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

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

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

Cavco Industries Stock Performance

Shares of NASDAQ CVCO opened at $567.38 on Monday. Cavco Industries has a 52-week low of $393.53 and a 52-week high of $713.01. The business has a fifty day moving average of $606.12 and a two-hundred day moving average of $558.16. The stock has a market cap of $4.40 billion, a PE ratio of 24.65 and a beta of 1.32.

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

Insider Buying and Selling at Cavco Industries

In other news, Director Steven W. Moster purchased 300 shares of Cavco Industries stock in a transaction on Monday, February 2nd. The stock was purchased at an average price of $456.23 per share, with a total value of $136,869.00. Following the transaction, the director directly owned 2,976 shares in the company, valued at $1,357,740.48. The trade was a 11.21% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David A. Greenblatt bought 87 shares of the firm’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 transaction, the director owned 16,076 shares of the company’s stock, valued at $8,038,000. This represents a 0.54% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 1,800 shares of company stock worth $866,592. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Salomon & Ludwin LLC acquired a new position in shares of Cavco Industries during the 3rd quarter worth approximately $31,000. Danske Bank A S bought a new stake in shares of Cavco Industries in the third quarter valued at approximately $58,000. Mather Group LLC. acquired a new stake in Cavco Industries during the third quarter worth approximately $63,000. CIBC Private Wealth Group LLC lifted its position in shares of Cavco Industries by 72.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company’s stock valued at $69,000 after acquiring an additional 50 shares during the period. Finally, Osaic Holdings Inc. lifted its position in shares of Cavco Industries by 118.2% during the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock valued at $57,000 after acquiring an additional 65 shares during the period. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Company Profile

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.