Cavco Industries (NASDAQ:CVCO) Cut to Hold at StockNews.com

Cavco Industries (NASDAQ:CVCO – Get Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Several other equities analysts have also issued reports on CVCO. Craig Hallum cut their target price on Cavco Industries from $357.00 to $338.00 in a research note on Monday. Wedbush lifted their target price on Cavco Industries from $410.00 to $425.00 in a research note on Monday.

Cavco Industries Price Performance

CVCO stock opened at $270.81 on Friday. The business has a 50-day moving average price of $294.66 and a 200 day moving average price of $266.75. The company has a market capitalization of $2.35 billion, a P/E ratio of 10.06 and a beta of 1.22. Cavco Industries has a 1-year low of $179.47 and a 1-year high of $318.00.

Insider Buying and Selling at Cavco Industries

In other news, insider Gavin Ryan sold 3,000 shares of the business’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $290.03, for a total transaction of $870,090.00. Following the sale, the insider now owns 529 shares in the company, valued at $153,425.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.62% of the stock is owned by insiders.

Institutional Investors Weigh In On Cavco Industries

A number of large investors have recently modified their holdings of CVCO. JPMorgan Chase & Co. grew its stake in shares of Cavco Industries by 75.9% during the first quarter. JPMorgan Chase & Co. now owns 24,779 shares of the construction company’s stock worth $5,968,000 after acquiring an additional 10,691 shares during the last quarter. Raymond James & Associates boosted its position in Cavco Industries by 5.8% in the first quarter. Raymond James & Associates now owns 14,161 shares of the construction company’s stock valued at $3,411,000 after buying an additional 774 shares during the last quarter. US Bancorp DE boosted its position in Cavco Industries by 25.2% in the first quarter. US Bancorp DE now owns 388 shares of the construction company’s stock valued at $94,000 after buying an additional 78 shares during the last quarter. MetLife Investment Management LLC boosted its position in Cavco Industries by 58.6% in the first quarter. MetLife Investment Management LLC now owns 4,906 shares of the construction company’s stock valued at $1,182,000 after buying an additional 1,813 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Cavco Industries by 2.2% in the first quarter. Rhumbline Advisers now owns 23,738 shares of the construction company’s stock valued at $5,717,000 after buying an additional 522 shares during the last quarter. Hedge funds and other institutional investors own 93.32% of the company’s stock.

About Cavco Industries

(Get Rating)

Cavco Industries, Inc engages in the development of residential modular structures. It offers manufactured homes, modular homes, park model RVs and cabins, commercial structures, mortgage lending, and insurance. The firm’s brands include Cavco, Fleetwood, Palm Harbor and Fairmont, Friendship, Chariot Eagle and Destiny.