Zacks Investment Research Downgrades Cavco Industries (NASDAQ:CVCO) to Hold

Last updated on Monday, June 21, 2021 | 2021 MarketBeat

Cavco Industries (NASDAQ:CVCO) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued on Monday, Zacks.com reports.

According to Zacks, "Cavco Industries, Inc. designs and produces factory-built housing products primarily distributed through a network of independent and Company-owned retailers. The Company is one of the largest producers of manufactured homes in the United States, based on reported wholesale shipments, marketed under a variety of brand names including Cavco Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes and Chariot Eagle. The Company is also a leading producer of park model RVs, vacation cabins, and systems-built commercial structures. Cavco Industries is focused on building quality, energy efficient homes for the modern day home buyer. Green building involves the creation of an energy efficient envelope including higher utilization of renewable materials. These homes provide environmentally-friendly maintenance requirements, high indoor air quality, specially designed ventilation systems, best use of space, and passive solar orientation. "

CVCO traded up $1.30 during midday trading on Monday, hitting $218.67. 26,410 shares of the company were exchanged, compared to its average volume of 41,715. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 26.51 and a beta of 1.13. Cavco Industries has a 1-year low of $162.88 and a 1-year high of $242.06. The business has a 50 day moving average price of $215.52. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.75 and a quick ratio of 2.20.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Tuesday, May 25th. The construction company reported $2.71 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $1.92 by $0.79. The firm had revenue of $306.50 million for the quarter, compared to the consensus estimate of $306.60 million. Cavco Industries had a return on equity of 11.75% and a net margin of 6.92%. On average, equities analysts predict that Cavco Industries will post 9.31 EPS for the current year.

Several large investors have recently made changes to their positions in CVCO. Captrust Financial Advisors raised its stake in Cavco Industries by 555.0% during the 1st quarter. Captrust Financial Advisors now owns 131 shares of the construction company's stock worth $30,000 after buying an additional 111 shares during the period. CWM LLC raised its stake in Cavco Industries by 277.1% during the 1st quarter. CWM LLC now owns 132 shares of the construction company's stock worth $30,000 after buying an additional 97 shares during the period. Carroll Financial Associates Inc. raised its stake in Cavco Industries by 1,025.0% during the 1st quarter. Carroll Financial Associates Inc. now owns 135 shares of the construction company's stock worth $30,000 after buying an additional 123 shares during the period. Vantage Consulting Group Inc acquired a new position in Cavco Industries during the 4th quarter worth approximately $33,000. Finally, Veriti Management LLC acquired a new position in Cavco Industries during the 4th quarter worth approximately $50,000. 91.25% of the stock is currently owned by institutional investors.

Cavco Industries Company Profile

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, Fairmont, Friendship, Chariot Eagle, and Destiny brands.

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