Cavco Industries (NASDAQ:CVCO) Stock Rating Lowered by BidaskClub – Riverton Roll

BidaskClub downgraded shares of Cavco Industries (NASDAQ:CVCO) from a buy rating to a hold rating in a report published on Friday, January 31st, BidAskClub reports.

CVCO stock opened at $229.60 on Friday. Cavco Industries has a 52 week low of $112.00 and a 52 week high of $235.00. The companys 50-day simple moving average is $207.85 and its 200 day simple moving average is $194.16. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.19 and a current ratio of 3.10. The company has a market capitalization of $2.11 billion, a PE ratio of 26.01 and a beta of 1.52.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $2.25 earnings per share for the quarter, topping the Thomson Reuters consensus estimate of $2.01 by $0.24. Cavco Industries had a net margin of 7.93% and a return on equity of 14.60%. The business had revenue of $273.70 million during the quarter, compared to analysts expectations of $262.34 million. During the same quarter in the prior year, the business posted $1.44 earnings per share. Cavco Industriess revenue was up 17.1% compared to the same quarter last year.

Several hedge funds have recently bought and sold shares of CVCO. Meeder Asset Management Inc. bought a new position in shares of Cavco Industries in the third quarter worth about $34,000. Penserra Capital Management LLC lifted its holdings in shares of Cavco Industries by 25.0% in the third quarter. Penserra Capital Management LLC now owns 310 shares of the construction companys stock worth $59,000 after acquiring an additional 62 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Cavco Industries in the third quarter worth about $96,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Cavco Industries by 13.4% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 719 shares of the construction companys stock worth $113,000 after acquiring an additional 85 shares during the last quarter. Finally, Nisa Investment Advisors LLC bought a new position in shares of Cavco Industries in the third quarter worth about $192,000. 92.89% of the stock is owned by hedge funds and other 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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Cavco Industries (NASDAQ:CVCO) Stock Rating Lowered by BidaskClub - Riverton Roll