Cavco Industries (NASDAQ:CVCO) Shares Gap Up – Should You Buy?

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $409.80, but opened at $442.25. Cavco Industries shares last traded at $441.51, with a volume of 5,320 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVCO. Craig Hallum lifted their target price on Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Wedbush boosted their price objective on shares of Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a research report on Friday, October 11th.

Cavco Industries Trading Up 9.0 %

The firm has a market capitalization of $3.69 billion, a P/E ratio of 26.02 and a beta of 1.24. The stock has a 50-day simple moving average of $421.15 and a two-hundred day simple moving average of $387.01.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.97 by ($0.86). The business had revenue of $477.60 million for the quarter, compared to the consensus estimate of $487.80 million. Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. During the same quarter in the previous year, the company earned $5.29 earnings per share. As a group, research analysts expect that Cavco Industries, Inc. will post 17.35 EPS for the current year.

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the sale, the chief accounting officer now owns 1,081 shares in the company, valued at approximately $433,913.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Paul Bigbee sold 88 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total value of $35,323.20. Following the completion of the transaction, the chief accounting officer now directly owns 1,081 shares in the company, valued at $433,913.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the sale, the director now directly owns 6,547 shares in the company, valued at approximately $2,679,032.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,663 shares of company stock valued at $1,882,930. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Blue Trust Inc. increased its stake in shares of Cavco Industries by 9,900.0% in the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after acquiring an additional 99 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Cavco Industries by 390.5% during the third quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock worth $44,000 after purchasing an additional 82 shares during the period. GAMMA Investing LLC boosted its holdings in Cavco Industries by 30.2% in the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after purchasing an additional 64 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Cavco Industries in the 2nd quarter valued at approximately $138,000. Finally, SG Americas Securities LLC acquired a new position in Cavco Industries in the first quarter valued at approximately $197,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

About Cavco Industries

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.