Champion Homes' (SKY) "Hold (C)" Rating Reiterated at Weiss Ratings

Key Points

• Champion Homes' stock (NYSE:SKY) received a reaffirmed "hold (C)" rating from Weiss Ratings, while Barclays raised its price target from $72.00 to $74.00.
• The company reported strong quarterly earnings, with an EPS of $1.19, exceeding estimates by $0.31, and revenues of $701.32 million, up 11.7% year-over-year.
• Champion Homes has a current market capitalization of $3.78 billion, with a 52-week price range from $59.44 to $116.49.

Champion Homes (NYSE:SKY - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research firms have also weighed in on SKY. Barclays boosted their price objective on shares of Champion Homes from $72.00 to $74.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Zacks Research lowered shares of Champion Homes from a "hold" rating to a "strong sell" rating in a research report on Monday. Finally, Royal Bank Of Canada upped their price target on shares of Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $86.00.

Champion Homes Price Performance

SKY stock traded up $0.53 during trading on Wednesday, reaching $66.82. 200,117 shares of the company were exchanged, compared to its average volume of 659,696. The company has a market cap of $3.78 billion, a P/E ratio of 17.78 and a beta of 1.16. Champion Homes has a 52-week low of $59.44 and a 52-week high of $116.49. The stock's 50 day moving average price is $73.02 and its 200 day moving average price is $75.17. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.59 and a current ratio of 2.39.

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

Insider Buying and Selling

In other Champion Homes news, EVP Joseph A. Kimmell sold 3,000 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $66.03, for a total transaction of $198,090.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SKY. Portside Wealth Group LLC lifted its position in shares of Champion Homes by 8.6% in the 1st quarter. Portside Wealth Group LLC now owns 3,873 shares of the company's stock worth $367,000 after buying an additional 306 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Champion Homes by 306.0% in the 1st quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock worth $96,000 after buying an additional 765 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of Champion Homes by 27.6% in the 1st quarter. Handelsbanken Fonder AB now owns 19,400 shares of the company's stock worth $1,838,000 after buying an additional 4,200 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Champion Homes by 11.2% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 213,944 shares of the company's stock worth $20,273,000 after buying an additional 21,480 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of Champion Homes by 16.4% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 473,940 shares of the company's stock worth $44,909,000 after acquiring an additional 66,835 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.

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