Cavco Industries (NASDAQ:CVCO) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Cavco Industries (NASDAQ:CVCO) from a buy rating to a hold rating in a research note published on Thursday morning.

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

Cavco Industries Stock Up 0.8%

Shares of Cavco Industries stock opened at $520.39 on Thursday. The stock has a market capitalization of $4.22 billion, a P/E ratio of 25.61 and a beta of 1.29. Cavco Industries has a 12-month low of $331.08 and a 12-month high of $549.99. The company has a 50-day simple moving average of $500.13 and a 200 day simple moving average of $490.74.

Insider Transactions at Cavco Industries

In related news, Director David A. Greenblatt sold 4,000 shares of Cavco Industries stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the transaction, the director now owns 15,286 shares of the company’s stock, valued at $8,084,459.68. This trade represents a 20.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Cavco Industries by 5.1% in the first quarter. Vanguard Group Inc. now owns 774,842 shares of the construction company’s stock valued at $402,631,000 after buying an additional 37,249 shares in the last quarter. FMR LLC raised its position in shares of Cavco Industries by 118.8% in the fourth quarter. FMR LLC now owns 296,343 shares of the construction company’s stock valued at $132,237,000 after purchasing an additional 160,899 shares during the period. GAMMA Investing LLC raised its position in shares of Cavco Industries by 71,961.9% in the first quarter. GAMMA Investing LLC now owns 229,157 shares of the construction company’s stock valued at $119,077,000 after purchasing an additional 228,839 shares during the period. Geode Capital Management LLC raised its position in shares of Cavco Industries by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 227,024 shares of the construction company’s stock valued at $101,324,000 after purchasing an additional 2,640 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Cavco Industries by 7.5% in the first quarter. Invesco Ltd. now owns 196,210 shares of the construction company’s stock valued at $101,957,000 after acquiring an additional 13,753 shares in the last quarter. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Company Profile

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.