Interval Partners LP Acquires Shares of 156,700 Champion Homes, Inc. $SKY

Key Points

• Interval Partners LP has acquired a new position in Champion Homes, purchasing 156,700 shares valued at approximately $14.85 million, increasing their stake to about 0.27% of the company.
• Champion Homes reported strong quarterly earnings with $1.19 EPS, exceeding analysts' expectations of $0.88, alongside revenues of $701.32 million, a significant increase from the previous year.
• Following recent analyst upgrades, the consensus rating for Champion Homes is currently "Hold", with price targets ranging from $74.00 to $86.00.

Interval Partners LP bought a new stake in Champion Homes, Inc. (NYSE:SKY - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 156,700 shares of the company's stock, valued at approximately $14,849,000. Interval Partners LP owned 0.27% of Champion Homes as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Alliancebernstein L.P. raised its stake in Champion Homes by 67.1% during the 1st quarter. Alliancebernstein L.P. now owns 1,716,459 shares of the company's stock valued at $162,652,000 after acquiring an additional 689,265 shares during the last quarter. SG Capital Management LLC raised its stake in Champion Homes by 80.1% during the 4th quarter. SG Capital Management LLC now owns 340,512 shares of the company's stock valued at $29,999,000 after acquiring an additional 151,488 shares during the last quarter. Nuveen LLC purchased a new stake in Champion Homes during the 1st quarter valued at approximately $13,736,000. Integrated Investment Consultants LLC raised its stake in Champion Homes by 134.4% during the 1st quarter. Integrated Investment Consultants LLC now owns 247,458 shares of the company's stock valued at $23,449,000 after acquiring an additional 141,904 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC raised its stake in Champion Homes by 30.4% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 527,770 shares of the company's stock valued at $46,497,000 after acquiring an additional 123,097 shares during the last quarter.

Wall Street Analyst Weigh In

SKY has been the topic of a number of analyst reports. Zelman & Associates upgraded Champion Homes from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 5th. Royal Bank Of Canada upped their price objective on Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Finally, Barclays upped their price objective on Champion Homes from $72.00 to $74.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $86.00.

Insider Activity

In related news, EVP Joseph A. Kimmell sold 1,000 shares of Champion Homes stock in a transaction on Monday, August 11th. The stock was sold at an average price of $65.24, for a total value of $65,240.00. Following the transaction, the executive vice president owned 43,568 shares in the company, valued at approximately $2,842,376.32. This trade represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.

Champion Homes Price Performance

NYSE SKY traded down $0.53 during mid-day trading on Wednesday, hitting $74.01. The stock had a trading volume of 147,521 shares, compared to its average volume of 649,824. Champion Homes, Inc. has a 52-week low of $59.44 and a 52-week high of $116.49. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 19.68 and a beta of 1.18. The company has a 50 day simple moving average of $69.42 and a 200 day simple moving average of $78.29. The company has a quick ratio of 1.59, a current ratio of 2.39 and a debt-to-equity ratio of 0.02.

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

Champion Homes declared that its Board of Directors has approved a share buyback program on Friday, May 30th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Champion Homes Profile

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.