Alberta Investment Management Corp Has $3.46 Million Stock Position in Champion Homes, Inc. (NYSE:SKY)

Key Points

• Alberta Investment Management Corp reduced its stake in Champion Homes, Inc. by 22.3%, holding 36,502 shares worth approximately $3.46 million after selling 10,482 shares in the first quarter.
• Champion Homes announced a $50 million share repurchase program, indicating that the board believes the shares are undervalued.
• Analysts have recently adjusted their price targets for Champion Homes, with Royal Bank of Canada lowering its target from $96 to $82, reflecting a cautious outlook on the stock.

Alberta Investment Management Corp lessened its holdings in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 22.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,502 shares of the company's stock after selling 10,482 shares during the quarter. Alberta Investment Management Corp owned 0.06% of Champion Homes worth $3,459,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Capital World Investors increased its holdings in Champion Homes by 31.5% during the 4th quarter. Capital World Investors now owns 2,638,862 shares of the company's stock worth $232,484,000 after purchasing an additional 632,718 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Champion Homes by 17.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,646,482 shares of the company's stock valued at $145,055,000 after purchasing an additional 241,326 shares in the last quarter. Capital Research Global Investors bought a new stake in shares of Champion Homes in the 4th quarter worth $98,978,000. Congress Asset Management Co. lifted its holdings in shares of Champion Homes by 8.8% during the first quarter. Congress Asset Management Co. now owns 661,578 shares of the company's stock valued at $62,691,000 after purchasing an additional 53,543 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC grew its holdings in shares of Champion Homes by 19.1% during the fourth quarter. Cramer Rosenthal Mcglynn LLC now owns 599,297 shares of the company's stock valued at $52,798,000 after buying an additional 96,188 shares in the last quarter.

Champion Homes Stock Performance

SKY traded down $1.71 on Thursday, hitting $67.45. The company had a trading volume of 709,925 shares, compared to its average volume of 639,594. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 17.94 and a beta of 1.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.41 and a quick ratio of 1.61. The company's fifty day moving average price is $64.54 and its 200 day moving average price is $82.50. Champion Homes, Inc. has a 1-year low of $59.44 and a 1-year high of $116.49.

Champion Homes (NYSE:SKY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.31. The business had revenue of $701.32 million during 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 14.47%. Champion Homes's quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. Equities analysts predict that Champion Homes, Inc. will post 3.63 earnings per share for the current fiscal year.

Champion Homes declared that its board has approved a stock buyback plan on Friday, May 30th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have weighed in on SKY. Royal Bank Of Canada lifted their target price on Champion Homes from $82.00 to $85.00 and gave the company a "sector perform" rating in a research note on Thursday. Barclays increased their target price on shares of Champion Homes from $72.00 to $74.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Zelman & Associates upgraded shares of Champion Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Champion Homes presently has a consensus rating of "Hold" and a consensus target price of $81.60.

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.