Cavco Industries (NASDAQ:CVCO) Stock: Insider Richard Kerley Sells 459 Shares

Cavco Industries, Inc. (NASDAQ:CVCO) Director Richard Kerley sold 459 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $676.87, for a total transaction of $310,683.33. Following the transaction, the director directly owned 6,000 shares in the company, valued at $4,061,220. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Cavco Industries Price Performance

Cavco Industries stock traded down $34.76 during trading hours on Thursday, hitting $643.97. The company had a trading volume of 163,308 shares, compared to its average volume of 145,067. The firm has a market capitalization of $4.91 billion, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 1.76 and a beta of 1.29. The firm’s fifty day moving average is $553.82 and its 200-day moving average is $551.75. Cavco Industries, Inc. has a fifty-two week low of $443.33 and a fifty-two week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 29th. The construction company reported $7.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.52 by $1.65. The company had revenue of $656.38 million during the quarter, compared to analyst estimates of $613.12 million. Cavco Industries had a net margin of 7.68% and a return on equity of 16.60%. Analysts anticipate that Cavco Industries, Inc. will post 24.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Zelman & Associates lowered Cavco Industries from an “outperform” rating to a “neutral” rating in a report on Thursday, August 6th. Zacks Research upgraded Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 29th. 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. Weiss Ratings raised Cavco Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Finally, Northland Securities assumed coverage on Cavco Industries in a research note on Wednesday, October 28th. They set an “outperform” rating and a $650.00 price target for the company. One investment 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 stock. Based on data from MarketBeat.com, Cavco Industries presently has a consensus rating of “Moderate Buy” and an average target price of $695.00.

Institutional Trading of Cavco Industries

A number of institutional investors have recently added to or reduced their stakes in the business. Silvant Capital Management LLC acquired a new position in Cavco Industries during the second quarter valued at approximately $25,000. Global Retirement Partners LLC bought a new position in shares of Cavco Industries in the second quarter valued at approximately $28,000. Root Financial Partners LLC acquired a new stake in shares of Cavco Industries in the third quarter worth $28,000. Signaturefd LLC lifted its stake in shares of Cavco Industries by 96.3% in the third quarter. Signaturefd LLC now owns 53 shares of the construction company’s stock worth $30,000 after buying an additional 26 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of Cavco Industries by 2,850.0% during the 2nd quarter. IFP Advisors Inc now owns 59 shares of the construction company’s stock worth $36,000 after buying an additional 57 shares during the period. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cavco Industries Company Profile

Cavco Industries, Inc is a manufacturer of factory-built housing and related products. The company designs and produces manufactured homes, modular homes, park model recreational vehicles, and commercial structures for residential, hospitality, and other applications. Its homes are sold through independent retailers, company-owned retail locations, and a network of housing dealers.

Cavco markets its products under several brands, including Cavco, Fleetwood Homes, Palm Harbor Homes, Nationwide Homes, Solitaire Homes, and CountryPlace.