Champion Homes (NYSE:SKY) Issues Earnings Results

Champion Homes (NYSE:SKY) issued its earnings results on Wednesday. The company reported $999.00 earnings per share for the quarter, Zacks reports. Champion Homes had a net margin of 8.10% and a return on equity of 13.85%.

Champion Homes Trading Down 2.3%

Champion Homes stock traded down $1.61 during midday trading on Wednesday, reaching $67.36. The stock had a trading volume of 935,565 shares, compared to its average volume of 672,767. The firm’s fifty day simple moving average is $77.68 and its two-hundred day simple moving average is $82.77. Champion Homes has a twelve month low of $59.44 and a twelve month high of $99.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.71 and a quick ratio of 1.89. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 17.92 and a beta of 1.07.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SKY. Barclays reduced their target price on shares of Champion Homes from $111.00 to $106.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Weiss Ratings restated a “hold (c)” rating on shares of Champion Homes in a report on Monday, April 20th. Finally, Zelman & Associates cut shares of Champion Homes from an “outperform” rating to a “hold” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Champion Homes currently has a consensus rating of “Moderate Buy” and an average price target of $103.50.

Insider Buying and Selling

In related news, EVP Joseph A. Kimmell sold 2,880 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $82.25, for a total value of $236,880.00. Following the completion of the transaction, the executive vice president owned 51,297 shares of the company’s stock, valued at approximately $4,219,178.25. This trade represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Champion Homes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Champion Homes by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,800,562 shares of the company’s stock worth $366,619,000 after purchasing an additional 333,666 shares during the period. State Street Corp lifted its position in Champion Homes by 4.0% in the 2nd quarter. State Street Corp now owns 2,579,091 shares of the company’s stock worth $161,477,000 after buying an additional 98,659 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Champion Homes by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,655,633 shares of the company’s stock worth $139,904,000 after buying an additional 125,114 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Champion Homes by 7.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,411,351 shares of the company’s stock worth $107,785,000 after buying an additional 91,989 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Champion Homes by 1,149.3% in the 3rd quarter. Marshall Wace LLP now owns 1,397,642 shares of the company’s stock worth $106,738,000 after buying an additional 1,285,768 shares in the last quarter.

Champion Homes Company Profile

Champion Homes, traded under the NYSE ticker SKY, operates as a leading provider of factory-built housing solutions in North America. The company specializes in the design, manufacture and sale of manufactured and modular homes, serving a broad spectrum of customers from first-time homebuyers to those seeking upscale residential properties. Champion Homes leverages vertically integrated operations to streamline production, ensuring consistent quality and cost efficiencies across its product lines.

The company’s product portfolio encompasses single- and multi-section modular homes, manufactured home models, park models and select commercial modular buildings.