Champion Homes (NYSE:SKY) Posts Earnings Results, Misses Expectations By $0.01 EPS

Key Points

• Champion Homes reported quarterly EPS of $0.88, missing analysts’ $0.89 consensus by $0.01, while revenue of $710.23 million exceeded estimates of $701.98 million.
• Shares rose 2.1% to $82.55 following the results. The stock has a consensus “Moderate Buy” rating and an average analyst price target of $95.00.
• Executive Vice President Joseph A. Kimmell sold 7,922 shares for approximately $599,700; company insiders currently own 0.60% of outstanding shares.

Champion Homes (NYSE:SKY - Get Free Report) announced its earnings results on Tuesday. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01), FiscalAI reports. Champion Homes had a return on equity of 13.80% and a net margin of 7.77%.The business had revenue of $710.23 million for the quarter, compared to analyst estimates of $701.98 million.

Champion Homes Trading Up 2.1%

Champion Homes stock traded up $1.72 during trading on Tuesday, reaching $82.55. 1,008,229 shares of the company were exchanged, compared to its average volume of 717,246. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.48 and a quick ratio of 1.69. The stock's 50 day simple moving average is $80.64 and its two-hundred day simple moving average is $81.16. The company has a market capitalization of $4.53 billion, a P/E ratio of 22.55 and a beta of 1.01. Champion Homes has a 52-week low of $63.69 and a 52-week high of $99.17.

Insider Activity at Champion Homes

In other news, EVP Joseph A. Kimmell sold 7,922 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $75.70, for a total transaction of $599,695.40. Following the transaction, the executive vice president owned 36,118 shares of the company's stock, valued at approximately $2,734,132.60. The trade was a 17.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Champion Homes

Several institutional investors and hedge funds have recently bought and sold shares of the company. UMB Bank n.a. grew its position in Champion Homes by 78.9% in the 4th quarter. UMB Bank n.a. now owns 313 shares of the company's stock valued at $26,000 after buying an additional 138 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Champion Homes by 4.7% in the 3rd quarter. Mackenzie Financial Corp now owns 3,612 shares of the company's stock worth $276,000 after acquiring an additional 161 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Champion Homes by 2.7% in the fourth quarter. Captrust Financial Advisors now owns 7,852 shares of the company's stock valued at $663,000 after acquiring an additional 204 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Champion Homes during the fourth quarter worth about $26,000. Finally, Kestra Advisory Services LLC purchased a new position in Champion Homes during the fourth quarter worth about $26,000.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SKY shares. Weiss Ratings downgraded shares of Champion Homes from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, May 27th. Zacks Research raised shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research note on Monday, July 27th. Barclays lifted their price objective on Champion Homes from $94.00 to $102.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. UBS Group began coverage on Champion Homes in a research note on Friday, June 5th. They set a "buy" rating and a $93.00 price objective for the company. Finally, Royal Bank Of Canada lowered their price target on Champion Homes from $101.00 to $92.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $95.00.

About Champion Homes

Champion Homes, traded under the NYSE ticker SKY, operates as a leading provider of factory-built housing solutions in North America. The company specializes in the design, manufacture and sale of manufactured and modular homes, serving a broad spectrum of customers from first-time homebuyers to those seeking upscale residential properties. Champion Homes leverages vertically integrated operations to streamline production, ensuring consistent quality and cost efficiencies across its product lines.

The company's product portfolio encompasses single- and multi-section modular homes, manufactured home models, park models and select commercial modular buildings.

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