Cavco Industries (NASDAQ:CVCO) Lowered to "Hold" Rating by StockNews.com

Cavco Industries (NASDAQ:CVCO - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday.

A number of other equities research analysts have also recently issued reports on CVCO. Wedbush cut Cavco Industries from an "outperform" rating to a "neutral" rating and set a $480.00 price objective on the stock. in a research note on Tuesday, December 3rd. Craig Hallum raised their target price on Cavco Industries from $422.00 to $495.00 and gave the company a "buy" rating in a report on Monday, November 4th.

Cavco Industries Trading Down 0.6 %

CVCO traded down $2.99 during trading on Wednesday, hitting $497.01. The stock had a trading volume of 38,465 shares, compared to its average volume of 64,075. Cavco Industries has a 12 month low of $301.56 and a 12 month high of $544.08. The firm has a market cap of $4.03 billion, a PE ratio of 28.10 and a beta of 1.29. The company has a 50 day simple moving average of $461.32 and a 200-day simple moving average of $410.70.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.70 by $0.58. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The business had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. During the same quarter in the previous year, the firm earned $4.76 EPS. As a group, sell-side analysts anticipate that Cavco Industries will post 18 earnings per share for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 100 shares of the company's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $512.23, for a total transaction of $51,223.00. Following the transaction, the chief accounting officer now owns 981 shares in the company, valued at approximately $502,497.63. This represents a 9.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Julia Sze sold 125 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $458.68, for a total transaction of $57,335.00. Following the completion of the transaction, the director now owns 2,861 shares in the company, valued at $1,312,283.48. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,350 shares of company stock worth $1,808,272. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cavco Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. Verus Capital Partners LLC raised its position in Cavco Industries by 4.5% during the 2nd quarter. Verus Capital Partners LLC now owns 653 shares of the construction company's stock valued at $226,000 after purchasing an additional 28 shares in the last quarter. Amalgamated Bank grew its position in shares of Cavco Industries by 1.2% in the third quarter. Amalgamated Bank now owns 2,428 shares of the construction company's stock valued at $1,040,000 after purchasing an additional 29 shares in the last quarter. SkyView Investment Advisors LLC raised its stake in Cavco Industries by 1.8% during the third quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company's stock worth $767,000 after purchasing an additional 31 shares during the period. Thrivent Financial for Lutherans raised its holdings in Cavco Industries by 0.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 9,493 shares of the construction company's stock valued at $4,066,000 after buying an additional 37 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of Cavco Industries by 1.9% in the second quarter. Arizona State Retirement System now owns 2,103 shares of the construction company's stock valued at $728,000 after buying an additional 39 shares in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Cavco Industries Company Profile

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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