Cavco Industries (NASDAQ:CVCO) Downgraded by StockNews.com

StockNews.com cut shares of Cavco Industries (NASDAQ:CVCO – Get Rating) from a buy rating to a hold rating in a research note released on Tuesday.

Several other equities research analysts also recently commented on CVCO. Zacks Investment Research downgraded shares of Cavco Industries from a strong-buy rating to a hold rating in a report on Monday, April 11th. Craig Hallum decreased their price target on Cavco Industries from $426.00 to $340.00 in a research report on Monday, April 18th. Finally, Wedbush upped their price target on Cavco Industries from $255.00 to $315.00 and gave the company a neutral rating in a research report on Monday, February 7th.

NASDAQ CVCO opened at $246.58 on Tuesday. The company has a market cap of $2.26 billion, a PE ratio of 13.50 and a beta of 0.98. Cavco Industries has a 52 week low of $196.46 and a 52 week high of $327.24. The company has a quick ratio of 1.84, a current ratio of 2.58 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $254.68 and its two-hundred day simple moving average is $274.57.

Cavco Industries (NASDAQ:CVCO – Get Rating) last released its quarterly earnings data on Thursday, February 3rd. The construction company reported $5.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.04 by $2.30. The business had revenue of $431.71 million for the quarter, compared to the consensus estimate of $401.10 million. Cavco Industries had a net margin of 11.85% and a return on equity of 19.08%. During the same period in the prior year, the firm earned $2.12 earnings per share. As a group, equities research analysts anticipate that Cavco Industries will post 17.22 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mutual of America Capital Management LLC increased its position in shares of Cavco Industries by 5.2% during the first quarter. Mutual of America Capital Management LLC now owns 1,227 shares of the construction company’s stock valued at $296,000 after buying an additional 61 shares during the period. Park Avenue Securities LLC increased its position in shares of Cavco Industries by 4.1% in the first quarter. Park Avenue Securities LLC now owns 1,688 shares of the construction company’s stock worth $407,000 after purchasing an additional 66 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Cavco Industries by 16.7% in the first quarter. Hillsdale Investment Management Inc. now owns 3,500 shares of the construction company’s stock worth $843,000 after purchasing an additional 500 shares during the last quarter. Comerica Bank increased its position in shares of Cavco Industries by 0.6% in the first quarter. Comerica Bank now owns 8,214 shares of the construction company’s stock worth $2,003,000 after purchasing an additional 46 shares during the last quarter. Finally, Shaker Investments LLC OH increased its position in shares of Cavco Industries by 634.7% in the first quarter. Shaker Investments LLC OH now owns 6,730 shares of the construction company’s stock worth $1,621,000 after purchasing an additional 5,814 shares during the last quarter. Hedge funds and other institutional investors own 92.58% of the company’s stock.

About Cavco Industries (Get Rating)

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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