Champion Homes (NYSE:SKY) Shares Gap Down – Here’s Why

Champion Homes, Inc. (NYSE:SKY)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $86.02, but opened at $83.21. Champion Homes shares last traded at $81.81, with a volume of 9,183 shares changing hands.

Analyst Upgrades and Downgrades

SKY has been the subject of several research reports. Royal Bank Of Canada decreased their price objective on shares of Champion Homes from $101.00 to $92.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. UBS Group started 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. Barclays boosted their price target on shares of Champion Homes from $94.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Weiss Ratings downgraded shares of Champion Homes from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 27th. Finally, Zacks Research lowered shares of Champion Homes from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Champion Homes Stock Down 1.7%

The company has a quick ratio of 1.69, a current ratio of 2.48 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $4.46 billion, a P/E ratio of 22.27 and a beta of 1.00. The company has a 50-day moving average of $77.82 and a two-hundred day moving average of $81.72.

Champion Homes (NYSE:SKY) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $621.28 million during the quarter, compared to the consensus estimate of $607.39 million. Champion Homes had a return on equity of 13.80% and a net margin of 7.77%.The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 earnings per share. On average, research analysts predict that Champion Homes, Inc. will post 3.4 EPS for the current year.

Insider Activity at Champion Homes

In other news, EVP Joseph A. Kimmell sold 4,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $75.91, for a total value of $303,640.00. Following the sale, the executive vice president directly owned 32,118 shares of the company’s stock, valued at $2,438,077.38. This represents a 11.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SKY. UMB Bank n.a. lifted its position in Champion Homes by 78.9% during the 4th quarter. UMB Bank n.a. now owns 313 shares of the company’s stock valued at $26,000 after acquiring an additional 138 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Champion Homes in the fourth quarter worth about $26,000. Kestra Advisory Services LLC purchased a new stake in Champion Homes in the fourth quarter worth about $26,000. Parallel Advisors LLC increased its stake in shares of Champion Homes by 668.6% during the first quarter. Parallel Advisors LLC now owns 392 shares of the company’s stock valued at $29,000 after purchasing an additional 341 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of Champion Homes during the third quarter valued at approximately $35,000.

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.