Cavco Industries (NASDAQ:CVCO) Director Sells $284,495.00 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director Richard Kerley sold 500 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $568.99, for a total value of $284,495.00. Following the sale, the director owned 6,669 shares of the company’s stock, valued at approximately $3,794,594.31. This represents a 6.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cavco Industries Stock Performance

Shares of Cavco Industries stock traded down $3.58 on Wednesday, hitting $572.90. The company had a trading volume of 44,921 shares, compared to its average volume of 122,749. Cavco Industries, Inc. has a 1 year low of $393.53 and a 1 year high of $602.57. The stock has a 50 day moving average of $551.02 and a 200-day moving average of $492.64. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 24.93 and a beta of 1.21.

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. The business had revenue of $556.53 million during the quarter, compared to analyst estimates of $542.92 million. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%. Equities analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVCO. Zacks Research upgraded Cavco Industries from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Wedbush reiterated a “neutral” rating and issued a $550.00 price objective on shares of Cavco Industries in a research report on Monday, August 4th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Cavco Industries in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $550.00.

Hedge Funds Weigh In On Cavco Industries

Hedge funds have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new position in shares of Cavco Industries during the third quarter valued at $31,000. Farther Finance Advisors LLC boosted its holdings in shares of Cavco Industries by 151.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock valued at $38,000 after acquiring an additional 53 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of Cavco Industries by 118.2% in the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after acquiring an additional 65 shares during the period. Parkside Financial Bank & Trust raised 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 valued at $58,000 after purchasing an additional 127 shares during the last quarter. Finally, Mather Group LLC. bought a new position in Cavco Industries during the third quarter valued at approximately $63,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Company Profile

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.