Cavco Industries, Inc. (NASDAQ:CVCO) Receives Average Rating of “Moderate Buy” from Analysts

Cavco Industries, Inc. (NASDAQ:CVCO) has received an average rating of “Moderate Buy” from the five analysts that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $550.00.

Several analysts have recently weighed in on the stock. Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a report on Thursday, February 5th. Weiss Ratings downgraded Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Finally, Zacks Research upgraded Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd.

Cavco Industries Stock Performance

CVCO traded down $20.83 during trading on Friday, hitting $455.76. The stock had a trading volume of 136,425 shares, compared to its average volume of 125,161. The firm has a market capitalization of $3.54 billion, a P/E ratio of 19.80 and a beta of 1.31. Cavco Industries has a twelve month low of $393.53 and a twelve month high of $713.01. The company’s 50-day moving average price is $499.94 and its 200 day moving average price is $557.77.

Institutional Trading of Cavco Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantinno Capital Management LP boosted its holdings in Cavco Industries by 89.8% during the first quarter. Quantinno Capital Management LP now owns 1,186 shares of the construction company’s stock worth $574,000 after buying an additional 561 shares in the last quarter. Lombard Odier Asset Management USA Corp acquired a new stake in shares of Cavco Industries during the 1st quarter valued at approximately $217,000. Punch & Associates Investment Management Inc. lifted its position in shares of Cavco Industries by 21.3% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 50,991 shares of the construction company’s stock valued at $24,694,000 after acquiring an additional 8,940 shares during the period. Entropy Technologies LP boosted its stake in shares of Cavco Industries by 23.3% during the 1st quarter. Entropy Technologies LP now owns 3,624 shares of the construction company’s stock worth $1,755,000 after acquiring an additional 684 shares in the last quarter. Finally, Cannell & Spears LLC grew its holdings in shares of Cavco Industries by 20.4% in the 1st quarter. Cannell & Spears LLC now owns 952 shares of the construction company’s stock worth $444,000 after acquiring an additional 161 shares during the period. Institutional investors and hedge funds own 95.56% of the company’s stock.

About Cavco Industries

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.