Cavco Industries (NASDAQ:CVCO) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Cavco Industries (NASDAQ:CVCO) from a hold rating to a strong sell rating in a research note released on Monday morning,Zacks.com reports.

A number of other research firms have also issued reports on CVCO. Zelman & Associates upgraded Cavco Industries to an “outperform” rating in a report on Thursday, February 5th. CJS Securities raised Cavco Industries to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cavco Industries in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $550.00.

Cavco Industries Stock Performance

NASDAQ CVCO opened at $569.09 on Monday. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 24.72 and a beta of 1.32. The firm has a 50 day simple moving average of $605.77 and a 200-day simple moving average of $558.24. Cavco Industries has a one year low of $393.53 and a one year high of $713.01.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, January 29th. The construction company reported $5.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.00 by ($0.42). Cavco Industries had a return on equity of 17.84% and a net margin of 8.37%.The business had revenue of $580.99 million for the quarter, compared to analyst estimates of $593.37 million. Equities analysts predict that Cavco Industries will post 21.93 EPS for the current fiscal year.

Insider Activity

In other Cavco Industries news, Director David A. Greenblatt purchased 413 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were purchased at an average price of $463.01 per share, for a total transaction of $191,223.13. Following the completion of the transaction, the director owned 15,989 shares in the company, valued at $7,403,066.89. This represents a 2.65% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William C. Boor purchased 1,000 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was bought at an average cost of $495.00 per share, for a total transaction of $495,000.00. Following the acquisition, the chief executive officer directly owned 48,022 shares of the company’s stock, valued at $23,770,890. This represents a 2.13% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 1,800 shares of company stock worth $866,592. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cavco Industries

Institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its position in Cavco Industries by 852,093.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company’s stock worth $1,062,226,000 after purchasing an additional 1,797,917 shares during the period. State Street Corp lifted its stake in shares of Cavco Industries by 6.1% in the second quarter. State Street Corp now owns 380,682 shares of the construction company’s stock worth $165,380,000 after buying an additional 21,837 shares during the last quarter. Boston Partners boosted its holdings in shares of Cavco Industries by 82.8% during the 3rd quarter. Boston Partners now owns 369,177 shares of the construction company’s stock worth $213,866,000 after buying an additional 167,230 shares during the period. Geode Capital Management LLC grew its stake in Cavco Industries by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 232,847 shares of the construction company’s stock valued at $137,569,000 after buying an additional 1,018 shares during the last quarter. Finally, Fiduciary Management Inc. WI raised its holdings in Cavco Industries by 14.3% in the 4th quarter. Fiduciary Management Inc. WI now owns 195,713 shares of the construction company’s stock worth $115,615,000 after acquiring an additional 24,488 shares during the period. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cavco Industries Company Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.