Cavco Industries (NASDAQ:CVCO) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $547.26 and traded as low as $527.01. Cavco Industries shares last traded at $548.72, with a volume of 138,133 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CVCO shares. Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 29th. Zelman & Associates downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a report on Thursday, August 6th. Oppenheimer began coverage on Cavco Industries in a report on Wednesday, September 30th. They issued an “outperform” rating and a $720.00 price objective on the stock. Finally, Weiss Ratings raised shares of Cavco Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Cavco Industries has a consensus rating of “Moderate Buy” and a consensus price target of $710.00.

Cavco Industries Trading Down 3.0%

The company has a market capitalization of $4.09 billion, a PE ratio of 23.17 and a beta of 1.27. The business has a fifty day moving average of $564.46 and a 200 day moving average of $547.15.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $5.43 EPS for the quarter, missing analysts’ consensus estimates of $5.69 by ($0.26). Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%. The company had revenue of $609.96 million for the quarter, compared to analyst estimates of $590.54 million. Equities analysts forecast that Cavco Industries, Inc. will post 22.66 EPS for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 342 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $592.00, for a total transaction of $202,464.00. Following the transaction, the chief accounting officer owned 736 shares in the company, valued at approximately $435,712. The trade was a 31.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CVCO. Diversified Management Inc. purchased a new position in shares of Cavco Industries during the 3rd quarter worth $1,707,000. GAMMA Investing LLC lifted its position in Cavco Industries by 23.1% during the third quarter. GAMMA Investing LLC now owns 511 shares of the construction company’s stock valued at $286,000 after buying an additional 96 shares in the last quarter. Versant Capital Management Inc boosted its position in Cavco Industries by 82.9% during the 3rd quarter. Versant Capital Management Inc now owns 75 shares of the construction company’s stock worth $42,000 after purchasing an additional 34 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Cavco Industries in the second quarter valued at about $153,000. Finally, IFP Advisors Inc raised its stake in shares of Cavco Industries by 2,850.0% during the second quarter. IFP Advisors Inc now owns 59 shares of the construction company’s stock valued at $36,000 after purchasing an additional 57 shares during the period. 95.56% of the stock is owned by hedge funds and other institutional investors.

Cavco Industries Company Profile

Cavco Industries, Inc is a manufacturer of factory-built housing headquartered in Phoenix, Arizona. The company produces manufactured homes, modular homes, park model recreational vehicles, and related structures designed for residential and vacation use. Its homes are sold through independent retailers, company-owned retail locations, and housing developers.

Cavco markets products under several brands, including Cavco, Fleetwood Homes, Palm Harbor Homes, and Solitaire Homes. In addition to manufacturing, the company provides consumer financing through CountryPlace Mortgage and property and casualty insurance through Standard Casualty.