Commerce Bank Takes Position in Champion Homes, Inc. $SKY

Commerce Bank purchased a new stake in Champion Homes, Inc. (NYSE:SKY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 8,259 shares of the company’s stock, valued at approximately $728,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Los Angeles Capital Management LLC purchased a new stake in Champion Homes during the fourth quarter valued at about $26,000. UMB Bank n.a. increased its position in shares of Champion Homes by 78.9% in the fourth quarter. UMB Bank n.a. now owns 313 shares of the company’s stock worth $26,000 after acquiring an additional 138 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Champion Homes in the fourth quarter worth approximately $26,000. Parallel Advisors LLC increased its position in shares of Champion Homes by 668.6% in the first quarter. Parallel Advisors LLC now owns 392 shares of the company’s stock worth $29,000 after acquiring an additional 341 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Champion Homes during the third quarter valued at approximately $35,000.

Insider Transactions at Champion Homes

In other news, EVP Joseph A. Kimmell sold 7,922 shares of the company’s stock in a transaction 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 transaction, the executive vice president directly owned 36,118 shares of the company’s stock, valued at approximately $2,734,132.60. This represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael B. Berman sold 1,500 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $93.22, for a total value of $139,830.00. Following the sale, the director owned 6,825 shares of the company’s stock, valued at approximately $636,226.50. This represents a 18.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 14,522 shares of company stock valued at $1,147,665. 0.60% of the stock is owned by insiders.

Champion Homes Stock Performance

SKY stock opened at $91.20 on Thursday. The firm has a 50 day simple moving average of $86.15 and a 200 day simple moving average of $81.58. Champion Homes, Inc. has a 52 week low of $63.69 and a 52 week high of $99.17. The stock has a market cap of $4.95 billion, a P/E ratio of 26.59 and a beta of 1.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 2.74.

Champion Homes (NYSE:SKY) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.01. Champion Homes had a net margin of 7.16% and a return on equity of 12.52%. The firm had revenue of $710.23 million for the quarter, compared to analyst estimates of $701.98 million. During the same quarter in the prior year, the business earned $1.19 EPS. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. Research analysts anticipate that Champion Homes, Inc. will post 3.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SKY. UBS Group upped their price target on shares of Champion Homes from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Citigroup began coverage on shares of Champion Homes in a research note on Friday, June 5th. They set a “buy” rating and a $93.00 target price on the stock. Zacks Research upgraded Champion Homes from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Royal Bank Of Canada raised their target price on Champion Homes from $92.00 to $99.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Zelman & Associates upgraded Champion Homes from a “hold” rating to an “outperform” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Champion Homes has an average rating of “Moderate Buy” and an average target price of $104.00.

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.