Illinois Municipal Retirement Fund Makes New $2.74 Million Investment in Champion Homes, Inc. (NYSE:SKY)

Illinois Municipal Retirement Fund purchased a new stake in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 28,885 shares of the company's stock, valued at approximately $2,737,000. Illinois Municipal Retirement Fund owned approximately 0.05% of Champion Homes at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd bought a new position in shares of Champion Homes during the 4th quarter valued at about $36,000. Sterling Capital Management LLC grew its position in Champion Homes by 645.5% during the fourth quarter. Sterling Capital Management LLC now owns 917 shares of the company's stock valued at $81,000 after acquiring an additional 794 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Champion Homes by 306.0% during the first quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock worth $96,000 after acquiring an additional 765 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Champion Homes in the 4th quarter worth approximately $108,000. Finally, Global Trust Asset Management LLC purchased a new stake in shares of Champion Homes in the 1st quarter valued at $128,000.

Champion Homes Trading Down 0.9%

NYSE:SKY traded down $0.60 during mid-day trading on Thursday, reaching $66.91. 650,418 shares of the company's stock traded hands, compared to its average volume of 646,741. The company has a 50 day moving average price of $75.03 and a 200-day moving average price of $86.89. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 19.56 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.41 and a quick ratio of 1.61. Champion Homes, Inc. has a 12-month low of $59.44 and a 12-month high of $116.49.

Champion Homes (NYSE:SKY - Get Free Report) last posted its earnings results on Tuesday, May 27th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.10). The business had revenue of $593.87 million for the quarter, compared to analysts' expectations of $595.42 million. Champion Homes had a net margin of 7.99% and a return on equity of 13.61%. Champion Homes's quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the firm posted $0.62 earnings per share. On average, sell-side analysts predict that Champion Homes, Inc. will post 3.63 earnings per share for the current year.

Champion Homes announced that its Board of Directors has authorized a share repurchase plan on Friday, May 30th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

SKY has been the topic of several analyst reports. Zelman & Associates upgraded Champion Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. Royal Bank Of Canada decreased their price target on Champion Homes from $96.00 to $82.00 and set a "sector perform" rating on the stock in a research note on Wednesday, May 28th. Finally, Barclays lowered their price objective on Champion Homes from $97.00 to $72.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 28th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Champion Homes has a consensus rating of "Hold" and an average price target of $80.60.

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.