Cavco Industries, Inc. (NASDAQ:CVCO) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Monday.

Shares of Cavco Industries (NASDAQ:CVCO) traded up 1.26% on Monday, reaching $128.40. 35,372 shares of the company were exchanged. The stock has a market capitalization of $1.16 billion, a P/E ratio of 26.48 and a beta of 1.53. Cavco Industries has a 12 month low of $88.65 and a 12 month high of $143.10. The stock has a 50 day moving average price of $131.21 and a 200-day moving average price of $119.91.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Monday, August 7th. The construction company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.20. Cavco Industries had a return on equity of 11.40% and a net margin of 5.56%. The business had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $200.70 million. During the same period in the prior year, the business earned $0.60 EPS. Cavco Industries’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities analysts expect that Cavco Industries will post $4.80 EPS for the current fiscal year.

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In related news, Director William C. Boor sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $130.59, for a total transaction of $391,770.00. Following the completion of 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 document filed with the SEC, which is available through the SEC website. 8.44% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of CVCO. Teachers Advisors LLC boosted its stake in Cavco Industries by 3.6% in the fourth quarter. Teachers Advisors LLC now owns 17,568 shares of the construction company’s stock worth $1,754,000 after buying an additional 614 shares during the last quarter. State of Alaska Department of Revenue boosted its stake 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 worth $108,000 after buying an additional 20 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Cavco Industries by 79.7% in the first quarter. Russell Investments Group Ltd. now owns 5,995 shares of the construction company’s stock worth $697,000 after buying an additional 2,658 shares during the last quarter. Essex Investment Management Co. LLC boosted its stake in Cavco Industries by 22.4% in the first quarter. Essex Investment Management Co. LLC now owns 15,573 shares of the construction company’s stock worth $1,813,000 after buying an additional 2,854 shares during the last quarter. Finally, Geneva Advisors LLC acquired a new stake in Cavco Industries during the first quarter worth about $579,000. 97.07% of the stock is owned by institutional investors and hedge funds.

About Cavco Industries

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.

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