Champion Homes (NYSE:SKY) Stock Price Up 4.2% – Here’s Why

Champion Homes, Inc. (NYSE:SKY) rose 4.2% on Friday . The company traded as high as $73.53 and last traded at $73.79. Approximately 532,982 shares changed hands during trading, a decline of 20% from the average daily volume of 663,015 shares. The stock had previously closed at $70.84.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SKY shares. Royal Bank Of Canada increased their price target on Champion Homes from $82.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Champion Homes in a research note on Wednesday, October 8th. Barclays raised their target price on shares of Champion Homes from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Finally, Zacks Research lowered shares of Champion Homes from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $86.00.

Champion Homes Stock Performance

The business has a 50-day moving average of $73.54 and a two-hundred day moving average of $73.66. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.59. The company has a market cap of $4.28 billion, a P/E ratio of 20.14 and a beta of 1.16.

Champion Homes (NYSE:SKY) last announced its earnings results on Tuesday, August 5th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.31. The business had revenue of $701.32 million during the quarter, compared to the consensus estimate of $642.18 million. Champion Homes had a net margin of 8.50% and a return on equity of 14.35%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. On average, sell-side analysts predict that Champion Homes, Inc. will post 3.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Champion Homes news, EVP Joseph A. Kimmell sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $65.24, for a total value of $65,240.00. Following the completion of the sale, the executive vice president directly owned 43,568 shares in the company, valued at $2,842,376.32. This trade represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by insiders.

Institutional Trading of Champion Homes

Hedge funds and other institutional investors have recently made changes to their positions in the business. AdvisorNet Financial Inc purchased a new position in Champion Homes during the 3rd quarter worth $50,000. Caitong International Asset Management Co. Ltd boosted its holdings in Champion Homes by 10,171.4% in the second quarter. Caitong International Asset Management Co. Ltd now owns 719 shares of the company’s stock worth $45,000 after acquiring an additional 712 shares in the last quarter. Byrne Asset Management LLC purchased a new stake in shares of Champion Homes during the second quarter worth about $48,000. AlphaQuest LLC grew its stake in shares of Champion Homes by 1,231.3% during the first quarter. AlphaQuest LLC now owns 852 shares of the company’s stock worth $81,000 after acquiring an additional 788 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Champion Homes by 49.8% during the second quarter. Blue Trust Inc. now owns 900 shares of the company’s stock valued at $56,000 after acquiring an additional 299 shares in the last quarter.

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.