Barclays Issues Positive Forecast for Champion Homes (NYSE:SKY) Stock Price

Champion Homes (NYSE:SKY) had its target price upped by Barclays from $109.00 to $110.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

SKY has been the subject of several other research reports. Zelman & Associates raised shares of Champion Homes from a “hold” rating to an “outperform” rating in a research note on Thursday, August 6th. UBS Group increased their target price on shares of Champion Homes from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Oppenheimer started coverage on shares of Champion Homes in a report on Wednesday, September 30th. They issued a “market perform” rating for the company. Royal Bank Of Canada reduced their price target on shares of Champion Homes from $99.00 to $94.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Finally, Weiss Ratings upgraded shares of Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.25.

Champion Homes Price Performance

Champion Homes stock opened at $93.06 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.75 and a quick ratio of 1.97. The firm has a market capitalization of $5.05 billion, a P/E ratio of 27.61 and a beta of 1.03. Champion Homes has a one year low of $63.87 and a one year high of $99.17. The business has a fifty day moving average price of $83.97 and a 200-day moving average price of $82.45.

Champion Homes (NYSE:SKY) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. Champion Homes had a net margin of 6.84% and a return on equity of 12.17%. The firm had revenue of $727.03 million for the quarter, compared to the consensus estimate of $719.71 million. During the same period in the prior year, the firm posted $1.03 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts forecast that Champion Homes will post 3.40 EPS for the current year.

Insider Buying and Selling

In other Champion Homes news, Director Michael Berman sold 1,500 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were 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 $636,226.50. This trade represents a 18.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Champion Homes

A number of institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC raised its holdings in Champion Homes by 668.6% during the 1st quarter. Parallel Advisors LLC now owns 392 shares of the company’s stock valued at $29,000 after buying an additional 341 shares during the last quarter. Clearstead Trust LLC purchased a new stake in Champion Homes during the 2nd quarter valued at $44,000. Versant Capital Management Inc boosted its position in Champion Homes by 80.3% during the 3rd quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $46,000 after buying an additional 241 shares during the period. Jacobi Capital Management LLC bought a new stake in Champion Homes in the 3rd quarter worth $62,000. Finally, Assetmark Inc. grew its holdings in Champion Homes by 16.8% in the 1st quarter. Assetmark Inc. now owns 1,000 shares of the company’s stock worth $74,000 after acquiring an additional 144 shares during the last quarter.

Key Headlines Impacting Champion Homes

Here are the key news stories impacting Champion Homes this week:

• Positive Sentiment: Quarterly EPS of $0.95 topped estimates, while revenue of $727 million exceeded expectations and grew 6.2% year over year. Zacks earnings report
• Positive Sentiment: Manufacturing orders rose 17% year over year, and captive retail accounted for 39% of second-quarter sales, pointing to activity across the business. The Motley Fool article
• Positive Sentiment: RBC raised its price target to $99 from $94 and maintained an Outperform rating; Barclays lifted its target to $110 from $109 and kept an Overweight rating. These revisions signal continued analyst optimism. RBC price target update
• Negative Sentiment: Despite the sales growth and earnings beat, EPS was down from $1.01 a year earlier, and coverage of the earnings call highlighted cost pressures squeezing margins. That may temper the positive results and analyst outlook. 247WallSt earnings analysis

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.