Bank of America Corp DE Takes $52.41 Million Position in Champion Homes, Inc. $SKY

Key Points

• Bank of America acquired 594,714 Champion Homes shares worth approximately $52.4 million, representing about 1.1% of the company.
• Analysts remain broadly positive, with Champion Homes holding a “Moderate Buy” consensus rating and an average price target of $104; several firms recently raised ratings or targets.
• Champion Homes modestly beat quarterly expectations, reporting $0.88 EPS and $710.2 million in revenue, while shares opened at $84.43, down 0.2%.

Bank of America Corp DE bought a new position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 594,714 shares of the company's stock, valued at approximately $52,406,000. Bank of America Corp DE owned about 1.10% of Champion Homes as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Parallel Advisors LLC lifted its position in Champion Homes by 668.6% during the 1st quarter. Parallel Advisors LLC now owns 392 shares of the company's stock valued at $29,000 after purchasing an additional 341 shares during the period. Clearstead Trust LLC acquired a new stake in shares of Champion Homes during the 2nd quarter worth approximately $44,000. Hantz Financial Services Inc. raised its stake in shares of Champion Homes by 258.3% during the fourth quarter. Hantz Financial Services Inc. now owns 559 shares of the company's stock worth $47,000 after buying an additional 403 shares during the last quarter. Assetmark Inc. raised its stake in shares of Champion Homes by 16.8% during the first quarter. Assetmark Inc. now owns 1,000 shares of the company's stock worth $74,000 after buying an additional 144 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Champion Homes by 447.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 941 shares of the company's stock valued at $80,000 after buying an additional 769 shares during the period.

Insider Buying and Selling at Champion Homes

In related news, Director Michael Berman sold 1,500 shares of the company's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $93.22, for a total value of $139,830.00. Following the completion of the transaction, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Erin Helgren sold 1,100 shares of the company's stock in a transaction on Friday, August 7th. The stock was 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 approximately $778,620. The trade was a 11.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SKY shares. Zelman & Associates raised shares of Champion Homes from a "hold" rating to an "outperform" rating in a research note on Thursday, August 6th. Barclays increased their price target on Champion Homes from $102.00 to $109.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Zacks Research upgraded Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. Citigroup initiated coverage on Champion Homes in a research note on Friday, June 5th. They set a "buy" rating and a $93.00 price objective for the company. Finally, Royal Bank Of Canada upped their price objective on Champion Homes from $92.00 to $99.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Champion Homes currently has an average rating of "Moderate Buy" and an average target price of $104.00.

Champion Homes Stock Down 0.2%

Shares of Champion Homes stock opened at $84.43 on Monday. The company has a market capitalization of $4.58 billion, a P/E ratio of 24.62 and a beta of 1.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.74 and a quick ratio of 1.97. The business has a 50-day moving average of $86.58 and a two-hundred day moving average of $80.72. Champion Homes, Inc. has a 1 year low of $63.69 and a 1 year high of $99.17.

Champion Homes (NYSE:SKY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.01. The business had revenue of $710.23 million during the quarter, compared to analyst estimates of $701.98 million. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%.Champion Homes's quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.19 EPS. As a group, equities analysts predict that Champion Homes, Inc. will post 3.4 EPS for the current year.

About Champion Homes

Champion Homes, Inc, formerly known as Skyline Champion Corporation, designs and manufactures factory-built housing for residential, commercial and specialized applications. Its portfolio includes manufactured homes, modular homes, park model homes, accessory dwelling units and other prefabricated structures, offered through a range of brands and configurations.

The company sells its products through independent and company-owned retailers, builders and developers, serving customers across the United States and parts of Canada.

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