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

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 stock in a transaction on Friday, August 8th. The stock was sold at an average price of $66.03, for a total value of $198,090.00. Following the completion of the sale, the executive vice president directly owned 44,568 shares in the company, valued at $2,942,825.04. This represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Champion Homes Stock Performance

SKY stock traded up $4.16 during trading on Tuesday, reaching $70.10. 551,715 shares of the company's stock were exchanged, compared to its average volume of 639,692. 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 1-year low of $59.44 and a 1-year high of $116.49. The company's fifty day moving average price is $64.64 and its 200-day moving average price is $81.90. The firm has a market cap of $3.96 billion, a PE ratio of 18.64 and a beta of 1.13.

Champion Homes (NYSE:SKY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.31. The business had revenue of $701.32 million during 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 company's revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share. On average, research analysts expect that Champion Homes, Inc. will post 3.63 EPS for the current fiscal year.

Champion Homes declared that its board has authorized a stock repurchase plan on Friday, May 30th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

SKY has been the subject of a number of analyst reports. Barclays boosted their price target on Champion Homes from $72.00 to $74.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Royal Bank Of Canada boosted their price target on Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Finally, Zelman & Associates upgraded Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Champion Homes currently has an average rating of "Hold" and a consensus price target of $86.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SKY. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 acquiring an additional 712 shares during the last quarter. Byrne Asset Management LLC acquired a new position in shares of Champion Homes during the 2nd quarter valued at about $48,000. Blue Trust Inc. increased its holdings in shares of 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 acquiring an additional 299 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of 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 acquiring an additional 794 shares during the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of Champion Homes by 1,231.3% during the 1st quarter. AlphaQuest LLC now owns 852 shares of the company's stock valued at $81,000 after acquiring an additional 788 shares during the last quarter.

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.

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