Cavco Industries (NASDAQ:CVCO) Hits New 12-Month High – Should You Buy?

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $617.54 and last traded at $615.3570, with a volume of 205354 shares traded. The stock had previously closed at $599.11.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Cavco Industries in a report on Monday. Zacks Research downgraded shares of Cavco Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, CJS Securities upgraded shares of Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $550.00.

Cavco Industries Stock Performance

The firm has a market capitalization of $4.72 billion, a P/E ratio of 24.86 and a beta of 1.28. The stock has a fifty day moving average price of $567.86 and a two-hundred day moving average price of $509.05.

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, topping analysts’ consensus estimates of $6.30 by $0.25. The firm had revenue of $556.53 million for the quarter, compared to analysts’ expectations of $542.92 million. Cavco Industries had a net margin of 9.18% and a return on equity of 19.13%. As a group, research analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard A. Kerley sold 500 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $568.99, for a total value of $284,495.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CVCO. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cavco Industries by 12.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock valued at $86,000 after buying an additional 22 shares in the last quarter. Sheets Smith Wealth Management grew its stake in Cavco Industries by 1.4% during the 3rd quarter. Sheets Smith Wealth Management now owns 2,245 shares of the construction company’s stock valued at $1,304,000 after acquiring an additional 31 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Cavco Industries by 3.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 872 shares of the construction company’s stock valued at $506,000 after purchasing an additional 32 shares during the period. Guidance Capital Inc. lifted its position in shares of Cavco Industries by 3.3% in the third quarter. Guidance Capital Inc. now owns 1,122 shares of the construction company’s stock worth $663,000 after purchasing an additional 36 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Cavco Industries by 2.6% during the first quarter. HighTower Advisors LLC now owns 1,571 shares of the construction company’s stock worth $816,000 after purchasing an additional 40 shares during the period. 95.56% of the stock is owned by institutional investors and hedge funds.

Cavco Industries Company Profile

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.