Cavco Industries (NASDAQ:CVCO) Sets New 52-Week High – Should You Buy?

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) reached a new 52-week high during trading on Tuesday . The company traded as high as $682.59 and last traded at $677.03, with a volume of 216120 shares trading hands. The stock had previously closed at $667.70.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVCO. Weiss Ratings restated a “buy (b)” rating on shares of Cavco Industries in a report on Monday, December 29th. Zacks Research cut Cavco Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Finally, CJS Securities upgraded Cavco Industries to a “strong-buy” rating in a report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Cavco Industries currently has an average rating of “Moderate Buy” and a consensus price target of $550.00.

Cavco Industries Price Performance

The business has a 50 day simple moving average of $588.46 and a 200 day simple moving average of $532.41. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 27.82 and a beta of 1.31.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, October 30th. The construction company reported $6.55 earnings per share 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 analysts’ expectations of $542.92 million. Cavco Industries had a return on equity of 19.13% and a net margin of 9.18%. On average, equities research analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Insiders Place Their Bets

In other Cavco Industries news, Director Richard A. Kerley sold 500 shares of Cavco Industries stock in a transaction dated 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 directly owned 6,669 shares of the company’s stock, valued at $3,794,594.31. The trade was a 6.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CVCO. Hunter Perkins Capital Management LLC lifted its position in shares of Cavco Industries by 23.7% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 2,700 shares of the construction company’s stock worth $1,173,000 after buying an additional 517 shares during the last quarter. Cascade Investment Advisors Inc. purchased a new position in shares of Cavco Industries in the 2nd quarter valued at $1,098,000. State of Alaska Department of Revenue raised its stake in Cavco Industries by 7.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,769 shares of the construction company’s stock worth $2,070,000 after acquiring an additional 329 shares in the last quarter. Confluence Investment Management LLC lifted its position in Cavco Industries by 62.6% in the third quarter. Confluence Investment Management LLC now owns 12,287 shares of the construction company’s stock valued at $7,135,000 after acquiring an additional 4,729 shares during the last quarter. Finally, AXQ Capital LP acquired a new position in Cavco Industries in the second quarter valued at $411,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

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.