BidaskClub downgraded shares of Cavco Industries (NASDAQ:CVCO) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday morning.
Separately, Craig Hallum set a $230.00 target price on Cavco Industries and gave the stock a hold rating in a research report on Wednesday, August 8th.
Shares of CVCO traded up $2.20 during midday trading on Wednesday, reaching $152.85. 8,657 shares of the stock were exchanged, compared to its average volume of 89,136. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.71 and a current ratio of 2.28. Cavco Industries has a twelve month low of $139.50 and a twelve month high of $261.80. The stock has a market capitalization of $1.37 billion, a P/E ratio of 19.05 and a beta of 1.60.
Institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC grew its holdings in shares of Cavco Industries by 174.8% during the second quarter. Acadian Asset Management LLC now owns 599 shares of the construction company’s stock worth $124,000 after buying an additional 381 shares during the last quarter. Fiera Capital Corp purchased a new position in shares of Cavco Industries during the second quarter worth about $208,000. Janney Montgomery Scott LLC purchased a new position in shares of Cavco Industries during the second quarter worth about $216,000. Janus Henderson Group PLC purchased a new position in shares of Cavco Industries during the third quarter worth about $283,000. Finally, Capital Fund Management S.A. purchased a new position in shares of Cavco Industries during the second quarter worth about $291,000. Institutional investors and hedge funds own 92.14% of the company’s stock.
Cavco Industries Company Profile
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 Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes, Friendship Homes, Chariot Eagle, and Lexington Home brands.
Further Reading: Different Types of Derivatives
Receive News & Ratings for Cavco Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cavco Industries and related companies with MarketBeat.com's FREE daily email newsletter.