Champion Homes (NYSE:SKY) Shares Climb 5.4% – Here’s Why

Champion Homes, Inc. (NYSE:SKY) shares were up 5.4% during mid-day trading on Friday. The company traded as high as $85.97 and last traded at $85.4320. Approximately 291,857 shares were traded during trading, a decline of 57% from the average session volume of 676,360 shares. The stock had previously closed at $81.05.

Analyst Ratings Changes

A number of brokerages have issued reports on SKY. Zacks Research raised Champion Homes from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Barclays lifted their target price on shares of Champion Homes from $102.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Royal Bank Of Canada dropped their price target on Champion Homes from $99.00 to $94.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. UBS Group increased their price objective on shares of Champion Homes from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Champion Homes presently has an average rating of “Moderate Buy” and an average target price of $102.75.

Champion Homes Stock Up 3.0%

The firm has a market capitalization of $4.53 billion, a P/E ratio of 24.38 and a beta of 1.02. The firm’s 50 day moving average is $84.08 and its two-hundred day moving average is $82.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.74 and a quick ratio of 1.97.

Champion Homes (NYSE:SKY) last posted its quarterly earnings data 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. The firm had revenue of $710.23 million during the quarter, compared to the consensus estimate of $701.98 million. Champion Homes had a net margin of 7.16% and a return on equity of 12.52%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS. Research analysts predict that Champion Homes, Inc. will post 3.40 EPS for the current year.

Insider Activity

In other Champion Homes news, Director Michael B. Berman sold 1,500 shares of the company’s stock in a transaction 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 sale, the director owned 6,825 shares of the company’s stock, valued at approximately $636,226.50. This represents a 18.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Erin Helgren sold 1,100 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were 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 in the company, valued at approximately $778,620. The trade was a 11.83% 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 insiders.

Hedge Funds Weigh In On Champion Homes

A number of large investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Champion Homes in the 2nd quarter worth $794,354,000. Wasatch Advisors LP boosted 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 worth $242,111,000 after purchasing an additional 10,749 shares during the period. Dimensional Fund Advisors LP lifted its stake in Champion Homes by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,736,164 shares of the company’s stock worth $129,111,000 after purchasing an additional 80,531 shares in the last quarter. Congress Asset Management Co. boosted its position in shares of Champion Homes by 0.8% during the 3rd quarter. Congress Asset Management Co. now owns 1,222,557 shares of the company’s stock valued at $104,773,000 after acquiring an additional 9,597 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Champion Homes during the 2nd quarter valued at $52,406,000.

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.