Deutsche Bank AG Sells 31,897 Shares of Champion Homes, Inc. $SKY

Deutsche Bank AG lowered its position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 37.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,226 shares of the company's stock after selling 31,897 shares during the quarter. Deutsche Bank AG owned about 0.09% of Champion Homes worth $4,949,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SKY. LPL Financial LLC raised its stake in Champion Homes by 11.6% in the fourth quarter. LPL Financial LLC now owns 3,685 shares of the company's stock valued at $325,000 after purchasing an additional 384 shares in the last quarter. Bank of Montreal Can raised its stake in Champion Homes by 131.8% in the fourth quarter. Bank of Montreal Can now owns 9,167 shares of the company's stock valued at $808,000 after purchasing an additional 5,212 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Champion Homes in the fourth quarter valued at about $6,453,000. Sterling Capital Management LLC raised its stake in Champion Homes by 645.5% in the fourth quarter. Sterling Capital Management LLC now owns 917 shares of the company's stock valued at $81,000 after purchasing an additional 794 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its stake in Champion Homes by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,613 shares of the company's stock valued at $495,000 after purchasing an additional 178 shares in the last quarter.

Insider Buying and Selling at Champion Homes

In related news, EVP Joseph A. Kimmell sold 1,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $65.24, for a total value of $65,240.00. Following the sale, the executive vice president directly owned 43,568 shares in the company, valued at $2,842,376.32. This represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays boosted their price target on Champion Homes from $72.00 to $74.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Zelman & Associates upgraded Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. Finally, Royal Bank Of Canada lifted their target price on Champion Homes from $82.00 to $85.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $86.00.

Champion Homes Trading Up 6.8%

Shares of NYSE:SKY traded up $4.8350 during midday trading on Friday, hitting $76.3050. 174,917 shares of the stock were exchanged, compared to its average volume of 647,504. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 20.23 and a beta of 1.13. 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 business's 50-day moving average price is $65.84 and its 200 day moving average price is $81.01. Champion Homes, Inc. has a 12 month low of $59.44 and a 12 month high of $116.49.

Champion Homes (NYSE:SKY - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.31. The company had revenue of $701.32 million for the quarter, compared to analysts' expectations of $642.18 million. Champion Homes had a return on equity of 14.35% and a net margin of 8.50%.The business's quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 earnings per share. Analysts predict that Champion Homes, Inc. will post 3.63 earnings per share for the current year.

Champion Homes announced that its Board of Directors has approved a stock buyback plan on Friday, May 30th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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.