Cavco Industries (NASDAQ:CVCO) Reaches New 52-Week High – Should You Buy?

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) hit a new 52-week high on Wednesday . The stock traded as high as $618.93 and last traded at $618.52, with a volume of 98922 shares trading hands. The stock had previously closed at $601.62.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CVCO shares. Weiss Ratings reissued a “buy (b)” rating on shares of Cavco Industries in a research note on Monday, December 29th. Zacks Research lowered shares of Cavco Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, CJS Securities upgraded shares of Cavco Industries to a “strong-buy” rating in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $550.00.

Cavco Industries Stock Up 1.9%

The stock’s 50-day moving average price is $577.87 and its 200 day moving average price is $525.90. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 25.20 and a beta of 1.31.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $6.30 by $0.25. Cavco Industries had a net margin of 9.18% and a return on equity of 19.13%. The firm had revenue of $556.53 million for the quarter, compared to analyst estimates of $542.92 million. On average, research analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Insider Activity at Cavco Industries

In other news, Director Richard A. Kerley sold 500 shares of Cavco Industries stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $568.99, for a total transaction of $284,495.00. Following the transaction, the director owned 6,669 shares in the company, valued at $3,794,594.31. The trade was a 6.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cavco Industries

A number of large investors have recently bought and sold shares of CVCO. 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. increased its position in Cavco Industries by 118.2% during the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after buying an additional 65 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Cavco Industries by 1,814.3% during the second quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock worth $58,000 after buying an additional 127 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in shares of Cavco Industries during the third quarter worth $58,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

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.