Champion Homes, Inc. (NYSE:SKY) Short Interest Down 19.4% in March

Champion Homes, Inc. (NYSE:SKY) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 2,960,458 shares, a drop of 19.4% from the March 15th total of 3,673,216 shares. Based on an average daily volume of 561,339 shares, the short-interest ratio is currently 5.3 days. Currently, 5.4% of the company’s shares are short sold.

Champion Homes Stock Up 7.8%

SKY stock traded up $5.86 during midday trading on Friday, hitting $81.23. The company’s stock had a trading volume of 574,840 shares, compared to its average volume of 511,188. The company has a quick ratio of 1.89, a current ratio of 2.71 and a debt-to-equity ratio of 0.01. Champion Homes has a 52-week low of $59.44 and a 52-week high of $99.17. The firm has a market capitalization of $4.49 billion, a P/E ratio of 21.60 and a beta of 1.11. The firm has a 50-day simple moving average of $82.73 and a 200-day simple moving average of $82.07.

Champion Homes (NYSE:SKY) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.96 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 analysts’ expectations of $649.40 million. During the same quarter last year, the company posted $1.04 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts forecast that Champion Homes will post 3.63 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Champion Homes in a 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 report on Friday, January 9th. Barclays dropped their target price on shares of Champion Homes from $111.00 to $106.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Finally, Zelman & Associates downgraded shares of Champion Homes from an “outperform” rating to a “hold” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.50.

Insiders Place Their Bets

In related news, EVP Joseph A. Kimmell sold 2,880 shares of Champion Homes stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 51,297 shares in the company, valued at approximately $4,219,178.25. This trade represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Champion Homes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC purchased a new position in Champion Homes in the 4th quarter valued at approximately $26,000. UMB Bank n.a. boosted its position in Champion Homes by 78.9% in the 4th quarter. UMB Bank n.a. now owns 313 shares of the company’s stock valued at $26,000 after buying an additional 138 shares during the period. Kestra Advisory Services LLC purchased a new position in Champion Homes in the 4th quarter valued at approximately $26,000. Parkside Financial Bank & Trust boosted its position in Champion Homes by 257.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 386 shares of the company’s stock valued at $29,000 after buying an additional 278 shares during the period. Finally, Salomon & Ludwin LLC purchased a new position in Champion Homes in the 3rd quarter valued at approximately $30,000.

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.