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

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

A number of other brokerages have also commented on CVCO. Wedbush reiterated a “neutral” rating and set a $315.00 price target on shares of Cavco Industries in a report on Wednesday, June 1st. Craig Hallum cut their price target on Cavco Industries from $340.00 to $322.00 and set a “buy” rating for the company in a report on Tuesday, May 31st.

Cavco Industries stock traded up $5.41 during midday trading on Thursday, hitting $193.96. The company’s stock had a trading volume of 57,511 shares, compared to its average volume of 58,322. The stock’s 50-day moving average price is $223.05 and its 200-day moving average price is $259.89. The company has a market capitalization of $1.72 billion, a PE ratio of 9.08 and a beta of 0.99. Cavco Industries has a 12 month low of $179.47 and a 12 month high of $327.24. The company has a quick ratio of 1.70, a current ratio of 2.53 and a debt-to-equity ratio of 0.01.

Cavco Industries (NASDAQ:CVCO – Get Rating) last released its earnings results on Thursday, May 26th. The construction company reported $5.80 earnings per share for the quarter, beating the consensus estimate of $4.91 by $0.89. Cavco Industries had a return on equity of 21.87% and a net margin of 12.15%. The company had revenue of $505.48 million for the quarter, compared to analysts’ expectations of $426.90 million. During the same quarter in the previous year, the business posted $2.71 EPS. As a group, equities analysts anticipate that Cavco Industries will post 18.61 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Cavco Industries by 4.6% during the first quarter. Vanguard Group Inc. now owns 789,464 shares of the construction company’s stock worth $190,142,000 after purchasing an additional 34,461 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Cavco Industries by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 377,141 shares of the construction company’s stock worth $90,839,000 after acquiring an additional 6,398 shares during the period. State Street Corp boosted its stake in shares of Cavco Industries by 3.4% during the 1st quarter. State Street Corp now owns 322,818 shares of the construction company’s stock worth $77,751,000 after acquiring an additional 10,654 shares during the period. Boston Trust Walden Corp boosted its stake in shares of Cavco Industries by 7.0% during the 1st quarter. Boston Trust Walden Corp now owns 240,981 shares of the construction company’s stock worth $58,040,000 after acquiring an additional 15,790 shares during the period. Finally, GW&K Investment Management LLC boosted its stake in shares of Cavco Industries by 3.1% during the 1st quarter. GW&K Investment Management LLC now owns 236,264 shares of the construction company’s stock worth $56,905,000 after acquiring an additional 7,188 shares during the period. 92.58% of the stock is currently owned by hedge funds and other institutional investors.

About Cavco Industries (Get Rating)

Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, and MidCountry brands.

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