Champion Homes, Inc. $SKY Shares Bought by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC significantly increased its stake in Champion Homes, Inc. (NYSE:SKY) by 27.4% in Q1, now owning 27,696 shares valued at approximately $2.62 million.
• Champion Homes' shares received positive analyst attention, with Barclays raising the price target from $72 to $74 and Royal Bank of Canada increasing it from $82 to $85, though the stock currently holds an average rating of "Hold".
• The company reported strong earnings with $1.19 earnings per share for the last quarter, surpassing estimates and reflecting an 11.7% year-over-year revenue growth.

Intech Investment Management LLC grew its position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 27.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,696 shares of the company's stock after acquiring an additional 5,953 shares during the quarter. Intech Investment Management LLC's holdings in Champion Homes were worth $2,624,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. AlphaQuest LLC lifted its holdings in Champion Homes by 1,231.3% in the first quarter. AlphaQuest LLC now owns 852 shares of the company's stock worth $81,000 after purchasing an additional 788 shares during the period. GAMMA Investing LLC lifted its holdings in Champion Homes by 306.0% in the first quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock worth $96,000 after purchasing an additional 765 shares during the period. Global Trust Asset Management LLC acquired a new stake in Champion Homes in the first quarter worth about $128,000. Bosun Asset Management LLC acquired a new stake in Champion Homes in the first quarter worth about $208,000. Finally, PharVision Advisers LLC acquired a new stake in Champion Homes in the fourth quarter worth about $216,000.

Analyst Upgrades and Downgrades

SKY has been the subject of several research analyst reports. Barclays upped their price objective on shares of Champion Homes from $72.00 to $74.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Royal Bank Of Canada upped their price objective on shares of Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Finally, Zelman & Associates raised shares of Champion Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $86.00.

Insider Buying and Selling at Champion Homes

In other news, EVP Joseph A. Kimmell sold 3,000 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $66.03, for a total value of $198,090.00. Following the transaction, the executive vice president owned 44,568 shares in the company, valued at $2,942,825.04. This represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by corporate insiders.

Champion Homes Price Performance

Shares of SKY opened at $74.65 on Monday. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 19.85 and a beta of 1.18. Champion Homes, Inc. has a fifty-two week low of $59.44 and a fifty-two week high of $116.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.59. The business's 50-day moving average is $69.90 and its 200-day moving average is $77.56.

Champion Homes (NYSE:SKY - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.31. The company had revenue of $701.32 million for the quarter, compared to the consensus estimate of $642.18 million. Champion Homes had a return on equity of 14.35% and a net margin of 8.50%.The firm's quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. Equities research analysts expect that Champion Homes, Inc. will post 3.63 EPS for the current fiscal year.

Champion Homes announced that its Board of Directors has approved a stock buyback plan on Friday, May 30th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits 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 believes its stock is 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.

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