Burgundy Asset Management Ltd. Buys 51,853 Shares of Champion Homes, Inc. $SKY

Key Points

• Burgundy Asset Management Ltd. increased its stake in Champion Homes, Inc. (NYSE:SKY) by 6.8% during the first quarter, owning approximately $76.96 million worth of shares after purchasing an additional 51,853 shares.
• Champion Homes reported earnings of $1.19 per share for the last quarter, surpassing analysts' estimates by $0.31, and saw a revenue increase of 11.7% compared to the same quarter last year.
• Recent ratings from analysts indicate a mix of opinions, with four giving a hold rating and one a buy rating, while the average price target for the stock is set at $86.00.

Burgundy Asset Management Ltd. raised its stake in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 812,204 shares of the company's stock after acquiring an additional 51,853 shares during the period. Burgundy Asset Management Ltd. owned about 1.42% of Champion Homes worth $76,964,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Capital World Investors lifted its stake in Champion Homes by 31.5% during the 4th quarter. Capital World Investors now owns 2,638,862 shares of the company's stock valued at $232,484,000 after acquiring an additional 632,718 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Champion Homes by 17.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,646,482 shares of the company's stock valued at $145,055,000 after acquiring an additional 241,326 shares in the last quarter. Capital Research Global Investors bought a new position in Champion Homes during the 4th quarter valued at $98,978,000. Charles Schwab Investment Management Inc. lifted its stake in Champion Homes by 2.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 698,052 shares of the company's stock valued at $66,147,000 after acquiring an additional 15,793 shares in the last quarter. Finally, Congress Asset Management Co. lifted its stake in Champion Homes by 8.8% during the 1st quarter. Congress Asset Management Co. now owns 661,578 shares of the company's stock valued at $62,691,000 after acquiring an additional 53,543 shares in the last quarter.

Insiders Place Their Bets

In related news, EVP Joseph A. Kimmell sold 1,000 shares of Champion Homes stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $65.24, for a total value of $65,240.00. Following the completion of the sale, the executive vice president owned 43,568 shares of the company's stock, valued at approximately $2,842,376.32. This trade represents a 2.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.20% of the company's stock.

Champion Homes Stock Performance

SKY traded up $4.7030 during trading hours on Friday, hitting $76.1730. The stock had a trading volume of 381,128 shares, compared to its average volume of 648,912. The company's fifty day simple moving average is $65.84 and its 200 day simple moving average is $81.01. Champion Homes, Inc. has a 1 year low of $59.44 and a 1 year high of $116.49. The stock has a market cap of $4.31 billion, a PE ratio of 20.25 and a beta of 1.13. The company has a quick ratio of 1.59, a current ratio of 2.39 and a debt-to-equity ratio of 0.02.

Champion Homes (NYSE:SKY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.31. Champion Homes had a return on equity of 14.35% and a net margin of 8.50%.The company had revenue of $701.32 million during the quarter, compared to analyst estimates of $642.18 million. During the same quarter last year, the firm posted $0.91 EPS. The firm's revenue for the quarter was up 11.7% on a year-over-year basis. Equities analysts anticipate that Champion Homes, Inc. will post 3.63 earnings per share for the current year.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Royal Bank Of Canada raised their price objective on Champion Homes from $82.00 to $85.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Barclays raised their target price on Champion Homes from $72.00 to $74.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Finally, Zelman & Associates raised Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $86.00.

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.