Champion Homes, Inc. (NYSE:SKY) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analyst sentiment is moderately bullish: Nine brokerages rate Champion Homes a consensus “Moderate Buy,” with five buys, one strong buy, and three holds. The average 12-month price target is $104, above the reported share price of $79.86.
• Quarterly results slightly exceeded expectations: Champion Homes reported earnings of $0.88 per share versus the $0.87 consensus estimate and revenue of $710.23 million, up 1.3% year over year.
• Insiders recently reduced their holdings: Two directors sold a combined 2,600 shares, while insiders collectively own just 0.60% of the company. Institutional interest remains significant, including BlackRock’s approximately $794 million new position.

Shares of Champion Homes, Inc. (NYSE:SKY - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nine ratings firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $104.00.

Several equities research analysts recently issued reports on SKY shares. UBS Group increased their target price on shares of Champion Homes from $93.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Oppenheimer started coverage on shares of Champion Homes in a report on Wednesday, September 30th. They set a "market perform" rating on the stock. Royal Bank Of Canada upped their price target on shares of Champion Homes from $92.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Barclays upped their price target on shares of Champion Homes from $102.00 to $109.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings raised shares of Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 7th.

Insiders Place Their Bets

In related news, Director Erin Helgren sold 1,100 shares of Champion Homes stock in a transaction on Friday, August 7th. The shares were sold at an average price of $95.00, for a total transaction of $104,500.00. Following the transaction, the director owned 8,196 shares in the company, valued at approximately $778,620. The trade was a 11.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Berman sold 1,500 shares of the company's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $93.22, for a total transaction of $139,830.00. Following the completion of the transaction, the director directly owned 6,825 shares of the company's stock, valued at $636,226.50. This represents a 18.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Champion Homes

A number of institutional investors and hedge funds have recently bought and sold shares of SKY. BlackRock Inc. purchased a new position in Champion Homes in the 2nd quarter worth approximately $794,354,000. Wasatch Advisors LP boosted its stake in Champion Homes by 0.4% in the 2nd quarter. Wasatch Advisors LP now owns 2,747,516 shares of the company's stock worth $242,111,000 after purchasing an additional 10,749 shares during the period. Dimensional Fund Advisors LP boosted its stake in Champion Homes by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,736,164 shares of the company's stock worth $129,111,000 after purchasing an additional 80,531 shares during the period. Congress Asset Management Co. boosted its stake in Champion Homes by 0.8% in the 3rd quarter. Congress Asset Management Co. now owns 1,222,557 shares of the company's stock worth $104,773,000 after purchasing an additional 9,597 shares during the period. Finally, Bamco Inc. NY bought a new position in Champion Homes in the 4th quarter worth approximately $61,308,000.

Champion Homes Stock Performance

Shares of SKY opened at $79.86 on Monday. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $87.71 and a two-hundred day simple moving average of $81.33. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 23.28 and a beta of 1.02. Champion Homes has a 52 week low of $63.69 and a 52 week high of $99.17.

Champion Homes (NYSE:SKY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. The firm had revenue of $710.23 million for the quarter, compared to the consensus estimate of $701.98 million. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%. The business's revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.19 earnings per share. On average, analysts expect that Champion Homes will post 3.40 EPS for the current year.

Champion Homes Company Profile

Champion Homes, Inc NYSE: SKY is a manufacturer of factory-built housing in North America. The company designs and produces manufactured and modular homes, along with park model recreational vehicles and other off-site construction products. Its homes are sold through independent and company-owned retailers, developers, and other housing channels.

The company's products serve a range of residential needs, including affordable single-family housing, workforce housing, multifamily developments, accessory dwelling units, and disaster-recovery housing.

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