Champion Homes (NYSE:SKY – Free Report) had its price objective lifted by Royal Bank Of Canada from $94.00 to $99.00 in a research report sent to investors on Thursday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.
SKY has been the subject of several other reports. Barclays boosted their target price on shares of Champion Homes from $109.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday. Zacks Research upgraded shares of Champion Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. 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. Oppenheimer assumed coverage on shares of Champion Homes in a research note on Wednesday, September 30th. They set a “market perform” rating on the stock. Finally, Zelman & Associates raised shares of Champion Homes from a “hold” rating to an “outperform” rating in a research report on Thursday, August 6th. One equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $104.25.
Read Our Latest Stock Analysis on Champion Homes
Champion Homes Trading Down 3.2%
Champion Homes stock opened at $93.06 on Thursday. The business has a 50-day simple moving average of $83.97 and a two-hundred day simple moving average of $82.45. The company has a market cap of $5.05 billion, a P/E ratio of 27.61 and a beta of 1.03. Champion Homes has a 52-week low of $63.87 and a 52-week high of $99.17. The company has a quick ratio of 1.97, a current ratio of 2.75 and a debt-to-equity ratio of 0.01.
Champion Homes (NYSE:SKY – Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.95 EPS for the quarter, beating 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 firm had revenue of $727.03 million during the quarter, compared to analyst estimates of $719.71 million. During the same quarter in the prior year, the firm earned $1.03 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts predict that Champion Homes will post 3.40 EPS for the current year.
Insider Buying and Selling
In other news, Director Michael Berman sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was 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 of the company’s stock, valued at $636,226.50. This trade represents a 18.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Maryland State Retirement & Pension System raised its stake in Champion Homes by 49.9% during the 3rd quarter. Maryland State Retirement & Pension System now owns 12,053 shares of the company’s stock worth $1,033,000 after acquiring an additional 4,010 shares during the period. Jacobi Capital Management LLC purchased a new position in Champion Homes during the third quarter valued at approximately $62,000. Illinois Municipal Retirement Fund lifted its holdings in Champion Homes by 6.3% during the third quarter. Illinois Municipal Retirement Fund now owns 30,511 shares of the company’s stock valued at $2,615,000 after purchasing an additional 1,801 shares in the last quarter. Bryn Mawr Trust Advisors LLC lifted its holdings in Champion Homes by 3.2% during the third quarter. Bryn Mawr Trust Advisors LLC now owns 15,553 shares of the company’s stock valued at $1,333,000 after purchasing an additional 481 shares in the last quarter. Finally, Garde Capital Inc. bought a new position in shares of Champion Homes in the third quarter worth approximately $206,000.
More Champion Homes News
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 Company 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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