Cavco Industries (NASDAQ:CVCO) Downgraded to “Strong Sell” Rating by Zacks Research

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

Several other analysts also recently weighed in on CVCO. CJS Securities upgraded Cavco Industries to a “strong-buy” rating in a research report on Thursday, December 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cavco Industries in a research report on Monday, December 29th. Finally, Zelman & Associates raised Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $550.00.

Cavco Industries Stock Performance

Shares of NASDAQ CVCO traded down $0.11 during trading hours on Monday, hitting $567.27. 53,527 shares of the stock were exchanged, compared to its average volume of 236,667. The company has a market cap of $4.40 billion, a PE ratio of 24.56 and a beta of 1.32. The company’s fifty day simple moving average is $606.12 and its two-hundred day simple moving average is $558.16. Cavco Industries has a 1-year low of $393.53 and a 1-year high of $713.01.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, January 29th. The construction company reported $5.58 EPS for the quarter, missing the consensus estimate of $6.00 by ($0.42). Cavco Industries had a net margin of 8.37% and a return on equity of 17.84%. The firm had revenue of $580.99 million for the quarter, compared to analyst estimates of $593.37 million. As a group, sell-side analysts expect that Cavco Industries will post 21.93 EPS for the current fiscal year.

Insider Activity

In related news, CEO William C. Boor purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was bought at an average price of $495.00 per share, with a total value of $495,000.00. Following the completion of the purchase, the chief executive officer owned 48,022 shares in the company, valued at approximately $23,770,890. This represents a 2.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven W. Moster acquired 300 shares of the stock in a transaction dated Monday, February 2nd. The shares were bought at an average price of $456.23 per share, with a total value of $136,869.00. Following the completion of the transaction, the director directly owned 2,976 shares of the company’s stock, valued at $1,357,740.48. The trade was a 11.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 1,800 shares of company stock valued at $866,592. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Cavco Industries

Institutional investors have recently added to or reduced their stakes in the stock. Vestcor Inc lifted its position in shares of Cavco Industries by 108.1% in the 4th quarter. Vestcor Inc now owns 899 shares of the construction company’s stock worth $531,000 after purchasing an additional 467 shares during the period. Neumeier Poma Investment Counsel LLC increased its position in shares of Cavco Industries by 42.6% during the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 55,312 shares of the construction company’s stock worth $32,675,000 after buying an additional 16,535 shares during the period. State of Wyoming raised its stake in Cavco Industries by 36.0% during the fourth quarter. State of Wyoming now owns 1,261 shares of the construction company’s stock worth $745,000 after buying an additional 334 shares during the last quarter. Anchor Capital Advisors LLC raised its stake in Cavco Industries by 8.6% during the fourth quarter. Anchor Capital Advisors LLC now owns 4,553 shares of the construction company’s stock worth $2,690,000 after buying an additional 362 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Cavco Industries by 122.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 74,155 shares of the construction company’s stock valued at $43,806,000 after buying an additional 40,832 shares during the period. 95.56% of the stock is currently owned by institutional investors.

About Cavco Industries

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.