Cavco Industries (NASDAQ:CVCO) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $555.56 and traded as high as $624.99. Cavco Industries shares last traded at $611.60, with a volume of 173,771 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CVCO shares. UBS Group started coverage on shares of Cavco Industries in a report on Friday, June 5th. They set a “buy” rating and a $700.00 target price on the stock. Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $625.00.

Cavco Industries Stock Performance

The firm has a 50-day moving average price of $535.96 and a two-hundred day moving average price of $556.20. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 25.76 and a beta of 1.30.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, beating the consensus estimate of $5.30 by $0.12. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. The company had revenue of $550.13 million for the quarter, compared to analyst estimates of $571.06 million. Research analysts anticipate that Cavco Industries, Inc. will post 25 earnings per share for the current year.

Insider Activity at Cavco Industries

In related news, Director Richard A. Kerley sold 500 shares of Cavco Industries stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $588.76, for a total transaction of $294,380.00. Following the sale, the director directly owned 6,169 shares in the company, valued at $3,632,060.44. This trade represents a 7.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Paul Bigbee sold 200 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $537.75, for a total transaction of $107,550.00. Following the completion of the transaction, the chief accounting officer owned 1,105 shares of the company’s stock, valued at $594,213.75. This represents a 15.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,068 shares of company stock valued at $1,201,307 in the last ninety days. Insiders own 1.70% of the company’s stock.

Institutional Trading of Cavco Industries

Large investors have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new position in Cavco Industries during the fourth quarter worth approximately $46,000. Kemnay Advisory Services Inc. purchased a new position in shares of Cavco Industries during the fourth quarter worth approximately $50,000. Los Angeles Capital Management LLC purchased a new position in shares of Cavco Industries during the fourth quarter worth approximately $54,000. Osaic Holdings Inc. increased its holdings in shares of Cavco Industries by 118.2% in the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock valued at $57,000 after acquiring an additional 65 shares during the period. Finally, Danske Bank A S acquired a new position in shares of Cavco Industries in the 3rd quarter valued at $58,000. 95.56% of the stock is owned by institutional investors and hedge funds.

About Cavco Industries

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.