Intech Investment Management LLC Has $2.62 Million Holdings in Champion Homes, Inc. $SKY

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

A number of other institutional investors also recently modified their holdings of SKY. Alliancebernstein L.P. raised its stake in shares of Champion Homes by 67.1% in the first quarter. Alliancebernstein L.P. now owns 1,716,459 shares of the company's stock worth $162,652,000 after acquiring an additional 689,265 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Champion Homes by 63.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,007,639 shares of the company's stock worth $95,484,000 after buying an additional 392,159 shares during the last quarter. Interval Partners LP bought a new stake in shares of Champion Homes during the first quarter worth approximately $14,849,000. Nuveen LLC bought a new stake in shares of Champion Homes during the first quarter worth approximately $13,736,000. Finally, Integrated Investment Consultants LLC raised its stake in shares of Champion Homes by 134.4% during the first quarter. Integrated Investment Consultants LLC now owns 247,458 shares of the company's stock worth $23,449,000 after buying an additional 141,904 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SKY. Barclays boosted their price target on shares of Champion Homes from $72.00 to $74.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Royal Bank Of Canada boosted their price target on shares of Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Finally, Zelman & Associates raised shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 5th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target 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 that occurred on Friday, August 8th. The shares were sold at an average price of $66.03, for a total value of $198,090.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

Champion Homes Trading Down 2.4%

NYSE:SKY traded down $1.82 during trading hours on Friday, hitting $74.50. The stock had a trading volume of 1,994,138 shares, compared to its average volume of 658,461. Champion Homes, Inc. has a one year low of $59.44 and a one year high of $116.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.59 and a current ratio of 2.39. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 19.81 and a beta of 1.18. The business's 50 day moving average is $70.86 and its 200-day moving average is $77.04.

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

Champion Homes declared that its board has authorized 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are 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.