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

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

A number of other equities research analysts have also weighed in on the stock. Craig Hallum upped their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Wedbush cut Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective on the stock. in a research note on Tuesday, December 3rd.

Cavco Industries Price Performance

Shares of Cavco Industries stock opened at $455.30 on Friday. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 25.74 and a beta of 1.29. Cavco Industries has a one year low of $304.10 and a one year high of $544.08. The stock’s 50-day moving average is $467.81 and its 200 day moving average is $416.56.

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

Insiders Place Their Bets

In other news, Director Julia Sze sold 125 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 2,861 shares of the company’s stock, valued at $1,312,283.48. This trade represents a 4.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Paul Bigbee sold 100 shares of Cavco Industries stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $512.23, for a total value of $51,223.00. Following the sale, the chief accounting officer now owns 981 shares in the company, valued at $502,497.63. The trade was a 9.25 % decrease in their ownership of the stock. 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 90 days. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Cavco Industries

Large investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its position in shares of 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 acquiring an additional 57,278 shares during the period. Cerity Partners LLC lifted its stake in Cavco Industries by 91.8% in the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock valued at $20,091,000 after purchasing an additional 22,451 shares during the last quarter. Atom Investors LP purchased a new position in Cavco Industries in the third quarter valued at approximately $7,572,000. Harbor Capital Advisors Inc. grew its holdings in Cavco Industries by 147.0% during the third quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock valued at $9,592,000 after purchasing an additional 13,331 shares during the period. Finally, Geode Capital Management LLC increased its position in Cavco Industries by 6.1% in the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock worth $96,107,000 after buying an additional 12,822 shares during the last quarter. Hedge funds and other institutional investors 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.