Champion Homes (NYSE:SKY) Price Target Cut to $106.00 by Analysts at Barclays

Champion Homes (NYSE:SKY) had its price target cut by Barclays from $111.00 to $106.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also issued research reports about the stock. Zelman & Associates lowered shares of Champion Homes from an “outperform” rating to a “hold” rating in a report on Thursday, February 5th. Royal Bank Of Canada reissued an “outperform” rating and issued a $101.00 price target on shares of Champion Homes in a report on Friday, January 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Champion Homes in a report on Wednesday, January 21st. Finally, CJS Securities raised shares of Champion Homes to a “strong-buy” rating in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $103.50.

Champion Homes Price Performance

Shares of SKY stock opened at $78.70 on Wednesday. Champion Homes has a 12-month low of $59.44 and a 12-month high of $99.17. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 20.93 and a beta of 1.11. The company has a quick ratio of 1.89, a current ratio of 2.71 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average of $83.05 and a 200-day moving average of $81.92.

Champion Homes (NYSE:SKY) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.13. Champion Homes had a net margin of 8.10% and a return on equity of 13.85%. The company had revenue of $656.61 million during the quarter, compared to analyst estimates of $649.40 million. During the same quarter in the previous year, the business earned $1.04 EPS. The firm’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that Champion Homes will post 3.63 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Joseph A. Kimmell sold 2,880 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $82.25, for a total value of $236,880.00. Following the sale, the executive vice president directly owned 51,297 shares of the company’s stock, valued at approximately $4,219,178.25. The trade was a 5.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Champion Homes

Institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB lifted its position in Champion Homes by 39.5% in the 3rd quarter. Nordea Investment Management AB now owns 164,340 shares of the company’s stock valued at $12,229,000 after acquiring an additional 46,516 shares in the last quarter. Congress Asset Management Co. lifted its position in Champion Homes by 25.5% in the 3rd quarter. Congress Asset Management Co. now owns 923,465 shares of the company’s stock valued at $70,525,000 after acquiring an additional 187,611 shares in the last quarter. Bryn Mawr Trust Advisors LLC bought a new stake in Champion Homes in the 3rd quarter valued at $1,050,000. Cramer Rosenthal Mcglynn LLC lifted its position in Champion Homes by 7.5% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 663,870 shares of the company’s stock valued at $50,700,000 after acquiring an additional 46,555 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Champion Homes by 168.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 114,808 shares of the company’s stock valued at $8,768,000 after acquiring an additional 72,060 shares in the last quarter.

Champion Homes Company Profile

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.