Cavco Industries (NASDAQ:CVCO) Lowered to "Hold" Rating by Wall Street Zen

Wall Street Zen lowered shares of Cavco Industries (NASDAQ:CVCO - Free Report) from a buy rating to a hold rating in a report published on Friday.

Separately, Wedbush reiterated a "neutral" rating and set a $550.00 target price on shares of Cavco Industries in a research report on Tuesday, May 27th.

Cavco Industries Stock Performance

Shares of CVCO traded down $0.68 during midday trading on Friday, hitting $433.70. 108,153 shares of the company traded hands, compared to its average volume of 65,690. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 21.34 and a beta of 1.29. The firm has a 50 day moving average of $493.30 and a 200-day moving average of $493.37. Cavco Industries has a 52 week low of $331.08 and a 52 week high of $549.99.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The construction company reported $5.40 EPS for the quarter, beating analysts' consensus estimates of $5.23 by $0.17. The company had revenue of $508.36 million during the quarter, compared to analyst estimates of $504.15 million. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. Sell-side analysts predict that Cavco Industries will post 21.93 earnings per share for the current fiscal year.

Insider Transactions at Cavco Industries

In related news, Director David A. Greenblatt sold 4,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total value of $2,115,520.00. Following the completion of the transaction, the director now owns 15,286 shares of the company's stock, valued at approximately $8,084,459.68. This trade represents a 20.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Cavco Industries

Several large investors have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd purchased a new position in shares of Cavco Industries in the 4th quarter worth approximately $67,000. Smartleaf Asset Management LLC raised its holdings in Cavco Industries by 387.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company's stock valued at $72,000 after buying an additional 128 shares during the period. CWM LLC lifted its position in Cavco Industries by 44.0% in the first quarter. CWM LLC now owns 157 shares of the construction company's stock worth $82,000 after buying an additional 48 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Cavco Industries by 2,850.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company's stock worth $92,000 after buying an additional 171 shares during the period. Finally, Blue Trust Inc. boosted its stake in Cavco Industries by 28.9% during the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock worth $105,000 after buying an additional 55 shares during the period. 95.56% of the stock is owned by institutional investors.

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.