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

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

Other equities analysts have also recently issued research reports about the stock. Craig Hallum upped their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wedbush lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 target price for the company. in a research note on Tuesday, December 3rd.

Cavco Industries Trading Down 2.8 %

CVCO stock opened at $484.66 on Wednesday. The stock has a market capitalization of $3.93 billion, a PE ratio of 27.40 and a beta of 1.29. Cavco Industries has a 12-month low of $304.10 and a 12-month high of $544.08. The stock’s 50 day simple moving average is $462.71 and its 200 day simple moving average is $411.32.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (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 the consensus estimate of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same period in the prior year, the company posted $4.76 earnings per share. On average, research analysts predict that Cavco Industries will post 18 earnings per share for the current year.

Insider Activity

In other Cavco Industries news, CAO Paul Bigbee sold 100 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total value of $51,223.00. Following the transaction, the chief accounting officer now directly owns 981 shares in the company, valued at approximately $502,497.63. This trade represents a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $57,335.00. Following the completion of the transaction, the director now directly owns 2,861 shares in the company, valued at approximately $1,312,283.48. This represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 350 shares of company stock valued at $171,472 in the last quarter. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. 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 worth $26,052,000 after acquiring an additional 57,278 shares during the period. Cerity Partners LLC raised its position in shares of Cavco Industries by 91.8% during the 3rd 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 period. Atom Investors LP bought a new stake in shares of Cavco Industries during the 3rd quarter valued at $7,572,000. Harbor Capital Advisors Inc. raised its position in shares of Cavco Industries by 147.0% during the 3rd 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 raised its holdings in Cavco Industries by 6.1% during the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock valued at $96,107,000 after acquiring an additional 12,822 shares during the period. Institutional investors own 95.56% of the company’s stock.

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.