BidaskClub lowered shares of Cavco Industries (NASDAQ:CVCO) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday.

Separately, Craig Hallum set a $230.00 price objective on Cavco Industries and gave the stock a hold rating in a report on Wednesday, August 8th.

NASDAQ:CVCO opened at $150.26 on Wednesday. The firm has a market capitalization of $1.42 billion, a P/E ratio of 19.73 and a beta of 1.60. 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 12 month low of $139.50 and a 12 month high of $261.80.

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

In other Cavco Industries news, insider Charles E. Lott sold 2,032 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $165.03, for a total transaction of $335,340.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.46% of the company’s stock.

Several hedge funds have recently modified their holdings of CVCO. Principal Financial Group Inc. grew its holdings in shares of Cavco Industries by 5.0% during the first quarter. Principal Financial Group Inc. now owns 68,994 shares of the construction company’s stock worth $11,987,000 after purchasing an additional 3,285 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Cavco Industries by 640.2% during the second quarter. Bank of Montreal Can now owns 1,784 shares of the construction company’s stock worth $371,000 after buying an additional 1,543 shares during the period. Acadian Asset Management LLC boosted its stake 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 period. Janney Montgomery Scott LLC acquired a new stake in shares of Cavco Industries during the second quarter worth about $216,000. Finally, First Trust Advisors LP boosted its stake in shares of Cavco Industries by 47.8% during the second quarter. First Trust Advisors LP now owns 22,374 shares of the construction company’s stock worth $4,646,000 after buying an additional 7,241 shares during the period. 92.14% of the stock is currently owned by institutional investors.

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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