Credit Suisse AG Boosts Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Credit Suisse AG increased its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO – Get Rating) by 24.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 9,519 shares of the construction company’s stock after purchasing an additional 1,886 shares during the period. Credit Suisse AG owned approximately 0.11% of Cavco Industries worth $1,958,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of Cavco Industries by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 382,763 shares of the construction company’s stock worth $78,759,000 after purchasing an additional 5,731 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Cavco Industries by 209.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,707 shares of the construction company’s stock worth $557,000 after purchasing an additional 1,833 shares during the period. UBS Group AG boosted its position in shares of Cavco Industries by 47.4% during the 3rd quarter. UBS Group AG now owns 32,117 shares of the construction company’s stock worth $6,608,000 after purchasing an additional 10,334 shares during the period. Boston Partners purchased a new position in shares of Cavco Industries during the 3rd quarter worth approximately $576,000. Finally, Jackson Creek Investment Advisors LLC purchased a new position in shares of Cavco Industries during the 3rd quarter worth approximately $850,000. Hedge funds and other institutional investors own 93.32% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wedbush increased their target price on shares of Cavco Industries from $385.00 to $410.00 and gave the stock an “outperform” rating in a report on Monday, February 6th. StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Craig Hallum reduced their target price on shares of Cavco Industries from $335.00 to $290.00 in a report on Monday, November 7th.

Cavco Industries Trading Up 1.4 %

Shares of CVCO opened at $293.51 on Monday. Cavco Industries, Inc. has a twelve month low of $179.47 and a twelve month high of $299.36. The firm’s fifty day simple moving average is $263.69 and its 200-day simple moving average is $237.87. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 10.74 and a beta of 1.19.

Cavco Industries (NASDAQ:CVCO – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The construction company reported $6.66 earnings per share for the quarter, beating analysts’ consensus estimates of $5.85 by $0.81. Cavco Industries had a net margin of 11.37% and a return on equity of 27.69%. The business had revenue of $500.60 million for the quarter, compared to analyst estimates of $540.20 million. On average, analysts predict that Cavco Industries, Inc. will post 27.36 earnings per share for the current fiscal year.

Cavco Industries Company Profile

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Cavco Industries, Inc engages in the development of residential modular structures. It offers manufactured homes, modular homes, park model RVs and cabins, commercial structures, mortgage lending, and insurance. The firm’s brands include Cavco, Fleetwood, Palm Harbor and Fairmont, Friendship, Chariot Eagle and Destiny.