Champion Homes (NYSE:SKY) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Champion Homes (NYSE:SKY) announced its quarterly earnings results on Tuesday. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.01), FiscalAI reports. The company had revenue of $710.23 million during the quarter, compared to the consensus estimate of $701.98 million. Champion Homes had a return on equity of 13.80% and a net margin of 7.77%.

Champion Homes Price Performance

NYSE:SKY traded up $1.72 during mid-day trading on Tuesday, reaching $82.55. 1,008,229 shares of the stock were exchanged, compared to its average volume of 717,246. The company has a current ratio of 2.48, a quick ratio of 1.69 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average price of $80.64 and a 200 day moving average price of $81.16. Champion Homes has a 1-year low of $63.69 and a 1-year high of $99.17. The firm has a market capitalization of $4.53 billion, a PE ratio of 22.55 and a beta of 1.01.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SKY shares. UBS Group initiated coverage on shares of Champion Homes in a report on Friday, June 5th. They issued a “buy” rating and a $93.00 price objective on the stock. Royal Bank Of Canada lowered their target price on Champion Homes from $101.00 to $92.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Barclays increased their price target on Champion Homes from $94.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. 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. Finally, Zacks Research upgraded shares of Champion Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Insider Buying and Selling at Champion Homes

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 value of $599,695.40. Following the transaction, the executive vice president owned 36,118 shares of the company’s stock, valued at $2,734,132.60. The trade was a 17.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Champion Homes

Large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP lifted its holdings 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 in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in Champion Homes in the 4th quarter worth about $90,282,000. Bank of Montreal Can lifted its stake in Champion Homes by 14,014.0% in the 4th quarter. Bank of Montreal Can now owns 826,232 shares of the company’s stock worth $69,817,000 after acquiring an additional 820,378 shares in the last quarter. Alyeska Investment Group L.P. boosted its position in Champion Homes by 566.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 639,102 shares of the company’s stock worth $54,004,000 after acquiring an additional 543,219 shares during the period. Finally, Invesco Ltd. grew its stake in Champion Homes by 150.6% during the 2nd quarter. Invesco Ltd. now owns 655,107 shares of the company’s stock valued at $41,016,000 after acquiring an additional 393,686 shares in the last quarter.

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.