Champion Homes, Inc. (NYSE:SKY) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 339,232 shares of the company's stock after selling 11,828 shares during the period. Bank of New York Mellon Corp owned about 0.59% of Champion Homes worth $32,146,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SKY. Harvest Fund Management Co. Ltd acquired a new position in Champion Homes during the 4th quarter worth about $36,000. Sterling Capital Management LLC lifted its stake in Champion Homes by 645.5% during the 4th quarter. Sterling Capital Management LLC now owns 917 shares of the company's stock worth $81,000 after acquiring an additional 794 shares in the last quarter. GAMMA Investing LLC lifted its stake in Champion Homes by 306.0% during the 1st 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 acquired a new position in Champion Homes during the 4th quarter worth about $108,000. Finally, Global Trust Asset Management LLC acquired a new position in Champion Homes during the 1st quarter worth about $128,000.

Analyst Ratings Changes

Several research firms recently issued reports on SKY. Royal Bank Of Canada decreased their target price 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. Barclays reduced their price target on Champion Homes from $97.00 to $72.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 28th. Finally, Zelman & Associates raised Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $80.60.

Champion Homes Stock Performance

NYSE:SKY traded down $0.51 during mid-day trading on Friday, reaching $64.41. 31,020 shares of the stock were exchanged, compared to its average volume of 634,433. The company has a 50 day simple moving average of $70.43 and a 200-day simple moving average of $84.78. The stock has a market capitalization of $3.69 billion, a P/E ratio of 18.87 and a beta of 1.16. The company has a quick ratio of 1.61, a current ratio of 2.41 and a debt-to-equity ratio of 0.02. 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 released its quarterly earnings results on Tuesday, May 27th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.10). The firm had revenue of $593.87 million for the quarter, compared to analysts' expectations of $595.42 million. Champion Homes had a return on equity of 13.61% and a net margin of 7.99%. The company's quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 EPS. Analysts anticipate that Champion Homes, Inc. will post 3.63 earnings per share for the current fiscal year.

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

Champion Homes Company 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.