Champion Homes (NYSE:SKY) Posts Earnings Results

Champion Homes (NYSE:SKY) released its earnings results on Tuesday. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.14, Zacks reports. The business had revenue of $656.61 million for the quarter, compared to analyst estimates of $649.40 million. Champion Homes had a net margin of 8.41% and a return on equity of 14.36%. Champion Homes’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.04 earnings per share.

Champion Homes Trading Up 11.8%

NYSE:SKY traded up $8.96 during trading hours on Wednesday, hitting $84.99. The company had a trading volume of 397,650 shares, compared to its average volume of 765,214. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.60 and a quick ratio of 1.77. Champion Homes has a 52 week low of $59.44 and a 52 week high of $110.00. The company has a market capitalization of $4.75 billion, a PE ratio of 22.14 and a beta of 1.09. The stock has a 50-day moving average price of $87.41 and a 200 day moving average price of $78.14.

Insider Buying and Selling at Champion Homes

In related news, EVP Joseph A. Kimmell sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $88.35, for a total transaction of $159,030.00. Following the completion of the sale, the executive vice president owned 54,177 shares of the company’s stock, valued at $4,786,537.95. This trade represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Timothy A. Burkhardt sold 12,183 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $87.41, for a total transaction of $1,064,916.03. Following the completion of the transaction, the vice president owned 33,230 shares of the company’s stock, valued at approximately $2,904,634.30. The trade was a 26.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 15,795 shares of company stock worth $1,372,603. 1.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SKY. Advisory Services Network LLC bought a new stake in Champion Homes during the third quarter worth approximately $35,000. Headlands Technologies LLC bought a new stake in Champion Homes in the second quarter worth $92,000. Glenmede Investment Management LP purchased a new position in shares of Champion Homes during the 3rd quarter worth about $224,000. AQR Capital Management LLC bought a new position in shares of Champion Homes during the first quarter valued at approximately $294,000. Finally, Federated Hermes Inc. bought a new stake in shares of Champion Homes during the second quarter worth $219,000.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SKY. Barclays upped their price objective on Champion Homes from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Zelman & Associates upgraded Champion Homes from a “neutral” rating to an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Champion Homes in a research report on Wednesday, January 21st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $101.00 target price on shares of Champion Homes in a research note on Friday, January 9th. Finally, Zacks Research upgraded shares of Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

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.