Champion Homes (NYSE:SKY) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Champion Homes (NYSE:SKY) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks.com reports.

A number of other brokerages have also recently issued reports on SKY. Weiss Ratings cut shares of Champion Homes from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 27th. UBS Group started 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 on the stock. Citigroup started coverage on shares of Champion Homes in a research note on Friday, June 5th. They set a “buy” rating and a $93.00 price objective for the company. Royal Bank Of Canada cut their price objective on Champion Homes from $101.00 to $92.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Finally, Barclays upped their target price on Champion Homes from $94.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.00.

Champion Homes Trading Up 1.4%

Shares of SKY stock opened at $83.41 on Monday. Champion Homes has a fifty-two week low of $60.13 and a fifty-two week high of $99.17. The stock has a market cap of $4.58 billion, a P/E ratio of 22.79 and a beta of 1.00. The business has a fifty day simple moving average of $79.84 and a 200-day simple moving average of $81.54. 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 released its quarterly earnings results on Tuesday, May 26th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. The business had revenue of $621.28 million during the quarter, compared to the consensus estimate of $607.39 million. Champion Homes had a return on equity of 13.80% and a net margin of 7.77%.The business’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 EPS. On average, analysts forecast that Champion Homes will post 3.4 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Joseph A. Kimmell sold 7,922 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $75.70, for a total transaction of $599,695.40. Following the sale, the executive vice president owned 36,118 shares in the company, valued at approximately $2,734,132.60. This trade represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SKY. Wasatch Advisors LP boosted its holdings in shares of Champion Homes by 0.4% during the second quarter. Wasatch Advisors LP now owns 2,747,516 shares of the company’s stock worth $242,111,000 after purchasing an additional 10,749 shares during the last quarter. MRA Advisory Group acquired a new position in Champion Homes in the second quarter valued at $576,000. Byrne Asset Management LLC increased its stake in Champion Homes by 36.1% in the second quarter. Byrne Asset Management LLC now owns 3,796 shares of the company’s stock valued at $335,000 after purchasing an additional 1,006 shares during the last quarter. Mirador Capital Partners LP increased its stake in Champion Homes by 0.3% in the second quarter. Mirador Capital Partners LP now owns 51,684 shares of the company’s stock valued at $4,554,000 after purchasing an additional 178 shares during the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in Champion Homes by 7.1% during the second quarter. Central Pacific Bank Trust Division now owns 5,113 shares of the company’s stock worth $451,000 after buying an additional 340 shares during the period.

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.