Cavco Industries (NASDAQ:CVCO) Rating Lowered to “Strong Sell” at Zacks Research

Cavco Industries (NASDAQ:CVCO) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research analysts also recently issued reports on CVCO. Weiss Ratings restated a “buy (b)” rating on shares of Cavco Industries in a research report on Monday, December 29th. CJS Securities raised Cavco Industries to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Zelman & Associates raised Cavco Industries to an “outperform” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $550.00.

Cavco Industries Stock Down 0.4%

NASDAQ CVCO traded down $2.15 during mid-day trading on Monday, hitting $565.23. The stock had a trading volume of 65,705 shares, compared to its average volume of 237,271. The company has a 50 day simple moving average of $606.12 and a 200 day simple moving average of $558.16. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 24.29 and a beta of 1.32. Cavco Industries has a 52-week low of $393.53 and a 52-week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, January 29th. The construction company reported $5.58 earnings per share for the quarter, missing the consensus estimate of $6.00 by ($0.42). Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. The firm had revenue of $580.99 million during the quarter, compared to analyst estimates of $593.37 million. As a group, equities analysts anticipate that Cavco Industries will post 21.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, CEO William C. Boor bought 1,000 shares of Cavco Industries stock in a transaction dated Wednesday, February 4th. The stock was purchased at an average price of $495.00 per share, for a total transaction of $495,000.00. Following the completion of the purchase, the chief executive officer directly owned 48,022 shares of the company’s stock, valued at approximately $23,770,890. This trade represents a 2.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David A. Greenblatt acquired 87 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was acquired at an average cost of $500.00 per share, with a total value of $43,500.00. Following the completion of the acquisition, the director owned 16,076 shares in the company, valued at $8,038,000. This trade represents a 0.54% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 1,800 shares of company stock valued at $866,592 over the last three months. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CVCO. Northwestern Mutual Wealth Management Co. boosted its position in shares of Cavco Industries by 852,093.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company’s stock valued at $1,062,226,000 after acquiring an additional 1,797,917 shares during the last quarter. State Street Corp lifted its position in Cavco Industries by 6.1% during the second quarter. State Street Corp now owns 380,682 shares of the construction company’s stock valued at $165,380,000 after purchasing an additional 21,837 shares during the last quarter. Boston Partners grew its stake in Cavco Industries by 82.8% in the 3rd quarter. Boston Partners now owns 369,177 shares of the construction company’s stock worth $213,866,000 after buying an additional 167,230 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Cavco Industries by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 232,847 shares of the construction company’s stock worth $137,569,000 after buying an additional 1,018 shares during the last quarter. Finally, Fiduciary Management Inc. WI raised its position in shares of Cavco Industries by 14.3% during the 4th quarter. Fiduciary Management Inc. WI now owns 195,713 shares of the construction company’s stock valued at $115,615,000 after buying an additional 24,488 shares in the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

About Cavco Industries

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.