Principal Financial Group Inc. Purchases 5,887 Shares of Champion Homes, Inc. (NYSE:SKY)

Principal Financial Group Inc. increased its stake in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 2.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 262,811 shares of the company's stock after buying an additional 5,887 shares during the period. Principal Financial Group Inc. owned 0.46% of Champion Homes worth $24,904,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Meritage Portfolio Management lifted its holdings in shares of Champion Homes by 6.8% during the first quarter. Meritage Portfolio Management now owns 6,087 shares of the company's stock worth $577,000 after buying an additional 389 shares in the last quarter. Peregrine Capital Management LLC boosted its holdings in Champion Homes by 4.2% in the 1st quarter. Peregrine Capital Management LLC now owns 137,195 shares of the company's stock valued at $13,001,000 after purchasing an additional 5,563 shares during the period. New York State Teachers Retirement System grew its position in shares of Champion Homes by 3.4% during the 1st quarter. New York State Teachers Retirement System now owns 12,300 shares of the company's stock worth $1,166,000 after purchasing an additional 400 shares in the last quarter. KBC Group NV increased its holdings in shares of Champion Homes by 17.2% during the first quarter. KBC Group NV now owns 2,682 shares of the company's stock worth $254,000 after purchasing an additional 394 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new stake in shares of Champion Homes in the first quarter valued at approximately $2,737,000.

Champion Homes Price Performance

SKY traded down $1.32 during trading on Friday, hitting $66.52. 533,328 shares of the stock traded hands, compared to its average volume of 614,253. Champion Homes, Inc. has a twelve month low of $59.44 and a twelve month high of $116.49. The business has a 50 day moving average price of $72.27 and a 200 day moving average price of $85.42. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.41 and a quick ratio of 1.61. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 19.45 and a beta of 1.16.

Champion Homes (NYSE:SKY - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.10). The business had revenue of $593.87 million during the quarter, compared to analyst estimates of $595.42 million. Champion Homes had a net margin of 7.99% and a return on equity of 13.61%. The business's quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. Equities research analysts forecast 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 approved a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

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

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.