Champion Homes (NYSE:SKY) Stock Price Down 7.1% – Should You Sell?

Champion Homes, Inc. (NYSE:SKY) traded down 7.1% on Wednesday. The stock traded as low as $80.28 and last traded at $79.78. 298,409 shares traded hands during trading, a decline of 57% from the average session volume of 686,687 shares. The stock had previously closed at $85.89.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SKY. Barclays boosted their price target on Champion Homes from $102.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Royal Bank Of Canada lifted their target price on Champion Homes from $92.00 to $99.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Zacks Research raised Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Oppenheimer initiated coverage on shares of Champion Homes in a report on Wednesday, September 30th. They issued a “market perform” rating for the company. Finally, UBS Group raised their price target on shares of Champion Homes from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Champion Homes currently has a consensus rating of “Moderate Buy” and an average target price of $104.00.

Champion Homes Price Performance

The firm has a market cap of $4.34 billion, a P/E ratio of 23.33 and a beta of 1.02. 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 business has a 50-day moving average of $87.67 and a two-hundred day moving average of $81.18.

Champion Homes (NYSE:SKY) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.01. The company had revenue of $710.23 million for the quarter, compared to analysts’ expectations of $701.98 million. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%.The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.19 earnings per share. On average, sell-side analysts anticipate that Champion Homes, Inc. will post 3.4 earnings per share for the current fiscal year.

Insider Transactions at Champion Homes

In other news, Director Michael B. Berman sold 1,500 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $93.22, for a total transaction of $139,830.00. Following the completion of the transaction, the director directly owned 6,825 shares of the company’s stock, valued at $636,226.50. This represents a 18.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Erin Helgren sold 1,100 shares of Champion Homes stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $95.00, for a total transaction of $104,500.00. Following the completion of the sale, the director directly owned 8,196 shares in the company, valued at $778,620. This trade represents a 11.83% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Champion Homes

Several hedge funds have recently added to or reduced their stakes in SKY. Congress Asset Management Co. grew its holdings in shares of Champion Homes by 0.8% during the 3rd quarter. Congress Asset Management Co. now owns 1,222,557 shares of the company’s stock valued at $104,773,000 after purchasing an additional 9,597 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Champion Homes by 80.3% during the 3rd quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $46,000 after acquiring an additional 241 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in Champion Homes during the 2nd quarter worth approximately $209,000. Tidal Investments LLC increased its stake in Champion Homes by 0.8% in the 2nd quarter. Tidal Investments LLC now owns 187,847 shares of the company’s stock worth $16,553,000 after purchasing an additional 1,421 shares during the period. Finally, Nykredit A S purchased a new stake in shares of Champion Homes during the second quarter valued at approximately $196,000.

Champion Homes Company Profile

Champion Homes, Inc (NYSE:SKY) is a manufacturer of factory-built housing in North America. The company designs and produces manufactured and modular homes, along with park model recreational vehicles and other off-site construction products. Its homes are sold through independent and company-owned retailers, developers, and other housing channels.

The company’s products serve a range of residential needs, including affordable single-family housing, workforce housing, multifamily developments, accessory dwelling units, and disaster-recovery housing.