Cavco Industries (CVCO) Downgraded to “Strong Sell” at BidaskClub

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.



Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Friday, November 9th. The construction company reported $1.67 EPS for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.18. Cavco Industries had a return on equity of 15.72% and a net margin of 8.28%. The business had revenue of $241.53 million for the quarter, compared to analysts’ expectations of $240.53 million. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The business’s revenue was up 20.5% compared to the same quarter last year.

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.

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