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

Key Points

• Barclays raised its price target on Champion Homes to $110 from $109 and maintained an “overweight” rating, implying about 18% upside from the share price cited in the report.
• Analyst sentiment is broadly positive: MarketBeat reported a consensus “Moderate Buy” rating and an average price target of $103, with ratings ranging from Strong Buy to Hold.
• Champion Homes slightly beat quarterly earnings and revenue estimates, reporting EPS of $0.95 and revenue of $727.03 million; revenue increased 6.2% year over year.

Champion Homes (NYSE:SKY - Get Free Report) had its price objective increased by stock analysts at Barclays from $109.00 to $110.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's target price suggests a potential upside of 18.08% from the stock's current price.

SKY has been the topic of several other reports. UBS Group lifted their target price on shares of Champion Homes from $93.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Royal Bank Of Canada lowered their price objective 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. Zelman & Associates upgraded Champion Homes from a "hold" rating to an "outperform" rating in a research report on Thursday, August 6th. Weiss Ratings raised shares of Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 7th. Finally, Oppenheimer started coverage on shares of Champion Homes in a report on Wednesday, September 30th. They set a "market perform" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $103.00.

Champion Homes Stock Performance

NYSE SKY traded down $3.01 during midday trading on Thursday, hitting $93.16. The company had a trading volume of 357,592 shares, compared to its average volume of 689,149. The firm has a fifty day simple moving average of $83.93 and a two-hundred day simple moving average of $82.47. Champion Homes has a fifty-two week low of $63.87 and a fifty-two week high of $99.17. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 0.01. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 27.58 and a beta of 1.03.

Champion Homes (NYSE:SKY - Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported $0.95 earnings per share for the quarter, topping 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 business had revenue of $727.03 million for the quarter, compared to the consensus estimate of $719.71 million. During the same period last year, the business earned $1.03 earnings per share. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts forecast that Champion Homes will post 3.40 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Erin Helgren sold 1,100 shares of the company's 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 transaction, the director directly owned 8,196 shares in the company, valued at approximately $778,620. This represents a 11.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Berman sold 1,500 shares of the 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 sale, the director directly owned 6,825 shares in the company, valued at $636,226.50. This trade represents a 18.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Champion Homes

Institutional investors and hedge funds have recently made changes to their positions in the company. Illinois Municipal Retirement Fund grew its stake in shares of 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 in the last quarter. Bryn Mawr Trust Advisors LLC boosted its position in Champion Homes by 3.2% during the third quarter. Bryn Mawr Trust Advisors LLC now owns 15,553 shares of the company's stock valued at $1,333,000 after purchasing an additional 481 shares during the last quarter. Garde Capital Inc. acquired a new position in Champion Homes during the third quarter valued at approximately $206,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew 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. grew 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.

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