Cavco Industries, Inc. (NASDAQ:CVCO – Get Rating) saw significant growth in short-term interest in September. As of September 15, there was short interest totaling 302,000 shares, a growth of 8.9% from the total of 277,200 shares as of August 31. Based on an average trading volume of 61,800 shares, the short interest ratio is currently 4.9 days. Approximately 3.7% of the company’s shares are sold short.

Cavco Industries sources 4.3%

Shares of NASDAQ CVCO opened at $214.56 on Tuesday. The company’s 50-day moving average price is $240.58 and its two-hundred-day moving average price is $231.56. Cavco Industries has a 52-week low of $179.47 and a 52-week high of $327.24. The stock has a market capitalization of $1.91 billion, a P/E ratio of 8.56 and a beta of 1.16.

Cavco Industries (NASDAQ:CVCO – Get Rating) last released its quarterly results on Thursday, August 4. The construction company reported earnings per share of $6.63 for the quarter, beating consensus analyst estimates of $3.95 from $2.68. Cavco Industries had a return on equity of 24.87% and a net margin of 12.22%. The company posted revenue of $588.34 million for the quarter, compared to $402.00 million expected by analysts. As a group, equity research analysts expect Cavco Industries to post earnings per share of 24.05 for the current year.

Institutional investors weigh in on Cavco Industries

A number of institutional investors have recently changed their stock portfolios. Gibson Wealth Advisors LLC acquired a new position in Cavco Industries during Q4 worth $64,000. US Bancorp DE increased its stake in Cavco Industries by 25.2% in the first quarter. US Bancorp DE now owns 388 shares of the construction company valued at $94,000 after acquiring 78 additional shares during the period. Captrust Financial Advisors increased its stake in Cavco Industries by 31.4% in the second quarter. Captrust Financial Advisors now owns 393 shares of the construction company valued at $77,000 after acquiring 94 additional shares during the period. Meeder Asset Management Inc. increased its stake in Cavco Industries by 13,920.0% in the second quarter. Meeder Asset Management Inc. now owns 701 shares of the construction company valued at $137,000 after acquiring an additional 696 shares during the period. Finally, KBC Group NV acquired a new stake in Cavco Industries in the second quarter worth approximately $145,000. Institutional investors and hedge funds own 99.61% of the company’s shares.

Analyst upgrades and downgrades

Several brokerages have recently weighed in on CVCO. Wedbush upgraded Cavco Industries from a “neutral” rating to an “outperforming” rating and raised its target price for the company from $315.00 to $385.00 in a Friday, August 5 research note. Craig Hallum raised his price target on Cavco Industries to $335.00 in a Monday, August 15 research note. Finally, StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a Friday, July 1 research note.

About Cavco Industries

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Cavco Industries, Inc designs, produces and retails manufactured homes primarily in the United States. It operates in two segments, prefab housing and financial services. The company markets its manufactured homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood and MidCountry brands.

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