Champion Homes (NYSE:SKY) Upgraded to “Outperform” at Zelman & Associates

Champion Homes (NYSE:SKY) was upgraded by equities researchers at Zelman & Associates from a “neutral” rating to an “outperform” rating in a research note issued to investors on Friday,Benzinga reports.

A number of other equities research analysts have also issued reports on SKY. Royal Bank Of Canada raised shares of Champion Homes from a “sector perform” rating to an “outperform” rating and upped their price objective 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 report on Tuesday. Barclays lifted their price target on shares of Champion Homes from $74.00 to $79.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Champion Homes in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.00.

Champion Homes Price Performance

NYSE:SKY opened at $81.13 on Friday. Champion Homes has a one year low of $59.44 and a one year high of $116.49. The stock has a market cap of $4.59 billion, a PE ratio of 21.58 and a beta of 1.14. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.59 and a current ratio of 2.39. The stock has a 50 day moving average price of $73.39 and a 200 day moving average price of $72.62.

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

Insider Transactions at Champion Homes

In related news, EVP Joseph A. Kimmell sold 1,000 shares of the firm’s stock in a transaction dated 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 directly owned 43,568 shares in the company, valued at $2,842,376.32. This trade represents a 2.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

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

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.