VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Champion Homes, Inc. (NYSE:SKY – Free Report) by 154.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,900 shares of the company’s stock after purchasing an additional 5,400 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Champion Homes were worth $763,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in Champion Homes in the second quarter valued at $794,354,000. Wasatch Advisors LP grew its position in Champion Homes by 0.4% during the second quarter. Wasatch Advisors LP now owns 2,747,516 shares of the company’s stock valued at $242,111,000 after acquiring an additional 10,749 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Champion Homes by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,736,164 shares of the company’s stock worth $129,111,000 after acquiring an additional 80,531 shares in the last quarter. Congress Asset Management Co. lifted its holdings in shares of Champion Homes by 0.8% in the 3rd quarter. Congress Asset Management Co. now owns 1,222,557 shares of the company’s stock worth $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 in the 2nd quarter valued at $52,406,000.
Wall Street Analyst Weigh In
SKY has been the subject of several analyst reports. Zacks Research upgraded Champion Homes from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Weiss Ratings raised shares of Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Oppenheimer initiated coverage on Champion Homes in a research note on Wednesday, September 30th. They issued a “market perform” rating on the stock. UBS Group increased their price objective on Champion Homes from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada lifted their price objective on Champion Homes from $94.00 to $99.00 and gave the stock an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $104.25.
Check Out Our Latest Stock Report on Champion Homes
Champion Homes Price Performance
SKY opened at $93.06 on Friday. Champion Homes, Inc. has a 12-month low of $63.87 and a 12-month high of $99.17. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 27.61 and a beta of 1.03. The company has a current ratio of 2.75, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $83.97 and a two-hundred day simple moving average of $82.45.
Champion Homes (NYSE:SKY – Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.94 by $0.01. Champion Homes had a net margin of 6.84% and a return on equity of 12.17%. The business had revenue of $727.03 million for the quarter, compared to analyst estimates of $719.71 million. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Champion Homes’s quarterly revenue was up 6.2% on a year-over-year basis. Research analysts predict that Champion Homes, Inc. will post 3.40 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Michael Berman sold 1,500 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $93.22, for a total value of $139,830.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is currently owned by corporate insiders.
Champion Homes News Summary
Here are the key news stories impacting Champion Homes this week:
- Positive Sentiment: Quarterly EPS of $0.95 topped estimates, while revenue of $727 million exceeded expectations and grew 6.2% year over year. Zacks earnings report
- Positive Sentiment: Manufacturing orders rose 17% year over year, and captive retail accounted for 39% of second-quarter sales, pointing to activity across the business. The Motley Fool article
- Positive Sentiment: RBC raised its price target to $99 from $94 and maintained an Outperform rating; Barclays lifted its target to $110 from $109 and kept an Overweight rating. These revisions signal continued analyst optimism. RBC price target update
- Negative Sentiment: Despite the sales growth and earnings beat, EPS was down from $1.01 a year earlier, and coverage of the earnings call highlighted cost pressures squeezing margins. That may temper the positive results and analyst outlook. 247WallSt earnings analysis
Champion Homes Profile
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.
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