Cavco Industries (NASDAQ:CVCO) Sets New 52-Week High – Still a 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. The stock had previously closed at $667.70.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. CJS Securities raised shares of Cavco Industries to a “strong-buy” rating in a report on Thursday, December 11th. Zacks Research cut Cavco Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cavco Industries in a report on Monday, December 29th. 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $550.00.

Cavco Industries Stock Performance

The business has a fifty day simple moving average of $593.99 and a 200 day simple moving average of $535.24. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 28.33 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 (EPS) for the quarter, beating the consensus estimate of $6.30 by $0.25. The business had revenue of $556.53 million for the quarter, compared to the consensus estimate 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 anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Activity at Cavco Industries

In other news, Director Richard A. Kerley sold 500 shares of Cavco Industries stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $568.99, for a total transaction of $284,495.00. Following the completion of the sale, the director directly owned 6,669 shares in the company, valued at $3,794,594.31. The trade was a 6.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Cavco Industries

A number of hedge funds have recently bought and sold shares of the company. Hunter Perkins Capital Management LLC grew its holdings 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 purchasing an additional 517 shares during the period. Cascade Investment Advisors Inc. purchased a new position in Cavco Industries in the second quarter valued at approximately $1,098,000. State of Alaska Department of Revenue raised its holdings in Cavco Industries by 7.4% in the second quarter. State of Alaska Department of Revenue now owns 4,769 shares of the construction company’s stock valued at $2,070,000 after buying an additional 329 shares during the period. Confluence Investment Management LLC lifted its position in Cavco Industries by 62.6% during the third quarter. Confluence Investment Management LLC now owns 12,287 shares of the construction company’s stock valued at $7,135,000 after buying an additional 4,729 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Cavco Industries during the third quarter worth approximately $819,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

About Cavco Industries

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.