Champion Homes, Inc. (NYSE:SKY) Short Interest Update

Champion Homes, Inc. (NYSE:SKY) was the recipient of a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 2,735,465 shares, a decline of 40.1% from the July 15th total of 4,566,369 shares. Based on an average trading volume of 571,530 shares, the short-interest ratio is presently 4.8 days. Currently, 5.1% of the company’s shares are sold short.

Champion Homes Trading Up 2.5%

Champion Homes stock traded up $2.27 during mid-day trading on Wednesday, hitting $93.14. 431,008 shares of the company’s stock were exchanged, compared to its average volume of 714,525. The firm has a market capitalization of $5.06 billion, a P/E ratio of 27.16 and a beta of 1.01. Champion Homes has a fifty-two week low of $63.69 and a fifty-two week high of $99.17. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 0.01. The company’s 50 day simple moving average is $84.71 and its 200-day simple moving average is $81.12.

Champion Homes (NYSE:SKY) last posted its earnings results on Tuesday, August 4th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.01. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%.The firm had revenue of $710.23 million for the quarter, compared to analyst estimates of $701.98 million. During the same period in the previous year, the company posted $1.19 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities analysts anticipate that Champion Homes will post 3.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Zacks Research raised Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Weiss Ratings upgraded Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. UBS Group upped their price target on Champion Homes from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Citigroup assumed coverage on shares of Champion Homes in a research report on Friday, June 5th. They issued a “buy” rating and a $93.00 price target on the stock. Finally, Royal Bank Of Canada lifted their price objective on shares of Champion Homes from $92.00 to $99.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Champion Homes has an average rating of “Moderate Buy” and a consensus price target of $104.00.

Insiders Place Their Bets

In other Champion Homes news, EVP Joseph A. Kimmell sold 4,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $75.91, for a total transaction of $303,640.00. Following the completion of the sale, the executive vice president owned 32,118 shares in the company, valued at approximately $2,438,077.38. The trade was a 11.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Erin Claire Helgren sold 1,100 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $95.00, for a total value of $104,500.00. Following the completion of the transaction, the director directly owned 8,196 shares in the company, valued at approximately $778,620. This trade represents a 11.83% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 14,522 shares of company stock valued at $1,147,665. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Champion Homes

Several institutional investors and hedge funds have recently modified their holdings of SKY. Empowered Funds LLC acquired a new stake in Champion Homes during the 2nd quarter worth approximately $810,000. Public Employees Retirement System of Ohio acquired a new position in shares of Champion Homes in the second quarter valued at approximately $85,000. Almitas Capital LLC acquired a new position in shares of Champion Homes in the second quarter valued at approximately $441,000. Corient Private Wealth LP bought a new stake in shares of Champion Homes during the second quarter worth $411,000. Finally, Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Champion Homes during the second quarter worth $6,265,508,000.

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.