Champion Homes, Inc. (NYSE:SKY) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 262,811 shares of the company's stock after purchasing an additional 5,887 shares during the period. Principal Financial Group Inc. owned 0.46% of Champion Homes worth $24,904,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in Champion Homes during the 4th quarter valued at about $36,000. Sterling Capital Management LLC boosted its stake in Champion Homes by 645.5% during the 4th quarter. Sterling Capital Management LLC now owns 917 shares of the company's stock valued at $81,000 after purchasing an additional 794 shares during the period. GAMMA Investing LLC boosted its stake in Champion Homes by 306.0% during the 1st quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock valued at $96,000 after purchasing an additional 765 shares during the period. Headlands Technologies LLC acquired a new position in Champion Homes during the 4th quarter valued at about $108,000. Finally, Global Trust Asset Management LLC acquired a new position in Champion Homes during the 1st quarter valued at about $128,000.

Champion Homes Stock Up 1.2%

SKY stock opened at $65.89 on Wednesday. The company has a current ratio of 2.41, a quick ratio of 1.61 and a debt-to-equity ratio of 0.02. The firm's 50-day moving average is $73.51 and its two-hundred day moving average is $85.93. Champion Homes, Inc. has a 52 week low of $59.44 and a 52 week high of $116.49. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 19.27 and a beta of 1.16.

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

Champion Homes announced that its board has approved a share repurchase program on Friday, May 30th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

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

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.

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