Cavco Industries (NASDAQ:CVCO) Cut to Neutral at Wedbush

Wedbush downgraded shares of Cavco Industries (NASDAQ:CVCO) from an outperform rating to a neutral rating in a research note released on Tuesday morning, Marketbeat.com reports. Wedbush currently has $480.00 price objective on the construction company’s stock.

CVCO has been the subject of a number of other research reports. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Craig Hallum boosted their price objective 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 1.5 %

Shares of NASDAQ:CVCO opened at $511.73 on Tuesday. Cavco Industries has a 12-month low of $288.57 and a 12-month high of $544.08. The business’s fifty day simple moving average is $452.84 and its 200-day simple moving average is $405.06. The company has a market capitalization of $4.15 billion, a PE ratio of 28.93 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, topping 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 firm had revenue of $507.46 million for the quarter, compared to the consensus estimate of $480.10 million. During the same period in the previous year, the business earned $4.76 EPS. Research analysts predict that Cavco Industries will post 18 EPS for the current year.

Insider Activity

In related news, Director Julia Sze sold 125 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the completion of the transaction, the director now owns 2,861 shares of the company’s stock, valued at approximately $1,312,283.48. This represents a 4.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total value of $35,323.20. Following the completion of the transaction, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at $433,913.40. The trade was a 7.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,313 shares of company stock valued at $1,780,681 in the last quarter. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cavco Industries

Large investors have recently bought and sold shares of the business. Blue Trust Inc. raised its holdings in Cavco Industries by 9,900.0% in 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 during the period. Farther Finance Advisors LLC increased its stake in Cavco Industries by 390.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock worth $44,000 after buying an additional 82 shares in the last quarter. Avior Wealth Management LLC purchased a new stake in Cavco Industries during the 3rd quarter worth approximately $64,000. GAMMA Investing LLC increased its stake in Cavco Industries by 30.2% during the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after buying an additional 64 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in Cavco Industries during the 2nd quarter worth approximately $138,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

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.