Champion Homes (NYSE:SKY) Upgraded to Hold at Zacks Research

Champion Homes (NYSE:SKY) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Champion Homes in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their price target on Champion Homes from $82.00 to $85.00 and gave the company a “sector perform” rating in a research report on Thursday, August 7th. Finally, Barclays increased their target price on Champion Homes from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Champion Homes currently has a consensus rating of “Hold” and an average target price of $79.50.

Champion Homes Stock Performance

Champion Homes stock opened at $73.51 on Tuesday. The stock has a market cap of $4.15 billion, a P/E ratio of 19.55 and a beta of 1.16. The company has a current ratio of 2.39, a quick ratio of 1.59 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average of $73.26 and a 200-day moving average of $72.56. Champion Homes has a 52 week low of $59.44 and a 52 week high of $116.49.

Champion Homes (NYSE:SKY) last released its earnings results on Tuesday, November 4th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.81 by $0.20. The company had revenue of $684.43 million during the quarter, compared to analysts’ expectations of $636.96 million. Champion Homes had a return on equity of 14.35% and a net margin of 8.50%.The business’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.93 EPS. On average, analysts expect that Champion Homes will post 3.63 EPS for the current fiscal year.

Insider Buying and Selling at Champion Homes

In related news, EVP Joseph A. Kimmell sold 3,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $66.03, for a total value of $198,090.00. Following the completion of the transaction, the executive vice president owned 44,568 shares in the company, valued at $2,942,825.04. This trade represents a 6.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Champion Homes

A number of hedge funds and other institutional investors have recently modified their holdings of SKY. New York State Teachers Retirement System raised its stake in shares of Champion Homes by 3.4% in the 1st quarter. New York State Teachers Retirement System now owns 12,300 shares of the company’s stock valued at $1,166,000 after acquiring an additional 400 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Champion Homes by 2.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 698,052 shares of the company’s stock worth $66,147,000 after buying an additional 15,793 shares during the period. 111 Capital bought a new position in Champion Homes in the 2nd quarter worth approximately $390,000. Driehaus Capital Management LLC increased its position in Champion Homes by 1.9% in the 1st quarter. Driehaus Capital Management LLC now owns 387,439 shares of the company’s stock worth $36,714,000 after buying an additional 7,178 shares during the period. Finally, Citigroup Inc. increased its position in Champion Homes by 15.5% in the 1st quarter. Citigroup Inc. now owns 125,657 shares of the company’s stock worth $11,907,000 after buying an additional 16,876 shares during the period.

About Champion Homes

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.