Cavco Industries (NASDAQ:CVCO) Rating Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Cavco Industries (NASDAQ:CVCO) from a buy rating to a hold rating in a report released on Friday morning.

Several other equities research analysts also recently weighed in on CVCO. Wedbush downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 target price on the stock. in a research note on Tuesday, December 3rd. Craig Hallum boosted their target price on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Cavco Industries Trading Up 3.0 %

Shares of NASDAQ:CVCO opened at $455.30 on Friday. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 25.74 and a beta of 1.29. Cavco Industries has a 12 month low of $304.10 and a 12 month high of $544.08. The company has a 50-day moving average price of $467.81 and a 200 day moving average price of $416.06.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.58. The business had revenue of $507.46 million during the quarter, compared to analyst estimates of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same period last year, the company earned $4.76 EPS. As a group, equities analysts forecast that Cavco Industries will post 18 EPS for the current year.

Insider Transactions at Cavco Industries

In other Cavco Industries news, Director Julia Sze sold 125 shares of Cavco Industries stock in a transaction on Monday, December 9th. The stock was sold at an average price of $503.31, for a total transaction of $62,913.75. Following the completion of the sale, the director now directly owns 2,736 shares of the company’s stock, valued at $1,377,056.16. The trade was a 4.37 % decrease in their position. The sale 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 stock in a transaction on Friday, December 13th. The stock was sold at an average price of $485.56, for a total value of $364,170.00. Following the transaction, the director now directly owns 2,086 shares in the company, valued at $1,012,878.16. The trade was a 26.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,100 shares of company stock worth $535,642. Insiders own 1.60% of the company’s stock.

Institutional Trading of Cavco Industries

A number of hedge funds have recently added to or reduced their stakes in CVCO. SkyView Investment Advisors LLC raised its holdings in shares of Cavco Industries by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company’s stock valued at $767,000 after purchasing an additional 31 shares in the last quarter. Virtu Financial LLC purchased a new position in Cavco Industries during the third quarter valued at approximately $637,000. Coldstream Capital Management Inc. bought a new position in Cavco Industries in the third quarter worth approximately $213,000. Geode Capital Management LLC boosted its position in Cavco Industries by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock valued at $96,107,000 after acquiring an additional 12,822 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Cavco Industries by 162.0% in the 3rd quarter. Barclays PLC now owns 17,234 shares of the construction company’s stock valued at $7,381,000 after acquiring an additional 10,656 shares during the period. 95.56% of the stock is owned by hedge funds and other institutional investors.

About Cavco Industries

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.