Barclays Issues Positive Forecast for Champion Homes (NYSE:SKY) Stock Price

Champion Homes (NYSE:SKY) had its price objective upped by Barclays from $109.00 to $110.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 18.08% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Zacks Research raised Champion Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Oppenheimer initiated coverage on Champion Homes in a report on Wednesday, September 30th. They set a “market perform” rating on the stock. Royal Bank Of Canada dropped their price target on Champion Homes from $99.00 to $94.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. UBS Group raised their price target on Champion Homes from $93.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Zelman & Associates upgraded shares of Champion Homes from a “hold” rating to an “outperform” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.00.

Champion Homes Stock Performance

Shares of SKY traded down $3.01 during midday trading on Thursday, reaching $93.16. The stock had a trading volume of 357,592 shares, compared to its average volume of 689,149. The firm has a market cap of $5.06 billion, a PE ratio of 27.58 and a beta of 1.03. The firm has a 50 day simple moving average of $83.93 and a 200-day simple moving average of $82.47. Champion Homes has a one year low of $63.87 and a one year high of $99.17. The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01.

Champion Homes (NYSE:SKY) last issued its earnings results on Tuesday, November 3rd. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.01. Champion Homes had a net margin of 6.84% and a return on equity of 12.17%. The business had revenue of $727.03 million during the quarter, compared to the consensus estimate of $719.71 million. During the same period last year, the business posted $1.03 EPS. Champion Homes’s revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Champion Homes will post 3.40 EPS for the current year.

Insider Transactions at Champion Homes

In related news, Director Michael Berman sold 1,500 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $93.22, for a total value of $139,830.00. Following the transaction, the director directly owned 6,825 shares in the company, valued at approximately $636,226.50. This represents a 18.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Erin Helgren sold 1,100 shares of Champion Homes stock in a transaction dated Friday, August 7th. The stock was 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 $778,620. This trade represents a 11.83% decrease in their position. The SEC filing for this sale provides additional information. 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. Illinois Municipal Retirement Fund increased its stake in Champion Homes by 6.3% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 30,511 shares of the company’s stock worth $2,615,000 after acquiring an additional 1,801 shares during the period. Bryn Mawr Trust Advisors LLC increased its position in shares of Champion Homes by 3.2% in the third quarter. Bryn Mawr Trust Advisors LLC now owns 15,553 shares of the company’s stock worth $1,333,000 after purchasing an additional 481 shares during the period. Garde Capital Inc. acquired a new position in Champion Homes in the third quarter valued at about $206,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Champion Homes by 154.3% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 8,900 shares of the company’s stock valued at $763,000 after purchasing an additional 5,400 shares in the last quarter. Finally, North Star Investment Management Corp. raised its stake in Champion Homes by 26.3% in the third quarter. North Star Investment Management Corp. now owns 12,000 shares of the company’s stock valued at $1,028,000 after purchasing an additional 2,500 shares in the last quarter.

About Champion Homes

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.