Champion Homes, Inc. (NYSE:SKY) Stock Position Decreased by Royce & Associates LP

Royce & Associates LP decreased its holdings in Champion Homes, Inc. (NYSE:SKY - Free Report) by 23.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,936 shares of the company's stock after selling 66,845 shares during the quarter. Royce & Associates LP owned approximately 0.37% of Champion Homes worth $20,273,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Burney Co. lifted its position in Champion Homes by 7.1% during the first quarter. Burney Co. now owns 13,126 shares of the company's stock valued at $1,244,000 after buying an additional 872 shares in the last quarter. Guidance Capital Inc. increased its position in shares of Champion Homes by 8.1% in the 1st quarter. Guidance Capital Inc. now owns 5,583 shares of the company's stock worth $499,000 after purchasing an additional 417 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Champion Homes by 7.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 20,430 shares of the company's stock valued at $1,936,000 after buying an additional 1,430 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in Champion Homes by 25.5% during the 1st quarter. Verdence Capital Advisors LLC now owns 4,364 shares of the company's stock worth $414,000 after buying an additional 887 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Champion Homes by 117.9% in the 1st quarter. New York State Common Retirement Fund now owns 36,299 shares of the company's stock worth $3,440,000 after acquiring an additional 19,642 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank Of Canada reduced their price objective on Champion Homes from $96.00 to $82.00 and set a "sector perform" rating on the stock in a research note on Wednesday, May 28th. Zelman & Associates upgraded Champion Homes from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, Barclays cut their price target on 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 given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $80.60.

Champion Homes Stock Performance

SKY stock traded up $0.68 on Friday, reaching $65.22. The company's stock had a trading volume of 403,021 shares, compared to its average volume of 590,762. The firm has a fifty day moving average of $67.31 and a two-hundred day moving average of $83.84. 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 capitalization of $3.74 billion, a P/E ratio of 19.07 and a beta of 1.16. Champion Homes, Inc. has a 52 week low of $59.44 and a 52 week high of $116.49.

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). Champion Homes had a net margin of 7.99% and a return on equity of 13.61%. The company had revenue of $593.87 million for the quarter, compared to the consensus estimate of $595.42 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. Champion Homes's revenue for the quarter was up .7% compared to the same quarter last year. As a group, analysts predict that Champion Homes, Inc. will post 3.63 EPS for the current fiscal year.

Champion Homes declared that its Board of Directors has authorized a stock buyback plan on Friday, May 30th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

About Champion Homes

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.