Oppenheimer & Co. Inc. Buys 4,341 Shares of Champion Homes, Inc. (NYSE:SKY)

Oppenheimer & Co. Inc. lifted its stake in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 142.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,394 shares of the company's stock after buying an additional 4,341 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Champion Homes were worth $701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of SKY. Capital Research Global Investors purchased a new stake in Champion Homes in the fourth quarter worth about $98,978,000. Vanguard Group Inc. grew its holdings in Champion Homes by 17.3% in the fourth quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company's stock worth $523,578,000 after purchasing an additional 876,712 shares during the period. Norges Bank purchased a new stake in Champion Homes in the fourth quarter worth about $69,346,000. Capital World Investors grew its holdings in Champion Homes by 31.5% in the fourth quarter. Capital World Investors now owns 2,638,862 shares of the company's stock worth $232,484,000 after purchasing an additional 632,718 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Champion Homes by 17.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,646,482 shares of the company's stock worth $145,055,000 after purchasing an additional 241,326 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SKY shares. Royal Bank Of Canada cut their price objective on shares of Champion Homes from $96.00 to $82.00 and set a "sector perform" rating on the stock in a report on Wednesday, May 28th. Zelman & Associates upgraded shares of Champion Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. Finally, Barclays cut their price target on shares of Champion Homes from $97.00 to $72.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 28th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Champion Homes has an average rating of "Hold" and an average price target of $80.60.

Champion Homes Stock Down 0.9%

Shares of NYSE:SKY traded down $0.60 during trading on Friday, reaching $66.91. 650,418 shares of the stock traded hands, compared to its average volume of 614,273. The stock has a 50-day moving average of $74.66 and a two-hundred day moving average of $86.65. Champion Homes, Inc. has a 52-week low of $59.44 and a 52-week high of $116.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.61 and a current ratio of 2.41. The stock has a market cap of $3.83 billion, a P/E ratio of 19.56 and a beta of 1.16.

Champion Homes (NYSE:SKY - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.10). The company had revenue of $593.87 million for 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 firm's revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the company earned $0.62 EPS. As a group, sell-side analysts expect 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 share buyback plan on Friday, May 30th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its shares are 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.