Champion Homes (NYSE:SKY) Stock Gets Price Target Reduction from Royal Bank Of Canada

Champion Homes (NYSE:SKY) had its target price decreased by Royal Bank Of Canada from $99.00 to $94.00 in a research note published on Thursday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

SKY has been the subject of a number of other reports. Barclays upped their price objective on shares of Champion Homes from $102.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Oppenheimer assumed coverage on Champion Homes in a report on Wednesday, September 30th. They set a “market perform” rating on the stock. 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. Weiss Ratings upgraded Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Finally, Zacks Research upgraded Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Champion Homes has a consensus rating of “Moderate Buy” and a consensus price target of $102.75.

Champion Homes Price Performance

NYSE SKY opened at $77.56 on Thursday. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $4.21 billion, a PE ratio of 22.61 and a beta of 1.02. The company has a 50 day moving average price of $86.68 and a two-hundred day moving average price of $81.40. Champion Homes has a 12-month low of $63.87 and a 12-month high of $99.17.

Champion Homes (NYSE:SKY) last posted its earnings results on Tuesday, August 4th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. The company had revenue of $710.23 million during the quarter, compared to the consensus estimate of $701.98 million. Champion Homes had a net margin of 7.16% and a return on equity of 12.52%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 earnings per share. As a group, equities analysts predict that Champion Homes will post 3.40 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael Berman sold 1,500 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $93.22, for a total value of $139,830.00. Following the completion of the sale, the director directly owned 6,825 shares in the company, valued at approximately $636,226.50. The trade was a 18.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Erin Helgren sold 1,100 shares of the business’s stock in a transaction 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 owned 8,196 shares of the company’s stock, valued at $778,620. The trade was a 11.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SKY. Assenagon Asset Management S.A. lifted its position in shares of Champion Homes by 177.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 57,793 shares of the company’s stock worth $4,953,000 after purchasing an additional 36,934 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in Champion Homes by 2.2% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 374,218 shares of the company’s stock valued at $32,070,000 after buying an additional 8,002 shares during the last quarter. GAMMA Investing LLC grew its holdings in Champion Homes by 40.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,113 shares of the company’s stock valued at $181,000 after buying an additional 608 shares during the last quarter. Congress Asset Management Co. increased its position in Champion Homes by 0.8% in the 3rd quarter. Congress Asset Management Co. now owns 1,222,557 shares of the company’s stock worth $104,773,000 after buying an additional 9,597 shares during the period. Finally, Versant Capital Management Inc increased its position in Champion Homes by 80.3% in the 3rd quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $46,000 after buying an additional 241 shares during the period.

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.