Champion Homes (NYSE:SKY) Trading 9.4% Higher – Here’s Why

Champion Homes, Inc. (NYSE:SKY)’s share price traded up 9.4% during trading on Wednesday . The stock traded as high as $90.33 and last traded at $90.12. 255,317 shares changed hands during trading, a decline of 64% from the average session volume of 712,482 shares. The stock had previously closed at $82.36.

Analyst Ratings Changes

A number of research firms recently weighed in on SKY. Barclays lifted their price objective on shares of Champion Homes from $94.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada cut their price objective on shares of Champion Homes from $101.00 to $92.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Weiss Ratings cut shares of Champion Homes from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 27th. Citigroup initiated coverage on shares of 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, UBS Group began coverage on shares of Champion Homes in a research report on Friday, June 5th. They issued a “buy” rating and a $93.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Champion Homes Stock Performance

The company has a current ratio of 2.48, a quick ratio of 1.69 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 24.91 and a beta of 1.01. The stock’s 50 day moving average price is $80.85 and its two-hundred day moving average price is $81.07.

Champion Homes (NYSE:SKY) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). The company had revenue of $710.23 million during the quarter, compared to analysts’ expectations of $701.98 million. Champion Homes had a net margin of 7.77% and a return on equity of 13.80%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 EPS. On average, analysts forecast that Champion Homes, Inc. will post 3.4 EPS for the current year.

Insider Activity

In other news, EVP Joseph A. Kimmell sold 4,000 shares of Champion Homes stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $75.91, for a total transaction of $303,640.00. Following the completion of the sale, the executive vice president directly owned 32,118 shares in the company, valued at approximately $2,438,077.38. This trade represents a 11.07% 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.

Hedge Funds Weigh In On Champion Homes

Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in Champion Homes by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,800,562 shares of the company’s stock valued at $366,619,000 after acquiring an additional 333,666 shares during the last quarter. Wasatch Advisors LP lifted its stake in Champion Homes by 0.4% in the 2nd quarter. Wasatch Advisors LP now owns 2,747,516 shares of the company’s stock valued at $242,111,000 after buying an additional 10,749 shares in the last quarter. State Street Corp lifted its stake in Champion Homes by 4.0% in the 2nd quarter. State Street Corp now owns 2,579,091 shares of the company’s stock valued at $161,477,000 after buying an additional 98,659 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Champion Homes by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,736,164 shares of the company’s stock valued at $129,111,000 after buying an additional 80,531 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Champion Homes by 7.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,411,351 shares of the company’s stock valued at $107,785,000 after buying an additional 91,989 shares during the last quarter.

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.