Champion Homes (NYSE:SKY) Posts Earnings Results, Beats Expectations By $0.01 EPS

Champion Homes (NYSE:SKY) issued its earnings results on Tuesday. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.94 by $0.01, FiscalAI reports. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%. The company had revenue of $727.03 million during the quarter, compared to the consensus estimate of $719.71 million. During the same period in the previous year, the company posted $1.03 EPS.

Champion Homes Stock Performance

NYSE SKY traded down $2.32 on Tuesday, reaching $86.38. The stock had a trading volume of 1,016,356 shares, compared to its average volume of 685,787. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.74 and a quick ratio of 1.97. The company has a market cap of $4.69 billion, a P/E ratio of 25.18 and a beta of 1.02. The firm has a fifty day moving average of $83.95 and a two-hundred day moving average of $82.52. Champion Homes has a 1-year low of $63.87 and a 1-year high of $99.17.

Wall Street Analysts Forecast Growth

SKY has been the topic of a number of research analyst reports. Oppenheimer initiated coverage on Champion Homes in a research note on Wednesday, September 30th. They issued a “market perform” rating on the stock. Zelman & Associates raised Champion Homes from a “hold” rating to an “outperform” rating in a report on Thursday, August 6th. Weiss Ratings raised shares of Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. Barclays upped their price objective on shares of Champion Homes from $102.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Zacks Research upgraded shares of Champion Homes from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Champion Homes has a consensus rating of “Moderate Buy” and a consensus target price of $102.75.

Insiders Place Their Bets

In related news, Director Erin Helgren sold 1,100 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $95.00, for a total value of $104,500.00. Following the transaction, the director directly owned 8,196 shares in the company, valued at approximately $778,620. This represents a 11.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael B. Berman sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $93.22, for a total transaction of $139,830.00. Following the transaction, the director directly owned 6,825 shares in the company, valued at approximately $636,226.50. This represents a 18.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is currently owned by company insiders.

About Champion Homes

Champion Homes, Inc (NYSE:SKY) is a manufacturer of factory-built housing in the United States and Canada. The company designs and produces manufactured homes, modular homes and other residential structures in controlled factory environments, offering housing solutions for individual homeowners, developers, retailers and communities.

Its products include single-section and multi-section manufactured homes, modular homes, accessory dwelling units and park model recreational vehicles. Champion Homes markets its products through independent retailers, company-owned retail operations and other distribution channels, and also provides related construction and installation services in selected markets.

The company traces its heritage to the Skyline and Champion businesses, which combined in 2018 to form Skyline Champion Corporation.