Cavco Industries, Inc. (NASDAQ:CVCO) Upgraded to “Hold” by BidaskClub

Cavco Industries, Inc. (NASDAQ:CVCO) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Friday, August 4th.

Shares of Cavco Industries (CVCO) traded down 0.55% on Friday, reaching $126.50. 36,823 shares of the company traded hands. Cavco Industries has a 1-year low of $88.65 and a 1-year high of $143.10. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 26.09 and a beta of 1.53. The company has a 50-day moving average of $131.01 and a 200-day moving average of $120.22.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Monday, August 7th. The construction company reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.20. The business had revenue of $206.80 million for the quarter, compared to analyst estimates of $200.70 million. Cavco Industries had a net margin of 5.56% and a return on equity of 11.40%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 earnings per share. Analysts anticipate that Cavco Industries will post $4.80 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “[[title]]” was posted by [[site]] and is the sole property of of [[site]]. If you are accessing this article on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The legal version of this article can be accessed at [[permalink]].

In other news, Director William C. Boor sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $130.59, for a total value of $391,770.00. Following the sale, the director now directly owns 6,397 shares of the company’s stock, valued at approximately $835,384.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.44% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CVCO. State of Alaska Department of Revenue boosted its position in Cavco Industries by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 930 shares of the construction company’s stock valued at $108,000 after buying an additional 20 shares during the period. Victory Capital Management Inc. boosted its position in Cavco Industries by 34.3% in the first quarter. Victory Capital Management Inc. now owns 1,288 shares of the construction company’s stock valued at $150,000 after buying an additional 329 shares during the period. HighTower Advisors LLC purchased a new position in Cavco Industries during the first quarter valued at approximately $202,000. Pinnacle Associates Ltd. purchased a new position in Cavco Industries during the second quarter valued at approximately $226,000. Finally, Piedmont Investment Advisors LLC purchased a new position in Cavco Industries during the second quarter valued at approximately $237,000. Institutional investors own 97.07% of the company’s stock.

Cavco Industries Company Profile

Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.