Commerce Bank bought a new stake in Champion Homes, Inc. (NYSE:SKY – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,259 shares of the company’s stock, valued at approximately $728,000.
Several other large investors also recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in shares of Champion Homes by 66.1% during the 1st quarter. Royal Bank of Canada now owns 10,804 shares of the company’s stock worth $1,024,000 after purchasing an additional 4,301 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Champion Homes in the 1st quarter valued at $294,000. Millennium Management LLC lifted its stake in shares of Champion Homes by 712.0% in the 1st quarter. Millennium Management LLC now owns 70,029 shares of the company’s stock valued at $6,636,000 after purchasing an additional 61,405 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Champion Homes in the second quarter worth $408,000. Finally, Invesco Ltd. boosted its holdings in Champion Homes by 150.6% in the second quarter. Invesco Ltd. now owns 655,107 shares of the company’s stock worth $41,016,000 after purchasing an additional 393,686 shares in the last quarter.
Wall Street Analyst Weigh In
Several research firms have commented on SKY. Weiss Ratings raised shares of Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. UBS Group boosted their price target on Champion Homes from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Zelman & Associates upgraded Champion Homes from a “hold” rating to an “outperform” rating in a research note on Thursday, August 6th. Citigroup assumed coverage on Champion Homes in a report on Friday, June 5th. They set a “buy” rating and a $93.00 price objective on the stock. Finally, Royal Bank Of Canada raised their price objective on Champion Homes from $92.00 to $99.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.00.
Champion Homes Price Performance
Shares of Champion Homes stock opened at $91.20 on Thursday. 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 firm has a fifty day simple moving average of $86.15 and a 200-day simple moving average of $81.58. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 26.59 and a beta of 1.01. Champion Homes, Inc. has a 1-year low of $63.69 and a 1-year high of $99.17.
Champion Homes (NYSE:SKY – Get Free Report) last posted its earnings results 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 business had revenue of $710.23 million for the quarter, compared to analyst estimates of $701.98 million. Champion Homes had a net margin of 7.16% and a return on equity of 12.52%. Champion Homes’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $1.19 EPS. On average, sell-side analysts expect that Champion Homes, Inc. will post 3.4 earnings per share for the current year.
Insiders Place Their Bets
In other news, EVP Joseph A. Kimmell sold 7,922 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $75.70, for a total value of $599,695.40. Following the sale, the executive vice president directly owned 36,118 shares of the company’s stock, valued at approximately $2,734,132.60. This trade represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael B. Berman sold 1,500 shares of Champion Homes 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 completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,522 shares of company stock valued at $1,147,665 in the last quarter. Insiders own 0.60% of the company’s stock.
About Champion Homes
Champion Homes, traded under the NYSE ticker SKY, operates as a leading provider of factory-built housing solutions in North America. The company specializes in the design, manufacture and sale of manufactured and modular homes, serving a broad spectrum of customers from first-time homebuyers to those seeking upscale residential properties. Champion Homes leverages vertically integrated operations to streamline production, ensuring consistent quality and cost efficiencies across its product lines.
The company’s product portfolio encompasses single- and multi-section modular homes, manufactured home models, park models and select commercial modular buildings.
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