Cavco Industries (NASDAQ:CVCO) Insider Brian Cira Sells 2,382 Shares of Company Stock

Cavco Industries, Inc. (NASDAQ:CVCO) insider Brian Cira sold 2,382 shares of the company’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $666.91, for a total transaction of $1,588,579.62. Following the completion of the transaction, the insider owned 1,908 shares of the company’s stock, valued at approximately $1,272,464.28. This trade represents a 55.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO traded up $2.26 during trading hours on Friday, hitting $644.27. The stock had a trading volume of 73,856 shares, compared to its average volume of 106,960. The stock’s fifty day simple moving average is $565.75 and its 200 day simple moving average is $550.88. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 1.74 and a beta of 1.29. Cavco Industries, Inc. has a 1-year low of $443.33 and a 1-year high of $713.01.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, October 29th. The construction company reported $7.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.52 by $1.65. Cavco Industries had a return on equity of 16.60% and a net margin of 7.68%. The business had revenue of $656.38 million during the quarter, compared to the consensus estimate of $613.12 million. As a group, research analysts anticipate that Cavco Industries, Inc. will post 24.62 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on CVCO shares. Northland Securities initiated coverage on Cavco Industries in a research note on Wednesday, October 28th. They set an “outperform” rating and a $650.00 target price on the stock. Zelman & Associates cut Cavco Industries from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 6th. Oppenheimer reissued an “outperform” rating and issued a $735.00 price target (up from $720.00) on shares of Cavco Industries in a research note on Monday, November 2nd. Weiss Ratings raised Cavco Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, November 3rd. Finally, Zacks Research upgraded shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Cavco Industries presently has an average rating of “Moderate Buy” and an average target price of $695.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CVCO. Entropy Technologies LP bought a new stake in Cavco Industries during the third quarter worth approximately $719,000. First National Bank of Omaha lifted its position in Cavco Industries by 22.2% in the third quarter. First National Bank of Omaha now owns 782 shares of the construction company’s stock worth $438,000 after purchasing an additional 142 shares during the period. Pillsbury Lake Capital LLC lifted its position in Cavco Industries by 6.2% in the third quarter. Pillsbury Lake Capital LLC now owns 19,938 shares of the construction company’s stock worth $11,170,000 after purchasing an additional 1,166 shares during the period. Marshall Wace LLP lifted its position in Cavco Industries by 0.8% in the third quarter. Marshall Wace LLP now owns 75,416 shares of the construction company’s stock worth $42,253,000 after purchasing an additional 577 shares during the period. Finally, Xcelsior Advisor Partners LLC bought a new position in Cavco Industries during the 3rd quarter valued at $289,000. 95.56% of the stock is currently owned by institutional investors.

About Cavco Industries

Cavco Industries, Inc. designs and manufactures factory-built housing, including manufactured and modular homes, park model recreational vehicles, and related structures. Its homes are sold under a range of brand names and are designed for uses that include permanent residences, vacation homes, and workforce housing. Founded in 1965 and headquartered in Phoenix, Arizona, Cavco serves customers across the United States through a network of independent retailers, company-owned retail locations, and other housing channels.