Invesco Ltd. Has $24.77 Million Position in Champion Homes, Inc. $SKY

Key Points

• Invesco Ltd. sold 51,041 shares of Champion Homes, reducing its stake in the company by 16.3%, now owning approximately 261,421 shares worth $24.77 million.
• Several institutions, including Ameriprise Financial and SG Capital Management, increased their holdings in Champion Homes significantly during the last quarter.
• Analysts have raised their price targets for Champion Homes, with the average target now at $86.00, indicating a generally favorable outlook on the stock.

Invesco Ltd. trimmed its position in Champion Homes, Inc. (NYSE:SKY - Free Report) by 16.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 261,421 shares of the company's stock after selling 51,041 shares during the period. Invesco Ltd. owned approximately 0.46% of Champion Homes worth $24,772,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SKY. Ameriprise Financial Inc. lifted its position in shares of Champion Homes by 17.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,646,482 shares of the company's stock valued at $145,055,000 after acquiring an additional 241,326 shares during the last quarter. SG Capital Management LLC lifted its position in shares of Champion Homes by 80.1% during the 4th quarter. SG Capital Management LLC now owns 340,512 shares of the company's stock valued at $29,999,000 after acquiring an additional 151,488 shares during the last quarter. Integrated Investment Consultants LLC lifted its position in shares of Champion Homes by 134.4% during the 1st quarter. Integrated Investment Consultants LLC now owns 247,458 shares of the company's stock valued at $23,449,000 after acquiring an additional 141,904 shares during the last quarter. Summit Partners Public Asset Management LLC lifted its position in shares of Champion Homes by 30.4% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 527,770 shares of the company's stock valued at $46,497,000 after acquiring an additional 123,097 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Champion Homes during the 4th quarter valued at $8,833,000.

Champion Homes Stock Up 6.5%

NYSE:SKY traded up $4.6160 during trading hours on Friday, hitting $76.0860. 813,635 shares of the stock traded hands, compared to its average volume of 778,067. The firm has a 50 day moving average price of $66.14 and a 200 day moving average price of $80.89. The company has a current ratio of 2.39, a quick ratio of 1.59 and a debt-to-equity ratio of 0.02. Champion Homes, Inc. has a fifty-two week low of $59.44 and a fifty-two week high of $116.49. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 19.97 and a beta of 1.13.

Champion Homes (NYSE:SKY - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $1.19 earnings per share (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 company had revenue of $701.32 million for the quarter, compared to the consensus estimate of $642.18 million. During the same period in the previous year, the business earned $0.91 EPS. The company's revenue was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Champion Homes, Inc. will post 3.63 earnings per share for the current year.

Champion Homes announced that its Board of Directors has initiated a stock buyback program on Friday, May 30th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Insider Transactions at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 1,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $65.24, for a total transaction of $65,240.00. Following the sale, the executive vice president directly owned 43,568 shares of the company's stock, valued at $2,842,376.32. The trade was a 2.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barclays increased their price objective on Champion Homes from $72.00 to $74.00 and gave the company an "equal weight" rating in a research report 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 increased their price objective 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 given a Hold rating to the company's stock. Based on data from MarketBeat.com, Champion Homes currently has an average rating of "Hold" and a consensus price target of $86.00.

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.