Bank of New York Mellon Corp Purchases New Position in Champion Homes, Inc. $SKY

Bank of New York Mellon Corp bought a new stake in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 330,166 shares of the company's stock, valued at approximately $29,094,000. Bank of New York Mellon Corp owned approximately 0.60% of Champion Homes at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SKY. Comerica Bank increased its position in shares of Champion Homes by 119.9% during the fourth quarter. Comerica Bank now owns 35,543 shares of the company's stock worth $3,003,000 after purchasing an additional 19,377 shares in the last quarter. Militia Capital Management LLC purchased a new position in Champion Homes in the 1st quarter valued at $1,398,000. Horizon Investments LLC acquired a new stake in Champion Homes during the 4th quarter worth $1,439,000. Union Square Park Capital Management LLC acquired a new stake in Champion Homes during the 1st quarter worth $1,116,000. Finally, Bank of America Corp DE grew its holdings in shares of Champion Homes by 8.9% during the first quarter. Bank of America Corp DE now owns 577,007 shares of the company's stock worth $42,912,000 after buying an additional 47,140 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Zacks Research upgraded shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. UBS Group boosted their price target 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. Barclays upped their price objective on shares of Champion Homes from $102.00 to $109.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Citigroup assumed coverage on shares of Champion Homes in a research note on Friday, June 5th. They issued a "buy" rating and a $93.00 target price on the stock. Finally, Weiss Ratings upgraded Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $104.00.

Champion Homes Stock Up 0.2%

Shares of NYSE SKY opened at $90.23 on Friday. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 0.01. The business's 50 day moving average is $86.42 and its two-hundred day moving average is $81.68. Champion Homes, Inc. has a 52-week low of $63.69 and a 52-week high of $99.17. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 26.31 and a beta of 1.01.

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 for the quarter, beating analysts' consensus estimates of $0.87 by $0.01. The business had revenue of $710.23 million during the quarter, compared to analysts' expectations of $701.98 million. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%.The company's revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 earnings per share. Research analysts predict that Champion Homes, Inc. will post 3.4 EPS for the current year.

Insider Buying and Selling at Champion Homes

In other Champion Homes news, Director Michael B. Berman sold 1,500 shares of Champion Homes stock in a transaction dated 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 transaction, the director directly owned 6,825 shares of the company's stock, valued at $636,226.50. The trade was a 18.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Erin Claire Helgren sold 1,100 shares of Champion Homes stock in a transaction that occurred 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 owned 8,196 shares of the company's stock, valued at $778,620. This trade represents a 11.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,522 shares of company stock valued at $1,147,665 in the last three months. 0.60% of the stock is owned by corporate insiders.

Champion Homes Company Profile

Champion Homes, traded under the NYSE ticker SKY, operates as a leading provider of factory-built housing solutions in North America. The company specializes in the design, manufacture and sale of manufactured and modular homes, serving a broad spectrum of customers from first-time homebuyers to those seeking upscale residential properties. Champion Homes leverages vertically integrated operations to streamline production, ensuring consistent quality and cost efficiencies across its product lines.

The company's product portfolio encompasses single- and multi-section modular homes, manufactured home models, park models and select commercial modular buildings.

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