Cavco Industries, Inc. (CVCO) Rating Lowered to Sell at BidaskClub

Cavco Industries, Inc. (NASDAQ:CVCO) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

Shares of Cavco Industries (CVCO) traded down 0.19% on Monday, reaching $129.80. 20,659 shares of the company’s stock traded hands. Cavco Industries has a 52 week low of $88.65 and a 52 week high of $136.98. The company has a 50 day moving average price of $127.90 and a 200 day moving average price of $116.11. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 31.13 and a beta of 1.52.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Monday, June 12th. The construction company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.17. Cavco Industries had a net margin of 4.91% and a return on equity of 10.07%. The company had revenue of $198 million for the quarter, compared to the consensus estimate of $188 million. During the same period in the previous year, the firm earned $0.77 EPS. Cavco Industries’s revenue was up 11.7% on a year-over-year basis. On average, equities research analysts predict that Cavco Industries will post $4.65 earnings per share for the current fiscal year.

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In other Cavco Industries news, Director William C. Boor sold 3,000 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $130.59, for a total transaction of $391,770.00. Following the sale, the director now directly owns 6,397 shares in the company, valued at approximately $835,384.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.44% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in Cavco Industries during the fourth quarter worth approximately $335,000. Comerica Bank increased its stake in Cavco Industries by 5.7% in the fourth quarter. Comerica Bank now owns 9,068 shares of the construction company’s stock worth $887,000 after buying an additional 489 shares during the period. FMR LLC increased its stake in Cavco Industries by 120.6% in the fourth quarter. FMR LLC now owns 100,729 shares of the construction company’s stock worth $10,058,000 after buying an additional 55,074 shares during the period. Thrivent Financial for Lutherans increased its stake in Cavco Industries by 5.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,560 shares of the construction company’s stock worth $455,000 after buying an additional 250 shares during the period. Finally, RMB Capital Management LLC increased its stake in Cavco Industries by 98.8% in the fourth quarter. RMB Capital Management LLC now owns 31,252 shares of the construction company’s stock worth $3,121,000 after buying an additional 15,531 shares during the period. Institutional investors own 98.00% of the company’s stock.

About Cavco Industries

Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.

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