Champion Homes, Inc. (NYSE:SKY) Short Interest Update

Champion Homes, Inc. (NYSE:SKY) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 2,735,465 shares, a decrease of 40.1% from the July 15th total of 4,566,369 shares. Based on an average daily trading volume, of 571,530 shares, the short-interest ratio is presently 4.8 days. Currently, 5.1% of the shares of the company are sold short.

Analyst Ratings Changes

A number of research firms have recently issued reports on SKY. Zelman & Associates raised Champion Homes from a “hold” rating to an “outperform” rating in a report on Thursday, August 6th. Barclays increased their price target on Champion Homes from $102.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Citigroup initiated coverage on shares of Champion Homes in a research note on Friday, June 5th. They issued a “buy” rating and a $93.00 price objective on the stock. Zacks Research upgraded shares of Champion Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $104.00.

Champion Homes Stock Performance

NYSE SKY traded down $2.20 on Tuesday, hitting $91.01. 520,858 shares of the company’s stock were exchanged, compared to its average volume of 664,335. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 26.70 and a beta of 1.01. The firm’s 50-day moving average price is $84.44 and its two-hundred day moving average price is $81.07. Champion Homes has a fifty-two week low of $63.69 and a fifty-two week high of $99.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.74 and a quick ratio of 1.97.

Champion Homes (NYSE:SKY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.87 by $0.01. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%.The business had revenue of $710.23 million during the quarter, compared to analysts’ expectations of $701.98 million. During the same period last year, the firm earned $1.19 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, research analysts expect that Champion Homes will post 3.4 EPS for the current year.

Insider Transactions at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $75.91, for a total transaction of $303,640.00. Following the completion of the sale, the executive vice president directly owned 32,118 shares of the company’s stock, valued at $2,438,077.38. This represents a 11.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael B. 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 value of $139,830.00. Following the sale, the director directly owned 6,825 shares of the company’s stock, valued at approximately $636,226.50. This represents a 18.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 14,522 shares of company stock worth $1,147,665. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Champion Homes

Several institutional investors have recently made changes to their positions in SKY. BlackRock Inc. purchased a new position in shares of Champion Homes in the 2nd quarter valued at about $794,354,000. Wellington Management Group LLP boosted its holdings in Champion Homes by 7.5% during the third quarter. Wellington Management Group LLP now owns 4,800,562 shares of the company’s stock worth $366,619,000 after buying an additional 333,666 shares in the last quarter. Wasatch Advisors LP boosted its holdings in 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 buying an additional 10,749 shares in the last quarter. State Street Corp grew its position in Champion Homes by 4.0% during the second quarter. State Street Corp now owns 2,579,091 shares of the company’s stock worth $161,477,000 after buying an additional 98,659 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Champion Homes by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,736,164 shares of the company’s stock worth $129,111,000 after buying an additional 80,531 shares during the period.

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.