Champion Homes, Inc. (NYSE:SKY) Given Average Recommendation of "Hold" by Analysts

Key Points

• Champion Homes, Inc. (NYSE:SKY) has an average analyst recommendation of "Hold", with five firms rating it as such and one giving it a buy rating.
• The company reported a strong quarterly performance with earnings of $1.19 per share, surpassing expectations and indicating an 11.7% year-over-year revenue growth.
• Recently, various hedge funds have increased their stakes in Champion Homes, showcasing growing confidence in the company, with one fund increasing its stake by over 10,000%.

Champion Homes, Inc. (NYSE:SKY - Get Free Report) has received a consensus recommendation of "Hold" from the six ratings firms that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $86.00.

A number of research firms have recently weighed in on SKY. Royal Bank Of Canada lifted their price objective 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. Zelman & Associates upgraded Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. Weiss Ratings restated a "hold (c)" rating on shares of Champion Homes in a report on Saturday, September 27th. Finally, Barclays raised their price objective 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.

Champion Homes Trading Down 1.6%

NYSE SKY traded down $1.26 during mid-day trading on Friday, reaching $76.35. 612,234 shares of the stock were exchanged, compared to its average volume of 699,803. Champion Homes has a one year low of $59.44 and a one year high of $116.49. The stock has a 50 day simple moving average of $72.90 and a 200-day simple moving average of $75.68. The stock has a market cap of $4.32 billion, a P/E ratio of 20.30 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.59.

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

Insider Transactions at Champion Homes

In other news, EVP Joseph A. Kimmell sold 1,000 shares of the firm's stock in a transaction that occurred on 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. 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 can be accessed through this hyperlink. Company insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On Champion Homes

Several hedge funds have recently added to or reduced their stakes in SKY. Caitong International Asset Management Co. Ltd grew its stake in Champion Homes by 10,171.4% in the second quarter. Caitong International Asset Management Co. Ltd now owns 719 shares of the company's stock valued at $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 second quarter valued at $48,000. Blue Trust Inc. boosted its holdings in shares of Champion Homes by 49.8% in the second quarter. Blue Trust Inc. now owns 900 shares of the company's stock worth $56,000 after acquiring an additional 299 shares during the period. AlphaQuest LLC raised its position in Champion Homes by 1,231.3% during the first quarter. AlphaQuest LLC now owns 852 shares of the company's stock valued at $81,000 after purchasing an additional 788 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Champion Homes during the 2nd quarter valued at about $92,000.

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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