California State Teachers Retirement System Boosts Position in Champion Homes, Inc. $SKY

Key Points

• California State Teachers Retirement System increased its Champion Homes stake by 23.8% in the first quarter, acquiring 12,142 shares to own 63,261 shares valued at approximately $4.7 million.
• Analyst sentiment is favorable, with Champion Homes receiving a consensus “Moderate Buy” rating and an average price target of $104; UBS and Barclays recently raised their targets.
• Champion Homes exceeded quarterly expectations with $0.88 in EPS and $710.23 million in revenue, while shares opened at $94.78—near the company’s 52-week high of $99.17.

California State Teachers Retirement System lifted its holdings in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 23.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,261 shares of the company's stock after acquiring an additional 12,142 shares during the quarter. California State Teachers Retirement System owned about 0.11% of Champion Homes worth $4,705,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. UMB Bank n.a. boosted its stake in shares of Champion Homes by 78.9% in the fourth quarter. UMB Bank n.a. now owns 313 shares of the company's stock valued at $26,000 after purchasing an additional 138 shares during the period. Los Angeles Capital Management LLC acquired a new position in Champion Homes during the 4th quarter worth $26,000. Kestra Advisory Services LLC acquired a new position in Champion Homes during the 4th quarter worth $26,000. Parallel Advisors LLC increased its position in shares of Champion Homes by 668.6% in the 1st quarter. Parallel Advisors LLC now owns 392 shares of the company's stock worth $29,000 after purchasing an additional 341 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Champion Homes in the 3rd quarter worth about $35,000.

Analyst Upgrades and Downgrades

SKY has been the topic of several research analyst reports. Zacks Research raised 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 objective on Champion Homes from $93.00 to $115.00 and gave the company a "buy" rating in a report on Thursday. Weiss Ratings cut Champion Homes from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, May 27th. Barclays increased their target price on Champion Homes from $102.00 to $109.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Zelman & Associates raised shares of Champion Homes from a "hold" rating to an "outperform" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $104.00.

Insiders Place Their Bets

In related news, EVP Joseph A. Kimmell sold 7,922 shares of Champion Homes stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $75.70, for a total transaction of $599,695.40. Following the transaction, the executive vice president directly owned 36,118 shares of the company's stock, valued at $2,734,132.60. The trade was a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by corporate insiders.

Champion Homes Stock Up 3.6%

Shares of Champion Homes stock opened at $94.78 on Friday. The company has a market capitalization of $5.20 billion, a P/E ratio of 27.63 and a beta of 1.01. The business's fifty day moving average price is $81.99 and its two-hundred day moving average price is $81.09. Champion Homes, Inc. has a 1-year low of $63.69 and a 1-year high of $99.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.74 and a quick ratio of 1.69.

Champion Homes (NYSE:SKY - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.87 by $0.01. The firm had revenue of $710.23 million for the quarter, compared to analysts' expectations of $701.98 million. Champion Homes had a net margin of 7.16% and a return on equity of 12.52%. Champion Homes's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $1.19 EPS. As a group, research analysts forecast that Champion Homes, Inc. will post 3.4 EPS for the current year.

Champion Homes 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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