Joseph A. Kimmell Sells 3,000 Shares of Champion Homes, Inc. (NYSE:SKY) Stock

Key Points

• Evangelist Joseph A. Kimmell sold 3,000 shares of Champion Homes, Inc. at an average price of $66.03, reducing his stake by 6.31% to a total of 44,568 shares.
• Champion Homes recently reported quarterly earnings of $1.19 EPS, beating estimates by $0.31, with revenues rising 11.7% year-over-year to $701.32 million.
• The company has authorized a $50 million stock repurchase plan, indicating management's belief that its shares are undervalued.

Champion Homes, Inc. (NYSE:SKY - Get Free Report) EVP Joseph A. Kimmell sold 3,000 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $66.03, for a total transaction of $198,090.00. Following the completion of the sale, the executive vice president owned 44,568 shares in the company, valued at $2,942,825.04. This represents a 6.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Champion Homes Trading Down 0.3%

Champion Homes stock traded down $0.19 during mid-day trading on Friday, hitting $73.31. 974,496 shares of the company's stock were exchanged, compared to its average volume of 718,284. The company's 50 day simple moving average is $65.26 and its 200-day simple moving average is $81.40. The firm has a market capitalization of $4.14 billion, a P/E ratio of 19.50 and a beta of 1.13. The company has a quick ratio of 1.59, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. Champion Homes, Inc. has a fifty-two week low of $59.44 and a fifty-two week high of $116.49.

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

Champion Homes announced that its board has approved a stock buyback plan on Friday, May 30th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Public Sector Pension Investment Board raised its position in shares of Champion Homes by 7.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 179,660 shares of the company's stock valued at $11,249,000 after buying an additional 12,534 shares in the last quarter. Headlands Technologies LLC bought a new stake in Champion Homes during the second quarter worth about $92,000. Tower Research Capital LLC TRC raised its holdings in Champion Homes by 479.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,419 shares of the company's stock worth $465,000 after buying an additional 6,139 shares during the last quarter. State of Tennessee Department of Treasury raised its holdings in Champion Homes by 4.2% in the second quarter. State of Tennessee Department of Treasury now owns 20,399 shares of the company's stock worth $1,277,000 after buying an additional 827 shares during the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of Champion Homes by 13.4% during the 2nd quarter. Captrust Financial Advisors now owns 8,422 shares of the company's stock valued at $527,000 after buying an additional 998 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.