Zacks Research Upgrades Champion Homes (NYSE:SKY) to Hold

Champion Homes (NYSE:SKY) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other analysts have also issued reports on the stock. Royal Bank Of Canada reduced their target price on shares of Champion Homes from $101.00 to $92.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Weiss Ratings lowered shares of Champion Homes from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 27th. UBS Group assumed coverage on shares of Champion Homes in a report on Friday, June 5th. They set a “buy” rating and a $93.00 price target on the stock. 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 for the company. Finally, Barclays boosted their target price on Champion Homes from $94.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Champion Homes Stock Up 1.4%

SKY stock opened at $83.41 on Monday. The firm has a market capitalization of $4.58 billion, a PE ratio of 22.79 and a beta of 1.00. 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 has a twelve month low of $60.13 and a twelve month high of $99.17. The stock’s 50 day moving average is $79.84 and its 200-day moving average is $81.54.

Champion Homes (NYSE:SKY) last announced 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%.Champion Homes’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 earnings per share. Sell-side analysts expect that Champion Homes will post 3.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Champion Homes news, EVP Joseph A. Kimmell sold 4,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $75.91, for a total transaction of $303,640.00. Following the completion of the transaction, the executive vice president owned 32,118 shares in the company, valued at $2,438,077.38. This trade represents a 11.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by company insiders.

Institutional Trading of Champion Homes

Hedge funds and other institutional investors have recently modified their holdings of the business. Wasatch Advisors LP lifted its stake in shares of Champion Homes by 221.3% during the 1st quarter. Wasatch Advisors LP now owns 2,736,767 shares of the company’s stock valued at $203,533,000 after buying an additional 1,885,046 shares in the last quarter. Marshall Wace LLP grew its stake in Champion Homes by 1,149.3% in the 3rd quarter. Marshall Wace LLP now owns 1,397,642 shares of the company’s stock valued at $106,738,000 after buying an additional 1,285,768 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Champion Homes during the 4th quarter valued at $90,282,000. Bank of Montreal Can raised its holdings in Champion Homes by 14,014.0% during the 4th quarter. Bank of Montreal Can now owns 826,232 shares of the company’s stock valued at $69,817,000 after acquiring an additional 820,378 shares during the period. Finally, Bamco Inc. NY bought a new stake in Champion Homes during the 4th quarter valued at $61,308,000.

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.