Champion Homes (NYSE:SKY) Stock Picked Up by Analysts at Oppenheimer

Key Points

• Oppenheimer initiated coverage of Champion Homes with a “market perform” rating. Overall analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $104.
• Champion Homes reported quarterly EPS of $0.88, narrowly beating estimates, while revenue reached $710.23 million, up 1.3% year over year and above expectations.
• The stock opened at $86.59, giving the company a market capitalization of approximately $4.70 billion. Two directors recently sold shares, while institutional investors made several purchases or increased their positions.

Investment analysts at Oppenheimer initiated coverage on shares of Champion Homes (NYSE:SKY - Get Free Report) in a note issued to investors on Wednesday, Marketbeat.com reports. The firm set a "market perform" rating on the stock.

Other equities research analysts also recently issued reports about the stock. Zacks Research raised shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. Barclays lifted their price objective on shares of Champion Homes from $102.00 to $109.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Royal Bank Of Canada increased their target price on Champion Homes from $92.00 to $99.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Zelman & Associates upgraded Champion Homes from a "hold" rating to an "outperform" rating in a report on Thursday, August 6th. Finally, Citigroup initiated coverage on Champion Homes in a research report on Friday, June 5th. They set a "buy" rating and a $93.00 target price on the stock. One 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's stock. According to MarketBeat.com, Champion Homes has a consensus rating of "Moderate Buy" and a consensus price target of $104.00.

Champion Homes Stock Down 0.3%

Champion Homes stock opened at $86.59 on Wednesday. The firm has a market capitalization of $4.70 billion, a P/E ratio of 25.24 and a beta of 1.01. 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 has a twelve month low of $63.69 and a twelve month high of $99.17. The stock's fifty day simple moving average is $87.19 and its 200-day simple moving average is $80.86.

Champion Homes (NYSE:SKY - Get Free Report) last released its earnings results 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. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%.The firm had revenue of $710.23 million during the quarter, compared to analyst estimates of $701.98 million. During the same period last year, the business posted $1.19 earnings per share. Champion Homes's revenue was up 1.3% compared to the same quarter last year. As a group, equities analysts expect that Champion Homes will post 3.4 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Erin Helgren sold 1,100 shares of the company's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $95.00, for a total value of $104,500.00. Following the completion of the sale, the director directly owned 8,196 shares of the company's stock, valued at $778,620. This represents a 11.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael B. Berman sold 1,500 shares of the firm'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 transaction, the director owned 6,825 shares in the company, valued at $636,226.50. This represents a 18.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Champion Homes

Large investors have recently modified their holdings of the company. Parallel Advisors LLC grew its position in shares of 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 acquiring an additional 341 shares during the last quarter. Clearstead Trust LLC purchased a new stake in Champion Homes in the 2nd quarter valued at $44,000. Hantz Financial Services Inc. boosted its stake in Champion Homes by 258.3% during the 4th quarter. Hantz Financial Services Inc. now owns 559 shares of the company's stock worth $47,000 after purchasing an additional 403 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Champion Homes by 447.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 941 shares of the company's stock worth $80,000 after purchasing an additional 769 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Champion Homes during the 2nd quarter worth $85,000.

Champion Homes Company Profile

Champion Homes, Inc, formerly known as Skyline Champion Corporation, designs and manufactures factory-built housing for residential, commercial and specialized applications. Its portfolio includes manufactured homes, modular homes, park model homes, accessory dwelling units and other prefabricated structures, offered through a range of brands and configurations.

The company sells its products through independent and company-owned retailers, builders and developers, serving customers across the United States and parts of Canada.

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