Cavco Industries (NASDAQ:CVCO) Stock Rating Upgraded by Wall Street Zen

Cavco Industries (NASDAQ:CVCO - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Friday.

Separately, Wedbush reissued a "neutral" rating and issued a $550.00 price objective on shares of Cavco Industries in a research note on Tuesday, May 27th.

Cavco Industries Stock Up 1.3%

Cavco Industries stock traded up $5.46 during mid-day trading on Friday, hitting $430.35. The company's stock had a trading volume of 279,094 shares, compared to its average volume of 78,285. The stock has a market capitalization of $3.48 billion, a P/E ratio of 20.73 and a beta of 1.16. The stock's fifty day moving average price is $464.32 and its two-hundred day moving average price is $482.03. Cavco Industries has a twelve month low of $331.08 and a twelve month high of $549.99.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The construction company reported $5.40 EPS for the quarter, beating analysts' consensus estimates of $5.23 by $0.17. Cavco Industries had a net margin of 8.49% and a return on equity of 17.00%. The company had revenue of $508.36 million during the quarter, compared to analyst estimates of $504.15 million. Equities analysts expect that Cavco Industries will post 21.93 earnings per share for the current year.

Hedge Funds Weigh In On Cavco Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Cavco Industries by 5.1% during the first quarter. Vanguard Group Inc. now owns 774,842 shares of the construction company's stock valued at $402,631,000 after purchasing an additional 37,249 shares during the last quarter. FMR LLC lifted its holdings in shares of Cavco Industries by 118.8% during the 4th quarter. FMR LLC now owns 296,343 shares of the construction company's stock valued at $132,237,000 after buying an additional 160,899 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Cavco Industries by 71,961.9% in the 1st quarter. GAMMA Investing LLC now owns 229,157 shares of the construction company's stock valued at $119,077,000 after buying an additional 228,839 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Cavco Industries by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 227,024 shares of the construction company's stock valued at $101,324,000 after buying an additional 2,640 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Cavco Industries by 7.5% in the first quarter. Invesco Ltd. now owns 196,210 shares of the construction company's stock worth $101,957,000 after buying an additional 13,753 shares during the last quarter. 95.56% of the stock is currently owned by hedge funds and other 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.

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