Cavco Industries (NASDAQ:CVCO) Rating Lowered to Hold at StockNews.com

by · The Markets Daily

Cavco Industries (NASDAQ:CVCO – Get Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

CVCO has been the topic of a number of other reports. Wedbush downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective on the stock. in a research report on Tuesday, December 3rd. Craig Hallum increased their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th.

Read Our Latest Research Report on Cavco Industries

Cavco Industries Stock Performance

CVCO traded down $2.99 on Wednesday, reaching $497.01. 38,465 shares of the company’s stock were exchanged, compared to its average volume of 64,075. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 28.10 and a beta of 1.29. Cavco Industries has a twelve month low of $301.56 and a twelve month high of $544.08. The company’s 50 day moving average is $461.32 and its 200-day moving average is $410.70.

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

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 100 shares of the company’s 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 transaction, the chief accounting officer now directly owns 981 shares of the company’s stock, valued at $502,497.63. This represents a 9.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Julia Sze sold 125 shares of Cavco Industries stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $503.31, for a total transaction of $62,913.75. Following the completion of the sale, the director now owns 2,736 shares of the company’s stock, valued at approximately $1,377,056.16. The trade was a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,350 shares of company stock valued at $1,808,272. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. raised its position in Cavco Industries by 9,900.0% during the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after purchasing an additional 99 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Cavco Industries by 390.5% during the third quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock valued at $44,000 after buying an additional 82 shares during the last quarter. Avior Wealth Management LLC purchased a new stake in shares of Cavco Industries in the third quarter worth approximately $64,000. GAMMA Investing LLC grew its stake in shares of Cavco Industries by 30.2% in the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after acquiring an additional 64 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in Cavco Industries in the 2nd quarter valued at about $138,000. Institutional investors own 95.56% of the company’s stock.

About Cavco Industries

(Get Free Report)

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.

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