Champion Homes, Inc. (NYSE:SKY) EVP Joseph A. Kimmell Sells 1,000 Shares

Key Points

• Champion Homes' EVP, Joseph A. Kimmell, sold 1,000 shares at an average price of $65.24, resulting in a total transaction value of $65,240 and a 2.24% decrease in his ownership stake.
• The stock of Champion Homes (NYSE:SKY) is currently trading at $70.10, reflecting a rise of 6.3% in a recent trading session.
• Champion Homes reported earnings of $1.19 per share, significantly surpassing the consensus estimate of $0.88, and saw an 11.7% year-over-year increase in revenue.

Champion Homes, Inc. (NYSE:SKY - Get Free Report) EVP Joseph A. Kimmell sold 1,000 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $65.24, for a total value of $65,240.00. Following the completion of the sale, the executive vice president directly owned 43,568 shares in the company, valued at $2,842,376.32. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Champion Homes Stock Up 6.3%

Shares of NYSE:SKY traded up $4.16 during mid-day trading on Tuesday, hitting $70.10. 551,715 shares of the company traded hands, compared to its average volume of 639,692. The stock has a market cap of $3.96 billion, a P/E ratio of 18.64 and a beta of 1.13. The company has a current ratio of 2.39, a quick ratio of 1.59 and a debt-to-equity ratio of 0.02. Champion Homes, Inc. has a 12-month low of $59.44 and a 12-month high of $116.49. The stock has a 50-day moving average price of $64.64 and a two-hundred day moving average price of $81.90.

Champion Homes (NYSE:SKY - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.31. The firm had revenue of $701.32 million for the quarter, compared to analyst estimates of $642.18 million. Champion Homes had a return on equity of 14.35% and a net margin of 8.50%. The business's revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. On average, equities research analysts forecast that Champion Homes, Inc. will post 3.63 earnings per share for the current year.

Champion Homes declared that its board has approved a stock buyback program on Friday, May 30th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On Champion Homes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Champion Homes by 10,171.4% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 719 shares of the company's stock worth $45,000 after purchasing an additional 712 shares in the last quarter. Byrne Asset Management LLC bought a new position in Champion Homes during the 2nd quarter valued at approximately $48,000. Blue Trust Inc. raised its position in Champion Homes by 49.8% during the 2nd quarter. Blue Trust Inc. now owns 900 shares of the company's stock valued at $56,000 after purchasing an additional 299 shares during the last quarter. Sterling Capital Management LLC raised its position in Champion Homes by 645.5% during the 4th quarter. Sterling Capital Management LLC now owns 917 shares of the company's stock valued at $81,000 after purchasing an additional 794 shares during the last quarter. Finally, AlphaQuest LLC raised its position in shares of Champion Homes by 1,231.3% in the 1st quarter. AlphaQuest LLC now owns 852 shares of the company's stock worth $81,000 after acquiring an additional 788 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Zelman & Associates upgraded Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. Royal Bank Of Canada lifted their target price on Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Finally, Barclays lifted their target price on Champion Homes from $72.00 to $74.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $86.00.

Champion Homes Company Profile

Skyline Champion Corporation produces and sells factory-built housing in North America. The company offers manufactured and modular homes, park models RVs, accessory dwelling units, and modular buildings for the multi-family and hospitality sectors. It builds homes under the Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Atlantic Homes, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes brands in the United States; and Moduline and SRI Homes brand names in western Canada.

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