Cavco Industries (NASDAQ:CVCO) Stock Rating Lowered by StockNews.com

Cavco Industries (NASDAQ:CVCOGet Rating) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

A number of other brokerages also recently issued reports on CVCO. Wedbush reissued a “neutral” rating and set a $315.00 price objective on shares of Cavco Industries in a research report on Wednesday, June 1st. Craig Hallum cut their price objective on shares of Cavco Industries from $340.00 to $322.00 and set a “buy” rating for the company in a research report on Tuesday, May 31st.

NASDAQ CVCO traded up $5.41 during mid-day trading on Thursday, reaching $193.96. The stock had a trading volume of 57,511 shares, compared to its average volume of 58,322. Cavco Industries has a 1 year low of $179.47 and a 1 year high of $327.24. The stock has a market cap of $1.72 billion, a PE ratio of 9.08 and a beta of 0.99. The company has a fifty day moving average price of $223.05 and a 200 day moving average price of $259.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.53 and a quick ratio of 1.70.

Cavco Industries (NASDAQ:CVCOGet Rating) last posted its earnings results on Thursday, May 26th. The construction company reported $5.80 EPS for the quarter, topping analysts’ consensus estimates of $4.91 by $0.89. Cavco Industries had a net margin of 12.15% and a return on equity of 21.87%. The business had revenue of $505.48 million during the quarter, compared to the consensus estimate of $426.90 million. During the same quarter in the previous year, the firm posted $2.71 EPS. As a group, equities research analysts expect that Cavco Industries will post 18.61 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Cavco Industries by 4.6% during the first quarter. Vanguard Group Inc. now owns 789,464 shares of the construction company’s stock valued at $190,142,000 after acquiring an additional 34,461 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cavco Industries by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 377,141 shares of the construction company’s stock worth $90,839,000 after buying an additional 6,398 shares during the last quarter. State Street Corp raised its holdings in shares of Cavco Industries by 3.4% in the first quarter. State Street Corp now owns 322,818 shares of the construction company’s stock worth $77,751,000 after buying an additional 10,654 shares during the last quarter. Boston Trust Walden Corp raised its holdings in shares of Cavco Industries by 7.0% in the first quarter. Boston Trust Walden Corp now owns 240,981 shares of the construction company’s stock worth $58,040,000 after buying an additional 15,790 shares during the last quarter. Finally, GW&K Investment Management LLC raised its holdings in shares of Cavco Industries by 3.1% in the first quarter. GW&K Investment Management LLC now owns 236,264 shares of the construction company’s stock worth $56,905,000 after buying an additional 7,188 shares during the last quarter. Institutional investors and hedge funds own 92.58% of the company’s stock.

Cavco Industries Company Profile (Get Rating)

Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, and MidCountry brands.

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