BidaskClub cut shares of Cavco Industries, Inc. (NASDAQ:CVCO) from a hold rating to a sell rating in a research note released on Monday morning.

Cavco Industries (NASDAQ:CVCO) traded up 0.35% during midday trading on Monday, hitting $128.85. The stock had a trading volume of 6,797 shares. The firm has a market cap of $1.16 billion, a P/E ratio of 26.57 and a beta of 1.53. Cavco Industries has a 52 week low of $88.65 and a 52 week high of $143.10. The stock has a 50-day moving average of $131.21 and a 200-day moving average of $119.91.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Monday, August 7th. The construction company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.20. Cavco Industries had a return on equity of 11.40% and a net margin of 5.56%. The firm had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $200.70 million. During the same period in the previous year, the firm earned $0.60 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. Analysts forecast that Cavco Industries will post $4.80 EPS for the current fiscal year.

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In other news, Director William C. Boor sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $130.59, for a total transaction of $391,770.00. Following the completion of the transaction, the director now directly owns 6,397 shares of the company’s stock, valued at $835,384.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.44% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CVCO. BlackRock Inc. boosted its position in Cavco Industries by 179,350.7% in the first quarter. BlackRock Inc. now owns 1,178,991 shares of the construction company’s stock valued at $137,234,000 after buying an additional 1,178,334 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Cavco Industries by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 492,335 shares of the construction company’s stock valued at $57,308,000 after buying an additional 8,851 shares in the last quarter. Vanguard Group Inc. boosted its position in Cavco Industries by 3.8% in the second quarter. Vanguard Group Inc. now owns 458,778 shares of the construction company’s stock valued at $59,481,000 after buying an additional 16,893 shares in the last quarter. FMR LLC boosted its position in Cavco Industries by 26.1% in the second quarter. FMR LLC now owns 416,180 shares of the construction company’s stock valued at $53,958,000 after buying an additional 86,212 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Cavco Industries by 3.3% in the second quarter. Renaissance Technologies LLC now owns 334,200 shares of the construction company’s stock valued at $43,329,000 after buying an additional 10,700 shares in the last quarter. 97.07% of the stock is owned by institutional investors.

About Cavco Industries

Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.

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