Champion Homes (NYSE:SKY) Stock Gets Price Target Increase from Barclays

Champion Homes (NYSE:SKY) had its price objective upped by stock analysts at Barclays from $109.00 to $110.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 20.62% from the stock’s current price.

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

Champion Homes Price Performance

NYSE:SKY traded down $1.97 on Thursday, reaching $91.19. The stock had a trading volume of 556,584 shares, compared to its average volume of 627,196. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $4.95 billion, a P/E ratio of 27.06 and a beta of 1.03. Champion Homes has a 1-year low of $63.87 and a 1-year high of $99.17. The stock has a fifty day moving average price of $83.99 and a 200-day moving average price of $82.43.

Champion Homes (NYSE:SKY) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.01. Champion Homes had a net margin of 7.16% and a return on equity of 12.52%. The company had revenue of $727.03 million during the quarter, compared to analyst estimates of $719.71 million. During the same quarter last year, the business posted $1.03 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. Research analysts forecast that Champion Homes will post 3.34 EPS for the current year.

Insider Buying and Selling at Champion Homes

In other news, Director Michael Berman sold 1,500 shares of the company’s 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 approximately $636,226.50. This represents a 18.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Champion Homes

Several hedge funds have recently modified their holdings of SKY. Maryland State Retirement & Pension System lifted its holdings in Champion Homes by 49.9% during the 3rd quarter. Maryland State Retirement & Pension System now owns 12,053 shares of the company’s stock worth $1,033,000 after buying an additional 4,010 shares in the last quarter. Jacobi Capital Management LLC bought a new position in Champion Homes in the 3rd quarter valued at $62,000. Illinois Municipal Retirement Fund boosted its position in Champion Homes by 6.3% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 30,511 shares of the company’s stock valued at $2,615,000 after buying an additional 1,801 shares during the last quarter. Bryn Mawr Trust Advisors LLC increased its stake in shares of Champion Homes by 3.2% in the 3rd quarter. Bryn Mawr Trust Advisors LLC now owns 15,553 shares of the company’s stock valued at $1,333,000 after buying an additional 481 shares during the period. Finally, Garde Capital Inc. acquired a new stake in shares of Champion Homes in the 3rd quarter valued at $206,000.

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.