Bessemer Group Inc. Acquires 10,107 Shares of Champion Homes, Inc. (NYSE:SKY)

Bessemer Group Inc. increased its position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 244,149 shares of the company's stock after acquiring an additional 10,107 shares during the period. Bessemer Group Inc. owned about 0.43% of Champion Homes worth $23,136,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SKY. Oppenheimer & Co. Inc. lifted its stake in Champion Homes by 142.2% during the first quarter. Oppenheimer & Co. Inc. now owns 7,394 shares of the company's stock worth $701,000 after purchasing an additional 4,341 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Champion Homes by 5.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,336 shares of the company's stock worth $316,000 after buying an additional 172 shares during the last quarter. Global Trust Asset Management LLC acquired a new position in Champion Homes during the 1st quarter worth about $128,000. Sowell Financial Services LLC bought a new stake in shares of Champion Homes in the 1st quarter valued at about $233,000. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Champion Homes by 16.4% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 473,940 shares of the company's stock valued at $44,909,000 after buying an additional 66,835 shares during the period.

Champion Homes Trading Up 0.3%

SKY stock traded up $0.19 during mid-day trading on Monday, reaching $62.77. The company's stock had a trading volume of 652,462 shares, compared to its average volume of 608,616. Champion Homes, Inc. has a 12 month low of $59.44 and a 12 month high of $116.49. The company has a current ratio of 2.41, a quick ratio of 1.61 and a debt-to-equity ratio of 0.02. The business's 50 day moving average price is $75.65 and its 200 day moving average price is $87.17. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 18.35 and a beta of 1.20.

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

Champion Homes declared that its Board of Directors has initiated a stock repurchase program on Friday, May 30th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently commented on SKY shares. Royal Bank Of Canada cut their price objective 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. Zelman & Associates raised shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, Barclays lowered their target price on shares of Champion Homes from $97.00 to $72.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Champion Homes has an average 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.