Champion Homes (NYSE:SKY) Releases Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• Champion Homes reported quarterly EPS of $0.95, beating analyst estimates of $0.94 by $0.01; revenue of $727.03 million also topped expectations of $719.71 million.
• EPS was down from $1.03 in the same quarter last year. The stock fell 2.6% on Tuesday to $86.38.
• Analysts hold a consensus “Moderate Buy” rating, with an average price target of $102.75.

Champion Homes (NYSE:SKY - Get Free Report) announced its earnings results on Tuesday. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.01, FiscalAI reports. The business had revenue of $727.03 million for the quarter, compared to analyst estimates of $719.71 million. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%. During the same quarter last year, the firm earned $1.03 EPS.

Champion Homes Stock Down 2.6%

SKY traded down $2.32 on Tuesday, hitting $86.38. 1,016,356 shares of the company were exchanged, compared to its average volume of 685,787. The stock's fifty day moving average is $83.95 and its 200-day moving average is $82.52. Champion Homes has a 12 month low of $63.87 and a 12 month high of $99.17. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 2.74. The company has a market cap of $4.69 billion, a PE ratio of 25.18 and a beta of 1.02.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Oppenheimer started coverage on shares of Champion Homes in a research note on Wednesday, September 30th. They set a "market perform" rating for the company. Royal Bank Of Canada cut their price objective on shares of Champion Homes from $99.00 to $94.00 and set an "outperform" rating on the stock in a research report on Thursday, October 15th. UBS Group boosted their price objective on shares of Champion Homes from $93.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Zelman & Associates upgraded shares of Champion Homes from a "hold" rating to an "outperform" rating in a report on Thursday, August 6th. Finally, Zacks Research raised shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Champion Homes presently has a consensus rating of "Moderate Buy" and an average target price of $102.75.

Insider Buying and Selling

In other news, Director Michael Berman sold 1,500 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $93.22, for a total value of $139,830.00. Following the completion of the sale, the director owned 6,825 shares of the company's stock, valued at approximately $636,226.50. This represents a 18.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Erin Helgren sold 1,100 shares of the firm's 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 completion of the transaction, the director directly owned 8,196 shares of the company's stock, valued at $778,620. This represents a 11.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.60% of the company's stock.

Champion Homes Company Profile

Champion Homes, Inc NYSE: SKY is a manufacturer of factory-built housing in the United States and Canada. The company designs and produces manufactured homes, modular homes and other residential structures in controlled factory environments, offering housing solutions for individual homeowners, developers, retailers and communities.

Its products include single-section and multi-section manufactured homes, modular homes, accessory dwelling units and park model recreational vehicles. Champion Homes markets its products through independent retailers, company-owned retail operations and other distribution channels, and also provides related construction and installation services in selected markets.

The company traces its heritage to the Skyline and Champion businesses, which combined in 2018 to form Skyline Champion Corporation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.