Cavco Industries (NASDAQ:CVCO) Insider Sells $1,588,579.62 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) insider Brian Cira sold 2,382 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider directly owned 1,908 shares of the company’s stock, valued at $1,272,464.28. This represents a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Cavco Industries Trading Up 0.0%

NASDAQ CVCO traded up $0.30 on Friday, hitting $642.31. 73,856 shares of the company’s stock traded hands, compared to its average volume of 143,367. Cavco Industries, Inc. has a 1-year low of $443.33 and a 1-year high of $713.01. The firm’s 50-day moving average price is $564.08 and its two-hundred day moving average price is $550.82. The firm has a market capitalization of $4.90 billion, a PE ratio of 27.22, a P/E/G ratio of 1.76 and a beta of 1.29.

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

Analysts Set New Price Targets

Several research firms have commented on CVCO. Zelman & Associates lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a report on Thursday, August 6th. Weiss Ratings upgraded Cavco Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, November 3rd. Zacks Research upgraded Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 29th. Northland Securities began coverage on Cavco Industries in a report on Wednesday, October 28th. They issued an “outperform” rating and a $650.00 price objective for the company. Finally, Oppenheimer restated an “outperform” rating and issued a $735.00 target price (up from $720.00) on shares of Cavco Industries in a research note on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cavco Industries has a consensus rating of “Moderate Buy” and a consensus price target of $695.00.

Institutional Investors Weigh In On Cavco Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. Silvant Capital Management LLC acquired a new position in shares of Cavco Industries in the 2nd quarter valued at $25,000. Global Retirement Partners LLC purchased a new stake in Cavco Industries during the second quarter worth $28,000. Root Financial Partners LLC purchased a new stake in Cavco Industries during the third quarter worth $28,000. Signaturefd LLC boosted its holdings in Cavco Industries by 96.3% during the third quarter. Signaturefd LLC now owns 53 shares of the construction company’s stock worth $30,000 after buying an additional 26 shares in the last quarter. Finally, IFP Advisors Inc grew its position in Cavco Industries by 2,850.0% during the second quarter. IFP Advisors Inc now owns 59 shares of the construction company’s stock valued at $36,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 95.56% of the company’s stock.

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.