StockNews.com downgraded shares of Cavco Industries (NASDAQ:CVCO - Free Report) from a buy rating to a hold rating in a research report released on Wednesday.
Separately, Wedbush restated a "neutral" rating and issued a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd.
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Cavco Industries Stock Performance
Shares of NASDAQ CVCO traded down $21.81 during trading on Wednesday, hitting $467.13. The company had a trading volume of 32,357 shares, compared to its average volume of 63,164. The stock has a 50 day simple moving average of $517.10 and a 200 day simple moving average of $478.11. The firm has a market capitalization of $3.79 billion, a P/E ratio of 23.08 and a beta of 1.19. Cavco Industries has a 12 month low of $331.08 and a 12 month high of $544.08.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, topping analysts' consensus estimates of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. As a group, analysts predict that Cavco Industries will post 21.93 EPS for the current year.
Insiders Place Their Bets
In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total value of $2,115,520.00. Following the sale, the director now owns 15,286 shares in the company, valued at $8,084,459.68. This trade represents a 20.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Susan L. Blount sold 750 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $471.70, for a total transaction of $353,775.00. Following the sale, the director now directly owns 2,836 shares of the company's stock, valued at $1,337,741.20. This represents a 20.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,644 shares of company stock valued at $4,494,608 over the last ninety days. 1.60% of the stock is owned by insiders.
Institutional Investors Weigh In On Cavco Industries
Several large investors have recently added to or reduced their stakes in the stock. Ashford Capital Management Inc. raised its stake in shares of Cavco Industries by 1.1% during the fourth quarter. Ashford Capital Management Inc. now owns 58,295 shares of the construction company's stock valued at $26,013,000 after acquiring an additional 625 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Cavco Industries by 22.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,492 shares of the construction company's stock valued at $6,913,000 after purchasing an additional 2,802 shares in the last quarter. Vident Advisory LLC lifted its holdings in shares of Cavco Industries by 574.2% in the 4th quarter. Vident Advisory LLC now owns 3,553 shares of the construction company's stock worth $1,585,000 after buying an additional 3,026 shares during the period. Squarepoint Ops LLC bought a new position in shares of Cavco Industries during the 4th quarter worth $267,000. Finally, State of Wyoming increased its stake in shares of Cavco Industries by 0.8% during the fourth quarter. State of Wyoming now owns 3,066 shares of the construction company's stock valued at $1,368,000 after buying an additional 24 shares during the period. 95.56% of the stock is owned by hedge funds and other institutional investors.
About Cavco Industries
(
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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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