Champion Homes (NYSE:SKY) Trading 9.4% Higher – Here’s Why

Champion Homes, Inc. (NYSE:SKY) rose 9.4% during trading on Wednesday . The stock traded as high as $90.33 and last traded at $90.12. 255,317 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 712,482 shares. The stock had previously closed at $82.36.

Analyst Ratings Changes

A number of research analysts have weighed in on SKY shares. Barclays lifted their target price on Champion Homes from $102.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group increased their price target on shares of Champion Homes from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings cut shares of Champion Homes from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 27th. Zelman & Associates raised shares of Champion Homes from a “hold” rating to an “outperform” rating in a report on Thursday. Finally, Zacks Research upgraded shares of Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Champion Homes currently has an average rating of “Moderate Buy” and an average target price of $104.00.

Champion Homes Price Performance

The firm has a market capitalization of $5.14 billion, a P/E ratio of 27.30 and a beta of 1.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.69 and a current ratio of 2.74. The business has a 50 day simple moving average of $81.57 and a two-hundred day simple moving average of $80.99.

Champion Homes (NYSE:SKY) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). The business had revenue of $710.23 million for 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 business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 EPS. On average, sell-side analysts expect that Champion Homes, Inc. will post 3.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Champion Homes news, EVP Joseph A. Kimmell sold 7,922 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $75.70, for a total value of $599,695.40. Following the completion of the transaction, the executive vice president owned 36,118 shares of the company’s stock, valued at $2,734,132.60. The trade was a 17.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd purchased a new stake in Champion Homes during the second quarter valued at about $101,000. Bank of New York Mellon Corp bought a new stake in Champion Homes during the second quarter worth about $29,094,000. State of Wyoming purchased a new position in shares of Champion Homes in the 2nd quarter worth about $578,000. Clearstead Trust LLC purchased a new position in shares of Champion Homes in the 2nd quarter worth about $44,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Champion Homes during the 2nd quarter valued at about $3,612,000.

About Champion Homes

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.