Champion Homes (NYSE:SKY) Stock Price Expected to Rise, Barclays Analyst Says

Champion Homes (NYSE:SKY) had its price objective raised by research analysts at Barclays from $74.00 to $79.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential downside of 5.09% from the stock’s previous close.

Several other equities analysts have also commented on SKY. Royal Bank Of Canada raised shares of Champion Homes from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $85.00 to $91.00 in a report on Thursday. Zacks Research upgraded shares of Champion Homes from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Champion Homes in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $85.00.

Champion Homes Stock Performance

NYSE:SKY opened at $83.24 on Thursday. The business has a 50 day moving average of $73.54 and a 200 day moving average of $72.65. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 22.14 and a beta of 1.14. Champion Homes has a 1-year low of $59.44 and a 1-year high of $116.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.59.

Champion Homes (NYSE:SKY) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.20. The business had revenue of $684.43 million for the quarter, compared to analysts’ expectations of $636.96 million. Champion Homes had a net margin of 8.50% and a return on equity of 14.35%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the business earned $0.93 earnings per share. On average, sell-side analysts predict that Champion Homes will post 3.63 earnings per share for the current fiscal year.

Insider Transactions at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $65.24, for a total transaction of $65,240.00. Following the completion of the transaction, the executive vice president owned 43,568 shares of the company’s stock, valued at $2,842,376.32. This represents a 2.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Champion Homes

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust boosted its holdings in Champion Homes by 257.4% in the third quarter. Parkside Financial Bank & Trust now owns 386 shares of the company’s stock valued at $29,000 after acquiring an additional 278 shares in the last quarter. Salomon & Ludwin LLC bought a new position in Champion Homes in the 3rd quarter worth $30,000. AdvisorNet Financial Inc purchased a new stake in shares of Champion Homes in the 3rd quarter worth about $50,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Champion Homes by 10,171.4% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 719 shares of the company’s stock valued at $45,000 after purchasing an additional 712 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new stake in shares of Champion Homes during the 2nd quarter valued at about $48,000.

Champion Homes Company Profile

Skyline Champion Corporation produces and sells factory-built housing in North America. The company offers manufactured and modular homes, park models RVs, accessory dwelling units, and modular buildings for the multi-family and hospitality sectors. It builds homes under the Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Atlantic Homes, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes brands in the United States; and Moduline and SRI Homes brand names in western Canada.