Cavco Industries (NASDAQ:CVCO) Shares Gap Down – Here’s Why

by · The Cerbat Gem

Cavco Industries, Inc. (NASDAQ:CVCO – Get Free Report)’s share price gapped down prior to trading on Monday . The stock had previously closed at $448.26, but opened at $434.77. Cavco Industries shares last traded at $429.86, with a volume of 7,510 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Craig Hallum increased their price objective on Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Wedbush raised their price target on Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a report on Friday, October 11th.

Check Out Our Latest Research Report on Cavco Industries

Cavco Industries Stock Performance

The stock’s 50 day simple moving average is $414.72 and its 200 day simple moving average is $384.10. The firm has a market cap of $3.54 billion, a PE ratio of 23.69 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO – Get Free Report) last announced 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). Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. The company had revenue of $477.60 million during the quarter, compared to analysts’ expectations of $487.80 million. During the same quarter last year, the firm posted $5.29 earnings per share. As a group, analysts anticipate that Cavco Industries, Inc. will post 17.35 earnings per share for the current year.

Insider Activity

In related news, CAO Paul Bigbee sold 88 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total value of $35,323.20. Following the completion of the sale, the chief accounting officer now 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 filing with the SEC, which is available through the SEC website. In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the transaction, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Steven K. Like sold 575 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $366.62, for a total transaction of $210,806.50. Following the completion of the sale, the senior vice president now owns 1,255 shares of the company’s stock, valued at approximately $460,108.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,663 shares of company stock worth $1,882,930. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cavco Industries

A number of hedge funds and other institutional investors have recently modified their holdings of CVCO. Blue Trust Inc. grew its position in Cavco Industries by 9,900.0% during 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. Mather Group LLC. purchased a new position in shares of Cavco Industries in the first quarter worth $60,000. GAMMA Investing LLC raised its holdings in Cavco Industries by 30.2% during the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after buying an additional 64 shares during the last quarter. nVerses Capital LLC purchased a new stake in Cavco Industries during the 2nd quarter valued at $138,000. Finally, SG Americas Securities LLC purchased a new stake in Cavco Industries during the 1st quarter valued at $197,000. Institutional investors own 95.56% of the company’s stock.

About Cavco Industries

(Get Free Report)

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.

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