Champion Homes (NYSE:SKY) Announces Earnings Results, Misses Estimates By $0.01 EPS

Champion Homes (NYSE:SKY) announced its earnings results on Tuesday. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01), FiscalAI reports. The company had revenue of $710.23 million for the quarter, compared to the consensus estimate of $701.98 million. Champion Homes had a return on equity of 13.80% and a net margin of 7.77%.The company’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the firm posted $1.19 EPS.

Champion Homes Stock Performance

Champion Homes stock traded up $6.84 on Wednesday, hitting $89.20. The company’s stock had a trading volume of 415,238 shares, compared to its average volume of 714,109. Champion Homes has a one year low of $63.69 and a one year high of $99.17. The firm has a market cap of $4.90 billion, a P/E ratio of 24.37 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 2.48 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average price of $80.85 and a 200-day moving average price of $81.07.

Analysts Set New Price Targets

SKY has been the topic of several research analyst reports. Barclays raised their price target on shares of Champion Homes from $94.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Citigroup assumed coverage on shares of Champion Homes in a research note on Friday, June 5th. They issued a “buy” rating and a $93.00 target price for the company. Royal Bank Of Canada decreased their target price on Champion Homes from $101.00 to $92.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. UBS Group assumed coverage on Champion Homes in a research note on Friday, June 5th. They set a “buy” rating and a $93.00 price target on the stock. Finally, Zacks Research raised Champion Homes from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.00.

Insider Activity at Champion Homes

In other news, EVP Joseph A. Kimmell sold 7,922 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $75.70, for a total transaction of $599,695.40. Following the completion of the transaction, the executive vice president directly owned 36,118 shares of the company’s stock, valued at approximately $2,734,132.60. This trade represents a 17.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LLC acquired a new stake in Champion Homes during the fourth quarter valued at approximately $216,000. Invesco Ltd. raised its holdings in shares of Champion Homes by 35.4% in the 4th quarter. Invesco Ltd. now owns 931,016 shares of the company’s stock worth $78,671,000 after buying an additional 243,614 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Champion Homes in the 4th quarter worth approximately $90,282,000. Empowered Funds LLC lifted its position in shares of Champion Homes by 22.7% during the 4th quarter. Empowered Funds LLC now owns 8,614 shares of the company’s stock worth $728,000 after buying an additional 1,592 shares during the period. Finally, Susquehanna Portfolio Strategies LLC bought a new position in shares of Champion Homes during the 4th quarter worth approximately $8,569,000.

About Champion Homes

Champion Homes, traded under the NYSE ticker SKY, operates as a leading provider of factory-built housing solutions in North America. The company specializes in the design, manufacture and sale of manufactured and modular homes, serving a broad spectrum of customers from first-time homebuyers to those seeking upscale residential properties. Champion Homes leverages vertically integrated operations to streamline production, ensuring consistent quality and cost efficiencies across its product lines.

The company’s product portfolio encompasses single- and multi-section modular homes, manufactured home models, park models and select commercial modular buildings.