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

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

CVCO has been the subject of several other reports. Craig Hallum lifted their price objective on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Wedbush downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target for the company. in a report on Tuesday, December 3rd.

Cavco Industries Stock Performance

CVCO opened at $455.30 on Friday. Cavco Industries has a one year low of $304.10 and a one year high of $544.08. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 25.74 and a beta of 1.29. The business’s fifty day moving average is $467.81 and its two-hundred day moving average is $417.00.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. The firm had revenue of $507.46 million for 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 in the prior year, the company earned $4.76 EPS. On average, analysts predict that Cavco Industries will post 18 EPS for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In other news, Director Julia Sze sold 125 shares of Cavco Industries stock in a transaction dated Friday, November 8th. The shares were 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 directly owns 2,861 shares of the company’s stock, valued at approximately $1,312,283.48. The trade was a 4.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 completion of the sale, the director now directly owns 2,086 shares in the company, valued at $1,012,878.16. This represents a 26.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,100 shares of company stock valued at $535,642 over the last three months. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cavco Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in shares of 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 purchasing an additional 12,822 shares in the last quarter. FMR LLC boosted its holdings in Cavco Industries by 7.0% during the third quarter. FMR LLC now owns 135,444 shares of the construction company’s stock worth $58,002,000 after buying an additional 8,829 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Cavco Industries by 5.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company’s stock worth $46,872,000 after acquiring an additional 5,935 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Cavco Industries by 8.5% during the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock worth $30,614,000 after buying an additional 5,620 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Cavco Industries by 1,610.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock valued at $26,052,000 after purchasing an additional 57,278 shares during the period. 95.56% of the stock is currently owned by 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.