Champion Homes, Inc. $SKY Stock Holdings Lessened by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its stake in shares of Champion Homes, Inc. (NYSE:SKY) by 57.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 9,119 shares of the company’s stock after selling 12,214 shares during the quarter. State of Alaska Department of Revenue’s holdings in Champion Homes were worth $781,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Assetmark Inc. grew its stake in Champion Homes by 16.8% in the 1st quarter. Assetmark Inc. now owns 1,000 shares of the company’s stock valued at $74,000 after buying an additional 144 shares during the last quarter. Mirador Capital Partners LP raised its holdings in Champion Homes by 0.3% in the 2nd quarter. Mirador Capital Partners LP now owns 51,684 shares of the company’s stock valued at $4,554,000 after acquiring an additional 178 shares during the period. Bessemer Group Inc. lifted its position in Champion Homes by 0.4% during the first quarter. Bessemer Group Inc. now owns 47,664 shares of the company’s stock worth $3,544,000 after acquiring an additional 184 shares during the last quarter. Versant Capital Management Inc lifted its position in Champion Homes by 80.3% during the third quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock worth $46,000 after acquiring an additional 241 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 acquiring an additional 340 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SKY. Barclays boosted their price objective on Champion Homes from $102.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Zacks Research raised Champion Homes from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Oppenheimer started coverage on Champion Homes in a report on Wednesday, September 30th. They set a “market perform” rating for the company. Royal Bank Of Canada reduced their price target on Champion Homes from $99.00 to $94.00 and set an “outperform” rating for the company in a research note on Thursday, October 15th. Finally, UBS Group upped their price objective on Champion Homes from $93.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.75.

Champion Homes Price Performance

NYSE:SKY opened at $79.71 on Friday. Champion Homes, Inc. has a 52 week low of $63.87 and a 52 week high of $99.17. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 2.74. The firm’s 50-day simple moving average is $85.29 and its 200 day simple moving average is $81.54. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 23.24 and a beta of 1.02.

Champion Homes (NYSE:SKY) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The firm had revenue of $710.23 million during the quarter, compared to the consensus estimate of $701.98 million. Champion Homes had a net margin of 7.16% and a return on equity of 12.52%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS. As a group, sell-side analysts predict that Champion Homes, Inc. will post 3.40 earnings per share for the current year.

Insider Activity at Champion Homes

In other news, Director Michael Berman sold 1,500 shares of the firm’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 transaction of $139,830.00. Following the transaction, the director directly owned 6,825 shares of the company’s stock, valued at approximately $636,226.50. This trade represents a 18.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Erin Helgren sold 1,100 shares of Champion Homes stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $95.00, for a total transaction of $104,500.00. Following the completion of the sale, the director owned 8,196 shares of the company’s stock, valued at approximately $778,620. The trade was a 11.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by company insiders.

Champion Homes Profile

Champion Homes, Inc (NYSE:SKY) is a manufacturer of factory-built housing in the United States and Canada. The company designs and produces manufactured homes, modular homes and other residential structures in controlled factory environments, offering housing solutions for individual homeowners, developers, retailers and communities.

Its products include single-section and multi-section manufactured homes, modular homes, accessory dwelling units and park model recreational vehicles. Champion Homes markets its products through independent retailers, company-owned retail operations and other distribution channels, and also provides related construction and installation services in selected markets.

The company traces its heritage to the Skyline and Champion businesses, which combined in 2018 to form Skyline Champion Corporation.