Cavco Industries (NASDAQ:CVCO) Cut to Hold at StockNews.com

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

Separately, Wedbush reissued a “neutral” rating and set a $550.00 target price (up from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd.

Cavco Industries Price Performance

Cavco Industries stock opened at $486.33 on Wednesday. Cavco Industries has a 1-year low of $331.08 and a 1-year high of $544.08. The company’s 50-day moving average is $516.75 and its 200 day moving average is $476.98. The firm has a market capitalization of $3.94 billion, a P/E ratio of 23.93 and a beta of 1.34.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share for the quarter, topping the consensus estimate of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. Research analysts anticipate that Cavco Industries will post 21.93 earnings per share for the current fiscal year.

Insider Activity

In other Cavco Industries news, Director Susan L. Blount sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $507.18, for a total transaction of $1,014,360.00. Following the transaction, the director now directly owns 2,836 shares in the company, valued at $1,438,362.48. This trade represents a 41.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Matthew A. Nino sold 894 shares of Cavco Industries stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $529.03, for a total value of $472,952.82. Following the sale, the insider now directly owns 771 shares of the company’s stock, valued at approximately $407,882.13. This trade represents a 53.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,644 shares of company stock valued at $4,494,608. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in shares of Cavco Industries by 118.8% in the 4th quarter. FMR LLC now owns 296,343 shares of the construction company’s stock valued at $132,237,000 after purchasing an additional 160,899 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Cavco Industries by 1,030.9% during the fourth quarter. Janus Henderson Group PLC now owns 72,534 shares of the construction company’s stock valued at $32,371,000 after buying an additional 66,120 shares during the period. Loomis Sayles & Co. L P purchased a new position in Cavco Industries during the fourth quarter valued at approximately $20,382,000. Norges Bank bought a new position in Cavco Industries in the fourth quarter worth approximately $17,730,000. Finally, Invesco Ltd. lifted its holdings in Cavco Industries by 18.7% during the fourth quarter. Invesco Ltd. now owns 182,457 shares of the construction company’s stock worth $81,418,000 after buying an additional 28,730 shares during the period. 95.56% of the stock is currently owned by 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.