Champion Homes, Inc. (NYSE:SKY) Receives $80.60 Consensus Price Target from Brokerages

Shares of Champion Homes, Inc. (NYSE:SKY) have been given a consensus recommendation of “Hold” by the six ratings firms that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $80.60.

A number of research firms recently issued reports on SKY. Royal Bank Of Canada decreased their target price on shares of Champion Homes from $96.00 to $82.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 28th. Barclays decreased their price objective on shares of Champion Homes from $97.00 to $72.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 28th. Finally, Zelman & Associates upgraded shares of Champion Homes from a “strong sell” rating to a “hold” rating in a report on Thursday, June 5th.

Hedge Funds Weigh In On Champion Homes

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Research Global Investors bought a new position in Champion Homes during the fourth quarter worth $98,978,000. Vanguard Group Inc. grew its stake in Champion Homes by 17.3% in the 4th quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company’s stock valued at $523,578,000 after purchasing an additional 876,712 shares during the period. Norges Bank bought a new position in shares of Champion Homes during the 4th quarter worth $69,346,000. Alliancebernstein L.P. raised its holdings in shares of Champion Homes by 67.1% in the 1st quarter. Alliancebernstein L.P. now owns 1,716,459 shares of the company’s stock valued at $162,652,000 after acquiring an additional 689,265 shares in the last quarter. Finally, Capital World Investors raised its holdings in shares of Champion Homes by 31.5% during the 4th quarter. Capital World Investors now owns 2,638,862 shares of the company’s stock valued at $232,484,000 after buying an additional 632,718 shares in the last quarter.

Champion Homes Stock Performance

Champion Homes stock opened at $65.00 on Friday. The stock’s 50 day moving average is $70.43 and its 200 day moving average is $84.78. The company has a quick ratio of 1.61, a current ratio of 2.41 and a debt-to-equity ratio of 0.02. Champion Homes has a twelve month low of $59.44 and a twelve month high of $116.49. The company has a market capitalization of $3.72 billion, a P/E ratio of 19.01 and a beta of 1.16.

Champion Homes (NYSE:SKY) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The firm had revenue of $593.87 million for the quarter, compared to analysts’ expectations of $595.42 million. Champion Homes had a net margin of 7.99% and a return on equity of 13.61%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 EPS. On average, equities research analysts predict that Champion Homes will post 3.63 earnings per share for the current fiscal year.

Champion Homes declared that its Board of Directors has authorized a stock repurchase plan on Friday, May 30th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.