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

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

Separately, Wedbush restated a “neutral” rating and set a $550.00 target price (up from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd.

Cavco Industries Stock Performance

Cavco Industries stock traded up $11.43 during mid-day trading on Wednesday, reaching $527.56. The company’s stock had a trading volume of 70,783 shares, compared to its average volume of 62,811. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 25.96 and a beta of 1.34. The business’s 50 day simple moving average is $516.55 and its 200 day simple moving average is $476.92. Cavco Industries has a 12 month low of $331.08 and a 12 month high of $544.08.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, topping the consensus estimate of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. As a group, sell-side analysts expect that Cavco Industries will post 21.93 EPS for the current year.

Insider Buying and Selling

In other Cavco Industries news, insider Matthew A. Nino sold 894 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $529.03, for a total value of $472,952.82. Following the completion of the transaction, the insider now directly owns 771 shares of the company’s stock, valued at $407,882.13. This trade represents a 53.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan L. Blount sold 750 shares of Cavco Industries stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $471.70, for a total value of $353,775.00. Following the sale, the director now owns 2,836 shares of the company’s stock, valued at approximately $1,337,741.20. This trade represents a 20.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,644 shares of company stock worth $4,494,608 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

Several hedge funds have recently bought and sold shares of the stock. Ashford Capital Management Inc. lifted its position in Cavco Industries by 1.1% in the 4th quarter. Ashford Capital Management Inc. now owns 58,295 shares of the construction company’s stock worth $26,013,000 after buying an additional 625 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Cavco Industries by 22.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,492 shares of the construction company’s stock worth $6,913,000 after acquiring an additional 2,802 shares during the last quarter. Vident Advisory LLC boosted its stake in shares of Cavco Industries by 574.2% in the 4th quarter. Vident Advisory LLC now owns 3,553 shares of the construction company’s stock valued at $1,585,000 after purchasing an additional 3,026 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Cavco Industries during the 4th quarter valued at $267,000. Finally, State of Wyoming grew its holdings in shares of Cavco Industries by 0.8% during the 4th quarter. State of Wyoming now owns 3,066 shares of the construction company’s stock valued at $1,368,000 after purchasing an additional 24 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors.

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.