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

Shares of Champion Homes, Inc. (NYSE:SKY - Get Free Report) have been given a consensus recommendation of "Hold" by the six analysts that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $80.60.

SKY has been the topic of several research reports. Zelman & Associates upgraded Champion Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. Barclays reduced their price target on Champion Homes from $97.00 to $72.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 28th. Finally, Royal Bank Of Canada reduced their price target on Champion Homes from $96.00 to $82.00 and set a "sector perform" rating on the stock in a report on Wednesday, May 28th.

Hedge Funds Weigh In On Champion Homes

Institutional investors have recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd acquired a new position in Champion Homes in the fourth quarter valued at approximately $36,000. Byrne Asset Management LLC bought a new position in shares of Champion Homes in the 2nd quarter worth $48,000. Sterling Capital Management LLC grew its position in Champion Homes by 645.5% in 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 period. AlphaQuest LLC increased its stake in 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 purchasing an additional 788 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Champion Homes by 306.0% during the 1st quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock valued at $96,000 after purchasing an additional 765 shares in the last quarter.

Champion Homes Price Performance

Champion Homes stock traded down $1.32 during midday trading on Friday, reaching $66.52. The company's stock had a trading volume of 533,328 shares, compared to its average volume of 615,853. Champion Homes has a 52 week low of $59.44 and a 52 week high of $116.49. The company has a current ratio of 2.41, a quick ratio of 1.61 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $72.72 and a 200-day moving average price of $85.64. The stock has a market cap of $3.81 billion, a PE ratio of 19.45 and a beta of 1.16.

Champion Homes (NYSE:SKY - Get Free Report) last released its earnings results on Tuesday, May 27th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.10). The business had revenue of $593.87 million during the quarter, compared to the consensus estimate of $595.42 million. Champion Homes had a net margin of 7.99% and a return on equity of 13.61%. The business's revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 EPS. On average, sell-side analysts predict that Champion Homes will post 3.63 EPS for the current year.

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

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.