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

Cavco Industries (NASDAQ:CVCO) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Wedbush reiterated a “neutral” rating and issued a $550.00 price objective on shares of Cavco Industries in a research report on Tuesday, May 27th.

Cavco Industries Stock Down 0.5%

Shares of Cavco Industries stock opened at $457.28 on Friday. The stock has a market capitalization of $3.70 billion, a P/E ratio of 22.03 and a beta of 1.15. The company has a 50-day simple moving average of $461.54 and a 200 day simple moving average of $480.84. Cavco Industries has a 12-month low of $331.08 and a 12-month high of $549.99.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, May 22nd. The construction company reported $5.40 earnings per share for the quarter, topping the consensus estimate 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. On average, equities analysts anticipate that Cavco Industries will post 21.93 earnings per share for the current year.

Institutional Trading of Cavco Industries

A number of institutional investors have recently bought and sold shares of CVCO. Stephens Inc. AR boosted its position in shares of Cavco Industries by 3.8% in the 1st quarter. Stephens Inc. AR now owns 629 shares of the construction company’s stock worth $327,000 after purchasing an additional 23 shares during the last quarter. State of Wyoming lifted its stake in Cavco Industries by 0.8% in the fourth quarter. State of Wyoming now owns 3,066 shares of the construction company’s stock valued at $1,368,000 after buying an additional 24 shares during the period. Summit Investment Advisors Inc. boosted its holdings in Cavco Industries by 3.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 866 shares of the construction company’s stock worth $386,000 after buying an additional 30 shares during the last quarter. Ancora Advisors LLC grew its position in shares of Cavco Industries by 0.4% during the 4th quarter. Ancora Advisors LLC now owns 10,070 shares of the construction company’s stock worth $4,494,000 after buying an additional 40 shares during the period. Finally, HighTower Advisors LLC increased its stake in shares of Cavco Industries by 2.6% in the 1st quarter. HighTower Advisors LLC now owns 1,571 shares of the construction company’s stock valued at $816,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

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.