Cavco Industries (NASDAQ:CVCO) Lowered to Hold Rating by Zacks Research

Zacks Research lowered shares of Cavco Industries (NASDAQ:CVCO) from a strong-buy rating to a hold rating in a report released on Tuesday morning,Zacks.com reports.

A number of other research analysts have also recently weighed in on the stock. CJS Securities raised shares of Cavco Industries to a “strong-buy” rating in a research report on Thursday, December 11th. Weiss Ratings restated a “buy (b)” rating on shares of Cavco Industries in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cavco Industries has a consensus rating of “Moderate Buy” and an average price target of $550.00.

Cavco Industries Trading Up 0.8%

Shares of Cavco Industries stock opened at $599.11 on Tuesday. The business’s fifty day moving average price is $563.57 and its 200 day moving average price is $507.05. Cavco Industries has a twelve month low of $393.53 and a twelve month high of $614.11. The stock has a market capitalization of $4.67 billion, a P/E ratio of 24.61 and a beta of 1.28.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, October 30th. The construction company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $6.30 by $0.25. The company had revenue of $556.53 million for the quarter, compared to the consensus estimate of $542.92 million. Cavco Industries had a return on equity of 19.13% and a net margin of 9.18%. As a group, sell-side analysts predict that Cavco Industries will post 21.93 EPS for the current year.

Insider Buying and Selling at Cavco Industries

In other news, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $568.99, for a total value of $284,495.00. Following the completion of the transaction, the director directly owned 6,669 shares in the company, valued at approximately $3,794,594.31. This represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Cavco Industries

Institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new stake in shares of Cavco Industries during the third quarter valued at about $31,000. Farther Finance Advisors LLC increased its holdings in Cavco Industries by 151.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock worth $38,000 after purchasing an additional 53 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Cavco Industries by 118.2% in the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock valued at $57,000 after purchasing an additional 65 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Cavco Industries by 1,814.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock valued at $58,000 after buying an additional 127 shares during the last quarter. Finally, Danske Bank A S bought a new stake in shares of Cavco Industries in the third quarter worth $58,000. Institutional investors and hedge funds 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.