Oppenheimer & Co. Inc. Boosts Stake in Champion Homes, Inc. (NYSE:SKY)

Oppenheimer & Co. Inc. raised its holdings in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 142.2% in the 1st quarter, according to its most recent Form 13F filing 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 period. Oppenheimer & Co. Inc.'s holdings in Champion Homes were worth $701,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in shares of Champion Homes by 80.7% in the fourth quarter. Bank of New York Mellon Corp now owns 351,060 shares of the company's stock worth $30,928,000 after purchasing an additional 156,757 shares during the last quarter. Amalgamated Bank boosted its position in Champion Homes by 746.5% in the 4th quarter. Amalgamated Bank now owns 15,491 shares of the company's stock valued at $1,365,000 after buying an additional 13,661 shares during the period. Oppenheimer Asset Management Inc. grew its stake in Champion Homes by 14.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 10,094 shares of the company's stock worth $889,000 after acquiring an additional 1,309 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Champion Homes in the 4th quarter worth about $1,692,000. Finally, Mutual of America Capital Management LLC increased its position in shares of Champion Homes by 3.3% during the fourth quarter. Mutual of America Capital Management LLC now owns 93,020 shares of the company's stock worth $8,195,000 after acquiring an additional 2,987 shares during the period.

Wall Street Analyst Weigh In

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

Champion Homes Stock Performance

Champion Homes stock traded up $1.35 during mid-day trading on Wednesday, hitting $67.46. The company had a trading volume of 1,031,946 shares, compared to its average volume of 612,527. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 18.73 and a beta of 1.16. Champion Homes, Inc. has a 12-month low of $59.44 and a 12-month high of $116.49. The company's fifty day moving average is $75.34 and its 200-day moving average is $87.03. The company has a current ratio of 2.41, a quick ratio of 1.61 and a debt-to-equity ratio of 0.02.

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

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

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.