Champion Homes, Inc. $SKY Shares Acquired by Meeder Asset Management Inc.

Key Points

• Meeder Asset Management dramatically increased its stake in Champion Homes, boosting holdings by 1,559.9% in the first quarter to 20,450 shares worth about $1.52 million.
• Wall Street sentiment remains constructive, with Champion Homes carrying a consensus “Moderate Buy” rating and an average price target of $95.00. UBS, Citigroup, and Barclays all maintained or initiated bullish views, with Barclays lifting its target to $102.
• Recent earnings were solid, as the company reported $0.68 EPS on revenue of $621.28 million, beating estimates and posting 15.2% year-over-year revenue growth.

Meeder Asset Management Inc. grew its holdings in Champion Homes, Inc. (NYSE:SKY - Free Report) by 1,559.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 20,450 shares of the company's stock after acquiring an additional 19,218 shares during the quarter. Meeder Asset Management Inc.'s holdings in Champion Homes were worth $1,521,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Champion Homes by 7.5% during the third quarter. Wellington Management Group LLP now owns 4,800,562 shares of the company's stock worth $366,619,000 after purchasing an additional 333,666 shares during the last quarter. Wasatch Advisors LP raised its holdings in Champion Homes by 221.3% during the first quarter. Wasatch Advisors LP now owns 2,736,767 shares of the company's stock worth $203,533,000 after purchasing an additional 1,885,046 shares in the last quarter. State Street Corp raised its holdings in Champion Homes by 4.0% during the second quarter. State Street Corp now owns 2,579,091 shares of the company's stock worth $161,477,000 after purchasing an additional 98,659 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Champion Homes by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,736,164 shares of the company's stock worth $129,111,000 after buying an additional 80,531 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Champion Homes by 7.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,411,351 shares of the company's stock worth $107,785,000 after buying an additional 91,989 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SKY shares. Weiss Ratings downgraded shares of Champion Homes from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, May 27th. UBS Group started coverage on shares of Champion Homes in a research note on Friday, June 5th. They issued a "buy" rating and a $93.00 price objective for the company. Barclays raised their price objective on Champion Homes from $94.00 to $102.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Citigroup assumed coverage on Champion Homes in a research report on Friday, June 5th. They set a "buy" rating and a $93.00 target price on the stock. Finally, Zacks Research downgraded Champion Homes from a "hold" rating to a "strong sell" rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Champion Homes presently has an average rating of "Moderate Buy" and a consensus price target of $95.00.

Insider Buying and Selling

In other Champion Homes news, EVP Joseph A. Kimmell sold 7,922 shares of Champion Homes stock in a transaction on Friday, June 5th. The shares were sold at an average price of $75.70, for a total value of $599,695.40. Following the transaction, the executive vice president directly owned 36,118 shares in the company, valued at approximately $2,734,132.60. The trade was a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Champion Homes Stock Performance

Shares of SKY opened at $81.52 on Tuesday. The company has a current ratio of 2.48, a quick ratio of 1.69 and a debt-to-equity ratio of 0.01. The firm has a market cap of $4.47 billion, a PE ratio of 22.27 and a beta of 1.00. The company's 50 day simple moving average is $78.07 and its 200-day simple moving average is $81.69. Champion Homes, Inc. has a 12-month low of $60.13 and a 12-month high of $99.17.

Champion Homes (NYSE:SKY - Get Free Report) last released its quarterly earnings results on Tuesday, May 26th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. The firm had revenue of $621.28 million during the quarter, compared to the consensus estimate of $607.39 million. Champion Homes had a net margin of 7.77% and a return on equity of 13.80%. Champion Homes's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. As a group, equities analysts predict that Champion Homes, Inc. will post 3.4 EPS for the current year.

Champion Homes Company Profile

Champion Homes, traded under the NYSE ticker SKY, operates as a leading provider of factory-built housing solutions in North America. The company specializes in the design, manufacture and sale of manufactured and modular homes, serving a broad spectrum of customers from first-time homebuyers to those seeking upscale residential properties. Champion Homes leverages vertically integrated operations to streamline production, ensuring consistent quality and cost efficiencies across its product lines.

The company's product portfolio encompasses single- and multi-section modular homes, manufactured home models, park models and select commercial modular buildings.

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