Jupiter Topco LLC Acquires New Holdings in Champion Homes, Inc. $SKY

Jupiter Topco LLC bought a new position in shares of Champion Homes, Inc. (NYSE:SKY) during the second quarter, Holdings Channel reports. The fund bought 128,621 shares of the company’s stock, valued at approximately $11,336,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Comerica Bank increased its holdings in shares of Champion Homes by 119.9% in the fourth quarter. Comerica Bank now owns 35,543 shares of the company’s stock worth $3,003,000 after purchasing an additional 19,377 shares during the period. Militia Capital Management LLC purchased a new stake in shares of Champion Homes in the first quarter worth $1,398,000. Horizon Investments LLC bought a new stake in Champion Homes during the fourth quarter valued at $1,439,000. Union Square Park Capital Management LLC bought a new stake in Champion Homes during the first quarter valued at $1,116,000. Finally, Bank of America Corp DE grew its position in Champion Homes by 8.9% during the first quarter. Bank of America Corp DE now owns 577,007 shares of the company’s stock worth $42,912,000 after buying an additional 47,140 shares in the last quarter.

Champion Homes Stock Up 0.2%

SKY opened at $90.23 on Friday. The stock has a market cap of $4.90 billion, a PE ratio of 26.31 and a beta of 1.01. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 0.01. Champion Homes, Inc. has a 52 week low of $63.69 and a 52 week high of $99.17. The business’s fifty day simple moving average is $86.42 and its 200 day simple moving average is $81.68.

Champion Homes (NYSE:SKY) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%.The business had revenue of $710.23 million for the quarter, compared to the consensus estimate of $701.98 million. During the same quarter last year, the business posted $1.19 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, research analysts expect that Champion Homes, Inc. will post 3.4 earnings per share for the current fiscal year.

Insider Activity at Champion Homes

In related news, Director Michael B. Berman sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $93.22, for a total value of $139,830.00. Following the completion of the sale, the director owned 6,825 shares in the company, valued at $636,226.50. The trade was a 18.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joseph A. Kimmell sold 7,922 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $75.70, for a total value of $599,695.40. Following the completion of the sale, the executive vice president directly owned 36,118 shares of the company’s stock, valued at approximately $2,734,132.60. This represents a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 14,522 shares of company stock valued at $1,147,665. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

SKY has been the topic of a number of research analyst reports. Royal Bank Of Canada upped their target price on Champion Homes from $92.00 to $99.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Weiss Ratings raised Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 7th. Citigroup 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 on the stock. Zelman & Associates raised shares of Champion Homes from a “hold” rating to an “outperform” rating in a research note on Thursday, August 6th. Finally, UBS Group lifted their target price on shares of Champion Homes from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.00.

Champion Homes Company Profile

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.