Champion Homes, Inc. $SKY Stock Holdings Decreased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System reduced its Champion Homes stake by 3.0% to 61,368 shares, while other institutions—including BlackRock and Wasatch Advisors—made significant purchases or increased their positions.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $104; recent targets range from $99 to $115.
• Champion Homes reported quarterly revenue of $710.2 million and EPS of $0.88, slightly exceeding estimates. The stock recently traded at $84.90, within its $63.69–$99.17 52-week range.

California State Teachers Retirement System lowered its holdings in Champion Homes, Inc. (NYSE:SKY - Free Report) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,368 shares of the company's stock after selling 1,893 shares during the quarter. California State Teachers Retirement System owned 0.11% of Champion Homes worth $5,407,748 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Champion Homes during the second quarter worth approximately $794,354,000. Wasatch Advisors LP increased its stake in Champion Homes by 221.3% in the 1st quarter. Wasatch Advisors LP now owns 2,736,767 shares of the company's stock worth $203,533,000 after purchasing an additional 1,885,046 shares during the period. Bamco Inc. NY bought a new stake in Champion Homes in the fourth quarter worth $61,308,000. Bank of America Corp DE bought a new position in Champion Homes in the second quarter worth approximately $52,406,000. Finally, Neumeier Poma Investment Counsel LLC purchased a new position in Champion Homes during the 2nd quarter valued at approximately $51,446,747.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barclays increased their target price on Champion Homes from $102.00 to $109.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Zelman & Associates upgraded shares of Champion Homes from a "hold" rating to an "outperform" rating in a research note on Thursday, August 6th. Citigroup initiated coverage on shares of Champion Homes in a research note on Friday, June 5th. They set a "buy" rating and a $93.00 target price on the stock. UBS Group lifted their price objective on Champion Homes from $93.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada boosted their target price on Champion Homes from $92.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $104.00.

Champion Homes Stock Performance

NYSE SKY traded up $1.14 on Tuesday, hitting $84.90. 237,136 shares of the company traded hands, compared to its average volume of 698,031. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 24.76 and a beta of 1.01. The business's 50 day moving average price is $86.32 and its 200-day moving average price is $80.93. The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01. Champion Homes, Inc. has a 52-week low of $63.69 and a 52-week high of $99.17.

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

Insider Activity

In other Champion Homes news, Director Michael Berman sold 1,500 shares of the business's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $93.22, for a total transaction of $139,830.00. Following the sale, the director owned 6,825 shares in the company, valued at approximately $636,226.50. The trade was a 18.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Erin Helgren sold 1,100 shares of the company's stock in a transaction dated 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 sale, the director directly owned 8,196 shares in the company, valued at approximately $778,620. The trade was a 11.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company's stock.

Champion Homes Company Profile

Champion Homes, Inc, formerly known as Skyline Champion Corporation, designs and manufactures factory-built housing for residential, commercial and specialized applications. Its portfolio includes manufactured homes, modular homes, park model homes, accessory dwelling units and other prefabricated structures, offered through a range of brands and configurations.

The company sells its products through independent and company-owned retailers, builders and developers, serving customers across the United States and parts of Canada.

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