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 transaction of $65,240.00. Following the completion of the sale, the executive vice president owned 43,568 shares of the company's stock, valued at approximately $2,842,376.32. The trade was a 2.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Champion Homes Trading Down 0.3%

NYSE:SKY traded down $0.19 on Friday, reaching $73.31. 974,496 shares of the stock traded hands, compared to its average volume of 718,284. The company's 50 day moving average is $65.26 and its 200-day moving average is $81.40. Champion Homes, Inc. has a 1-year low of $59.44 and a 1-year high of $116.49. The company has a current ratio of 2.39, a quick ratio of 1.59 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 19.50 and a beta of 1.13.

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

Champion Homes declared that its Board of Directors has approved a share repurchase plan on Friday, May 30th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada upped their target price on shares of Champion Homes from $82.00 to $85.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Barclays increased their price objective on shares of Champion Homes from $72.00 to $74.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Finally, Zelman & Associates raised shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 5th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $86.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd grew its holdings in Champion Homes by 10,171.4% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 719 shares of the company's stock valued at $45,000 after buying an additional 712 shares during the last quarter. Byrne Asset Management LLC acquired a new position in shares of Champion Homes during the second quarter valued at about $48,000. Blue Trust Inc. grew its stake in Champion Homes by 49.8% during the second quarter. Blue Trust Inc. now owns 900 shares of the company's stock worth $56,000 after buying an additional 299 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Champion Homes by 645.5% during the fourth 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 holdings in shares of Champion Homes by 1,231.3% during the first quarter. AlphaQuest LLC now owns 852 shares of the company's stock worth $81,000 after acquiring an additional 788 shares during the period.

About Champion Homes

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.