Champion Homes (NYSE:SKY) Raised to Hold at Zacks Research

Champion Homes (NYSE:SKY) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

SKY has been the topic of a number of other reports. UBS Group began coverage on shares of Champion Homes in a research report on Friday, June 5th. They issued a “buy” rating and a $93.00 price objective on the stock. Weiss Ratings cut shares of Champion Homes from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 27th. Barclays lifted their target price on shares of Champion Homes from $94.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Citigroup assumed coverage on shares of Champion Homes in a research note on Friday, June 5th. They set a “buy” rating and a $93.00 price target on the stock. Finally, Royal Bank Of Canada cut their price target on shares of Champion Homes from $101.00 to $92.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Champion Homes Stock Up 1.4%

Champion Homes stock opened at $83.41 on Monday. The stock has a 50 day moving average of $79.84 and a two-hundred day moving average of $81.54. Champion Homes has a twelve month low of $60.13 and a twelve month high of $99.17. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 22.79 and a beta of 1.00. The company has a current ratio of 2.48, a quick ratio of 1.69 and a debt-to-equity ratio of 0.01.

Champion Homes (NYSE:SKY) last released its earnings results on Tuesday, May 26th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Champion Homes had a return on equity of 13.80% and a net margin of 7.77%.The business had revenue of $621.28 million for the quarter, compared to analyst estimates of $607.39 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, research analysts expect that Champion Homes 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 Champion Homes stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $75.70, for a total transaction of $599,695.40. Following the completion of the sale, the executive vice president directly owned 36,118 shares in the company, valued at approximately $2,734,132.60. This trade represents a 17.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Champion Homes

Several hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP raised its holdings in Champion Homes by 221.3% during the first quarter. Wasatch Advisors LP now owns 2,736,767 shares of the company’s stock worth $203,533,000 after purchasing an additional 1,885,046 shares during the last quarter. Marshall Wace LLP grew its position in shares of Champion Homes by 1,149.3% in the third quarter. Marshall Wace LLP now owns 1,397,642 shares of the company’s stock valued at $106,738,000 after purchasing an additional 1,285,768 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Champion Homes during the 4th quarter worth approximately $90,282,000. Bank of Montreal Can raised its position in shares of Champion Homes by 14,014.0% during the 4th quarter. Bank of Montreal Can now owns 826,232 shares of the company’s stock worth $69,817,000 after purchasing an additional 820,378 shares during the last quarter. Finally, Bamco Inc. NY acquired a new position in shares of Champion Homes during the 4th quarter worth approximately $61,308,000.

Champion Homes Company Profile

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.