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

Cavco Industries (NASDAQ:CVCO) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Other analysts have also issued research reports about the company. Craig Hallum increased their price objective on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wedbush lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 target price on the stock. in a report on Tuesday, December 3rd.

Cavco Industries Trading Down 2.2 %

NASDAQ:CVCO opened at $442.22 on Friday. Cavco Industries has a twelve month low of $304.10 and a twelve month high of $544.08. The company has a market capitalization of $3.59 billion, a P/E ratio of 25.00 and a beta of 1.29. The firm has a 50-day moving average price of $467.14 and a two-hundred day moving average price of $415.36.

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

Insiders Place Their Bets

In related news, Director Susan L. Blount sold 750 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $485.56, for a total value of $364,170.00. Following the completion of the sale, the director now directly owns 2,086 shares in the company, valued at approximately $1,012,878.16. The trade was a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the director now directly owns 2,861 shares in the company, valued at approximately $1,312,283.48. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,100 shares of company stock valued at $535,642 in the last quarter. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cavco Industries

Several hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. increased 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 purchasing an additional 99 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Cavco Industries by 390.5% during the third quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock worth $44,000 after buying an additional 82 shares during the period. Avior Wealth Management LLC acquired a new stake in shares of Cavco Industries in the third quarter worth $64,000. GAMMA Investing LLC raised its stake in shares of Cavco Industries by 30.2% in the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after acquiring an additional 64 shares during the period. Finally, nVerses Capital LLC acquired a new position in shares of Cavco Industries during the 2nd quarter valued at $138,000. 95.56% of the stock is owned by institutional investors and hedge funds.

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.