Cavco Industries (NASDAQ:CVCO) Hits New 52-Week High – Time to Buy?

Cavco Industries, Inc. (NASDAQ:CVCO) shares hit a new 52-week high on Tuesday . The stock traded as high as $604.91 and last traded at $596.19, with a volume of 50022 shares. The stock had previously closed at $572.46.

Wall Street Analyst Weigh In

CVCO has been the topic of a number of recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Cavco Industries in a report on Monday. Zacks Research raised shares of Cavco Industries from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th. Finally, Wedbush reiterated a “neutral” rating and issued a $550.00 price target on shares of Cavco Industries in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $550.00.

Cavco Industries Price Performance

The firm has a market capitalization of $4.75 billion, a P/E ratio of 26.38 and a beta of 1.21. The firm’s 50 day moving average is $554.54 and its two-hundred day moving average is $496.93.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 30th. The construction company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.30 by $0.25. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. The company had revenue of $556.53 million for the quarter, compared to analysts’ expectations of $542.92 million. Analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard A. Kerley sold 500 shares of Cavco Industries stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $568.99, for a total transaction of $284,495.00. Following the completion of the transaction, the director directly owned 6,669 shares in the company, valued at approximately $3,794,594.31. The trade was a 6.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Paul Bigbee sold 300 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $530.45, for a total value of $159,135.00. Following the completion of the sale, the chief accounting officer owned 774 shares in the company, valued at approximately $410,568.30. This trade represents a 27.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Cavco Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. Salomon & Ludwin LLC bought a new stake in shares of Cavco Industries during the third quarter worth approximately $31,000. Farther Finance Advisors LLC grew its holdings in Cavco Industries by 151.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock valued at $38,000 after buying an additional 53 shares in the last quarter. Osaic Holdings Inc. grew its holdings in 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 buying an additional 65 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Cavco Industries by 1,814.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock worth $58,000 after buying an additional 127 shares during the period. Finally, Danske Bank A S acquired a new stake in shares of Cavco Industries during the third quarter worth $58,000. Institutional investors own 95.56% of the company’s stock.

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.