Champion Homes (NYSE:SKY) Price Target Raised to $79.00

Champion Homes (NYSE:SKY) had its price target lifted by investment analysts at Barclays from $74.00 to $79.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 2.76% from the stock’s previous close.

A number of other analysts also recently issued reports on SKY. Zacks Research upgraded shares of Champion Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Champion Homes in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada raised shares of Champion Homes from a “sector perform” rating to an “outperform” rating and set a $91.00 price target on the stock in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $85.00.

Champion Homes Stock Up 15.6%

Shares of NYSE SKY opened at $76.88 on Thursday. Champion Homes has a 52-week low of $59.44 and a 52-week high of $116.49. The stock has a market cap of $4.34 billion, a P/E ratio of 20.44 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.59 and a current ratio of 2.39. The firm has a 50 day moving average price of $73.26 and a 200 day moving average price of $72.56.

Champion Homes (NYSE:SKY) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.20. The business had revenue of $684.43 million during the quarter, compared to analyst estimates of $636.96 million. Champion Homes had a return on equity of 14.35% and a net margin of 8.50%.Champion Homes’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 EPS. Analysts expect that Champion Homes will post 3.63 EPS for the current year.

Insider Activity

In other news, EVP Joseph A. Kimmell sold 3,000 shares of Champion Homes stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $66.03, for a total transaction of $198,090.00. Following the completion of the transaction, the executive vice president directly owned 44,568 shares in the company, valued at $2,942,825.04. This trade represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Champion Homes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SKY. Alliancebernstein L.P. boosted its position in shares of Champion Homes by 67.1% during the first quarter. Alliancebernstein L.P. now owns 1,716,459 shares of the company’s stock valued at $162,652,000 after buying an additional 689,265 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Champion Homes by 50.8% during the second quarter. American Century Companies Inc. now owns 1,945,434 shares of the company’s stock valued at $121,804,000 after purchasing an additional 655,505 shares in the last quarter. Norges Bank purchased a new position in Champion Homes during the second quarter worth about $40,360,000. Invesco Ltd. increased its holdings in Champion Homes by 150.6% in the 2nd quarter. Invesco Ltd. now owns 655,107 shares of the company’s stock worth $41,016,000 after acquiring an additional 393,686 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Champion Homes by 63.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,007,639 shares of the company’s stock worth $95,484,000 after acquiring an additional 392,159 shares during the last quarter.

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.