Champion Homes (NYSE:SKY) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Champion Homes, Inc. (NYSE:SKY)’s stock price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $82.55 and traded as high as $85.97. Champion Homes shares last traded at $84.99, with a volume of 1,431,889 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SKY shares. Zelman & Associates upgraded Champion Homes from a “hold” rating to an “outperform” rating in a research report on Thursday, August 6th. Barclays upped their price objective on shares of Champion Homes from $102.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Oppenheimer started coverage on shares of Champion Homes in a research report on Wednesday, September 30th. They issued a “market perform” rating for the company. UBS Group lifted their price target on Champion Homes from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Zacks Research raised Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $102.75.

Champion Homes Trading Up 4.9%

The company has a market cap of $4.61 billion, a P/E ratio of 24.78 and a beta of 1.02. 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’s 50 day moving average is $83.98 and its 200-day moving average is $82.55.

Champion Homes (NYSE:SKY) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. The company had revenue of $710.23 million during the quarter, compared to the consensus estimate of $701.98 million. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%. Champion Homes’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the company earned $1.19 EPS. Research analysts anticipate that Champion Homes, Inc. will post 3.40 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Champion Homes news, Director Michael Berman sold 1,500 shares of Champion Homes stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $93.22, for a total transaction of $139,830.00. Following the transaction, the director owned 6,825 shares of the company’s stock, valued at $636,226.50. The trade was a 18.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erin Helgren sold 1,100 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $95.00, for a total value of $104,500.00. Following the sale, the director owned 8,196 shares of the company’s stock, valued at $778,620. This represents a 11.83% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Champion Homes

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Champion Homes during the 2nd quarter valued at approximately $794,354,000. Bank of America Corp DE bought a new stake in Champion Homes in the second quarter worth $52,406,000. Neumeier Poma Investment Counsel LLC purchased a new position in Champion Homes during the second quarter worth $51,446,747. William Blair Investment Management LLC bought a new position in Champion Homes during the second quarter valued at $35,030,000. Finally, Bank of New York Mellon Corp bought a new position in Champion Homes during the second quarter valued at $29,094,000.

About Champion Homes

Champion Homes, Inc (NYSE:SKY) is a manufacturer of factory-built housing in the United States and Canada. The company designs and produces manufactured homes, modular homes and other residential structures in controlled factory environments, offering housing solutions for individual homeowners, developers, retailers and communities.

Its products include single-section and multi-section manufactured homes, modular homes, accessory dwelling units and park model recreational vehicles. Champion Homes markets its products through independent retailers, company-owned retail operations and other distribution channels, and also provides related construction and installation services in selected markets.

The company traces its heritage to the Skyline and Champion businesses, which combined in 2018 to form Skyline Champion Corporation.