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

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

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

Cavco Industries Stock Performance

Cavco Industries stock opened at $527.56 on Wednesday. Cavco Industries has a 1 year low of $331.08 and a 1 year high of $544.08. The firm’s 50-day moving average is $516.55 and its 200-day moving average is $476.92. The company has a market cap of $4.28 billion, a P/E ratio of 25.96 and a beta of 1.34.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, beating analysts’ consensus estimates of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. As a group, sell-side analysts predict that Cavco Industries will post 21.93 earnings per share for the current year.

Insider Transactions at Cavco Industries

In other news, Director David A. Greenblatt sold 4,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the transaction, the director now directly owns 15,286 shares of the company’s stock, valued at approximately $8,084,459.68. This trade represents a 20.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan L. Blount sold 2,000 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $507.18, for a total transaction of $1,014,360.00. Following the completion of the transaction, the director now owns 2,836 shares of the company’s stock, valued at $1,438,362.48. This represents a 41.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,644 shares of company stock worth $4,494,608. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

A number of institutional investors have recently added to or reduced their stakes in CVCO. State of Wyoming lifted its stake in Cavco Industries by 0.8% during the fourth quarter. State of Wyoming now owns 3,066 shares of the construction company’s stock valued at $1,368,000 after purchasing an additional 24 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in Cavco Industries by 3.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 866 shares of the construction company’s stock worth $386,000 after purchasing an additional 30 shares in the last quarter. SkyView Investment Advisors LLC raised its holdings in Cavco Industries by 1.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company’s stock worth $767,000 after buying an additional 31 shares during the period. Ancora Advisors LLC lifted its stake in Cavco Industries by 0.4% during the fourth quarter. Ancora Advisors LLC now owns 10,070 shares of the construction company’s stock valued at $4,494,000 after buying an additional 40 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Cavco Industries by 15.2% in the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock worth $142,000 after buying an additional 42 shares during the period. 95.56% of the stock is currently 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.