Champion Homes (NYSE:SKY) Issues Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Champion Homes (NYSE:SKY) posted its earnings results on Tuesday. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.14, Zacks reports. Champion Homes had a return on equity of 14.36% and a net margin of 8.41%.

Champion Homes Stock Performance

NYSE:SKY traded down $0.12 during midday trading on Tuesday, reaching $75.78. The stock had a trading volume of 1,168,561 shares, compared to its average volume of 788,237. The stock has a market cap of $4.23 billion, a P/E ratio of 19.68 and a beta of 1.08. The firm has a fifty day simple moving average of $87.60 and a two-hundred day simple moving average of $78.05. Champion Homes has a 12-month low of $59.44 and a 12-month high of $110.00. The company has a quick ratio of 1.77, a current ratio of 2.60 and a debt-to-equity ratio of 0.02.

Insider Transactions at Champion Homes

In other Champion Homes news, VP Timothy A. Burkhardt sold 12,183 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $87.41, for a total transaction of $1,064,916.03. Following the completion of the transaction, the vice president directly owned 33,230 shares in the company, valued at approximately $2,904,634.30. This trade represents a 26.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joseph A. Kimmell sold 1,812 shares of Champion Homes stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $82.04, for a total transaction of $148,656.48. Following the sale, the executive vice president owned 55,977 shares of the company’s stock, valued at approximately $4,592,353.08. This trade represents a 3.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 15,795 shares of company stock valued at $1,372,603. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SKY. CIBC Bancorp USA Inc. bought a new stake in shares of Champion Homes in the 3rd quarter worth about $467,000. Advisory Services Network LLC acquired a new stake in shares of Champion Homes in the 3rd quarter worth about $35,000. CANADA LIFE ASSURANCE Co increased its position in Champion Homes by 4.2% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 54,688 shares of the company’s stock valued at $4,084,000 after acquiring an additional 2,224 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Champion Homes in the third quarter worth about $7,323,000. Finally, Wasatch Advisors LP increased its stake in shares of Champion Homes by 48.0% during the third quarter. Wasatch Advisors LP now owns 1,148,641 shares of the company’s stock valued at $87,722,000 after acquiring an additional 372,548 shares during the period.

Analysts Set New Price Targets

Several brokerages have weighed in on SKY. Zacks Research raised shares of Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings restated a “hold (c)” rating on shares of Champion Homes in a research report on Wednesday, January 21st. Royal Bank Of Canada reissued an “outperform” rating and set a $101.00 target price on shares of Champion Homes in a research note on Friday, January 9th. Barclays raised their price objective on shares of Champion Homes from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Finally, CJS Securities raised shares of Champion Homes to a “strong-buy” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Champion Homes presently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

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.