Champion Homes (NYSE:SKY) Shares Gap Up Following Earnings Beat

Champion Homes, Inc. (NYSE:SKY) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $76.03, but opened at $81.27. Champion Homes shares last traded at $80.13, with a volume of 97,794 shares trading hands.

The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.83 by $0.13. The business had revenue of $656.61 million for the quarter, compared to analysts’ expectations 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 was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.04 earnings per share.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SKY shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Champion Homes in a research report on Wednesday, January 21st. Zelman & Associates raised Champion Homes from a “neutral” rating to an “outperform” rating in a research report on Friday, November 7th. CJS Securities raised Champion Homes to a “strong-buy” rating in a research report on Thursday, December 11th. Barclays lifted their price objective on shares of Champion Homes from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $101.00 price objective on shares of Champion Homes in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $106.00.

Insider Buying and Selling at Champion Homes

In related news, VP Timothy A. Burkhardt sold 12,183 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $87.41, for a total value of $1,064,916.03. Following the transaction, the vice president directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph A. Kimmell sold 1,800 shares of Champion Homes stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $88.35, for a total value of $159,030.00. Following the completion of the transaction, the executive vice president owned 54,177 shares of the company’s stock, valued at approximately $4,786,537.95. This trade represents a 3.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 15,795 shares of company stock valued at $1,372,603. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust boosted its stake in Champion Homes by 257.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 386 shares of the company’s stock valued at $29,000 after purchasing an additional 278 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in shares of Champion Homes during the 3rd quarter worth $30,000. Advisory Services Network LLC bought a new stake in Champion Homes during the 3rd quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Champion Homes by 10,171.4% in the second quarter. Caitong International Asset Management Co. Ltd now owns 719 shares of the company’s stock worth $45,000 after purchasing an additional 712 shares during the period. Finally, AdvisorNet Financial Inc bought a new stake in shares of Champion Homes during the 3rd quarter valued at $50,000.

Champion Homes Price Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.77 and a current ratio of 2.60. The firm’s fifty day moving average is $87.41 and its two-hundred day moving average is $78.14. The company has a market cap of $4.48 billion, a P/E ratio of 20.60 and a beta of 1.09.

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.