Champion Homes (NYSE:SKY) Trading 9.4% Higher – Here’s Why

Champion Homes, Inc. (NYSE:SKY) shares rose 9.4% during mid-day trading on Wednesday . The company traded as high as $90.33 and last traded at $90.12. Approximately 255,317 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 712,482 shares. The stock had previously closed at $82.36.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SKY. Barclays upped their target price on shares of Champion Homes from $94.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings lowered shares of Champion Homes from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 27th. Citigroup assumed coverage on shares of Champion Homes in a research report on Friday, June 5th. They issued a “buy” rating and a $93.00 price target for the company. Zacks Research upgraded shares of Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Royal Bank Of Canada dropped their price objective on Champion Homes from $101.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Champion Homes Price Performance

The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 24.91 and a beta of 1.01. The company has a fifty day moving average price of $80.85 and a two-hundred day moving average price of $81.07. The company has a quick ratio of 1.69, a current ratio of 2.48 and a debt-to-equity ratio of 0.01.

Champion Homes (NYSE:SKY) last announced its earnings results on Tuesday, August 4th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). The business had revenue of $710.23 million for the quarter, compared to analysts’ expectations of $701.98 million. Champion Homes had a return on equity of 13.80% and a net margin of 7.77%.The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business posted $1.19 earnings per share. On average, equities research analysts expect that Champion Homes, Inc. will post 3.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Champion Homes news, EVP Joseph A. Kimmell sold 4,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $75.91, for a total transaction of $303,640.00. Following the transaction, the executive vice president directly owned 32,118 shares of the company’s stock, valued at approximately $2,438,077.38. This trade represents a 11.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Champion Homes

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new position in shares of Champion Homes during the fourth quarter worth about $26,000. UMB Bank n.a. raised its stake 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 last quarter. Kestra Advisory Services LLC purchased a new stake in Champion Homes during the 4th quarter valued at approximately $26,000. Parallel Advisors LLC lifted its position in Champion Homes by 668.6% during the 1st quarter. Parallel Advisors LLC now owns 392 shares of the company’s stock worth $29,000 after acquiring an additional 341 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in Champion Homes during the 3rd quarter worth 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.