Champion Homes (NYSE:SKY) Coverage Initiated by Analysts at Oppenheimer

Stock analysts at Oppenheimer assumed coverage on shares of Champion Homes (NYSE:SKY) in a report released on Wednesday, MarketBeat reports. The brokerage set a “market perform” rating on the stock.

SKY has been the topic of a number of other reports. Royal Bank Of Canada lifted their price objective on shares of Champion Homes from $92.00 to $99.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Zacks Research upgraded shares of Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Weiss Ratings raised shares of 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 note on Friday, June 5th. They set a “buy” rating and a $93.00 price target on the stock. Finally, Zelman & Associates upgraded shares of Champion Homes from a “hold” rating to an “outperform” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Champion Homes has an average rating of “Moderate Buy” and a consensus target price of $104.00.

Champion Homes Stock Down 0.3%

Champion Homes stock opened at $86.59 on Wednesday. Champion Homes has a twelve month low of $63.69 and a twelve month high of $99.17. The stock has a 50 day moving average of $87.19 and a two-hundred day moving average of $80.86. The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 25.24 and a beta of 1.01.

Champion Homes (NYSE:SKY) last released its earnings results on Tuesday, August 4th. The company reported $0.88 earnings per share (EPS) 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 analyst estimates of $701.98 million. During the same quarter in the previous year, the company posted $1.19 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, research analysts expect that Champion Homes will post 3.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Erin Helgren sold 1,100 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $95.00, for a total transaction of $104,500.00. Following the transaction, the director directly owned 8,196 shares of the company’s stock, valued at $778,620. This represents a 11.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael B. Berman sold 1,500 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $93.22, for a total transaction of $139,830.00. Following the completion of the transaction, the director owned 6,825 shares of the company’s stock, valued at $636,226.50. This represents a 18.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Champion Homes during the 2nd quarter worth approximately $209,000. Tidal Investments LLC increased its stake in Champion Homes by 0.8% in the 2nd quarter. Tidal Investments LLC now owns 187,847 shares of the company’s stock valued at $16,553,000 after purchasing an additional 1,421 shares in the last quarter. Nykredit A S purchased a new position in Champion Homes in the 2nd quarter valued at approximately $196,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Champion Homes during the second quarter worth $308,000. Finally, B. Metzler seel. Sohn & Co. AG raised its holdings in Champion Homes by 6.8% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 62,027 shares of the company’s stock worth $5,466,000 after purchasing an additional 3,942 shares during the last quarter.

Champion Homes Company Profile

Champion Homes, Inc, formerly known as Skyline Champion Corporation, designs and manufactures factory-built housing for residential, commercial and specialized applications. Its portfolio includes manufactured homes, modular homes, park model homes, accessory dwelling units and other prefabricated structures, offered through a range of brands and configurations.

The company sells its products through independent and company-owned retailers, builders and developers, serving customers across the United States and parts of Canada.