Champion Homes, Inc. $SKY Stock Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its position in shares of Champion Homes, Inc. (NYSE:SKY) by 75.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,151 shares of the company’s stock after selling 18,658 shares during the period. Oppenheimer & Co. Inc.’s holdings in Champion Homes were worth $527,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in Champion Homes by 668.6% during the first quarter. Parallel Advisors LLC now owns 392 shares of the company’s stock worth $29,000 after purchasing an additional 341 shares during the last quarter. Clearstead Trust LLC bought a new position in shares of Champion Homes during the 2nd quarter valued at about $44,000. Versant Capital Management Inc increased its position in shares of Champion Homes by 80.3% during the 3rd quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $46,000 after purchasing an additional 241 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Champion Homes during the 2nd quarter valued at about $85,000. Finally, Assetmark Inc. raised its holdings in shares of Champion Homes by 16.8% during 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 in the last quarter.

Key Champion Homes News

Here are the key news stories impacting Champion Homes this week:

• Positive Sentiment: Quarterly EPS of $0.95 topped estimates, while revenue of $727 million exceeded expectations and grew 6.2% year over year. Zacks earnings report
• Positive Sentiment: Manufacturing orders rose 17% year over year, and captive retail accounted for 39% of second-quarter sales, pointing to activity across the business. The Motley Fool article
• Positive Sentiment: RBC raised its price target to $99 from $94 and maintained an Outperform rating; Barclays lifted its target to $110 from $109 and kept an Overweight rating. These revisions signal continued analyst optimism. RBC price target update
• Negative Sentiment: Despite the sales growth and earnings beat, EPS was down from $1.01 a year earlier, and coverage of the earnings call highlighted cost pressures squeezing margins. That may temper the positive results and analyst outlook. 247WallSt earnings analysis

Insiders Place Their Bets

In other Champion Homes news, Director Michael Berman sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $93.22, for a total value of $139,830.00. Following the completion of the sale, the director owned 6,825 shares in the company, valued at approximately $636,226.50. The trade was a 18.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.

Champion Homes Stock Down 3.2%

Shares of NYSE:SKY opened at $93.06 on Friday. The stock’s 50-day moving average price is $83.97 and its 200-day moving average price is $82.45. Champion Homes, Inc. has a 12-month low of $63.87 and a 12-month high of $99.17. The stock has a market capitalization of $5.05 billion, a P/E ratio of 27.61 and a beta of 1.03. The company has a current ratio of 2.75, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SKY shares. Royal Bank Of Canada boosted their target price on Champion Homes from $94.00 to $99.00 and gave the stock an “outperform” rating in a research report on Thursday. Oppenheimer began coverage on shares of Champion Homes in a research report on Wednesday, September 30th. They set a “market perform” rating on the stock. Weiss Ratings raised shares of Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Barclays boosted their price objective on shares of Champion Homes from $109.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, UBS Group upped their price objective on shares of Champion Homes from $93.00 to $115.00 and gave the company a “buy” rating in a research note 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.25.

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.