has a market cap of $5.45 billion, a PE ratio of 28.74 and a beta of 1.31.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, October 30th. The construction company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.30 by $0.25. Cavco Industries had a net margin of 9.18% and a return on equity of 19.13%. The company had revenue of $556.53 million during the quarter, compared to the consensus estimate of $542.92 million. As a group, equities analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Insider Activity at Cavco Industries

In other news, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $568.99, for a total value of $284,495.00. Following the completion of the sale, the director owned 6,669 shares of the company’s stock, valued at $3,794,594.31. This represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cavco Industries

Several hedge funds and other institutional investors have recently bought and sold shares of CVCO. Hunter Perkins Capital Management LLC grew its position in shares of Cavco Industries by 23.7% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 2,700 shares of the construction company’s stock valued at $1,173,000 after buying an additional 517 shares during the last quarter. Cascade Investment Advisors Inc. bought a new position in Cavco Industries in the second quarter worth about $1,098,000. Robeco Institutional Asset Management B.V. acquired a new position in Cavco Industries in the third quarter valued at approximately $819,000. State of Alaska Department of Revenue grew its holdings in shares of Cavco Industries by 7.4% during the second quarter. State of Alaska Department of Revenue now owns 4,769 shares of the construction company’s stock valued at $2,070,000 after purchasing an additional 329 shares during the last quarter. Finally, Confluence Investment Management LLC grew its holdings in shares of Cavco Industries by 62.6% during the third quarter. Confluence Investment Management LLC now owns 12,287 shares of the construction company’s stock valued at $7,135,000 after purchasing an additional 4,729 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 is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.