Champion Homes, Inc. $SKY Stake Boosted by California Public Employees Retirement System

Key Points

• Institutional ownership increased: CalPERS boosted its Champion Homes stake by 14.9% to 103,560 shares, while several other major funds—including Wasatch Advisors and Marshall Wace—also significantly expanded their positions.
• Quarterly results beat expectations: Champion Homes reported $0.68 in quarterly EPS versus the $0.63 consensus estimate, while revenue rose 15.2% year over year to $621.28 million.
• Analyst sentiment remains positive but mixed: The stock has a “Moderate Buy” consensus rating and an average price target of $95, though recent actions included both upgrades and downgrades. Shares opened at $81.58, and an executive separately sold 4,000 shares.

California Public Employees Retirement System boosted its stake in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 14.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,560 shares of the company's stock after purchasing an additional 13,435 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Champion Homes worth $7,702,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SKY. Wasatch Advisors LP lifted its holdings in Champion Homes by 221.3% in 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 during the period. Marshall Wace LLP grew its holdings in shares of Champion Homes by 1,149.3% in the 3rd quarter. Marshall Wace LLP now owns 1,397,642 shares of the company's stock worth $106,738,000 after acquiring an additional 1,285,768 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in Champion Homes in the 4th quarter worth about $90,282,000. Bank of Montreal Can lifted its stake in Champion Homes by 14,014.0% during the fourth quarter. Bank of Montreal Can now owns 826,232 shares of the company's stock valued at $69,817,000 after buying an additional 820,378 shares in the last quarter. Finally, Bamco Inc. NY acquired a new position in shares of Champion Homes in the fourth quarter worth about $61,308,000.

Insider Activity at Champion Homes

In related news, EVP Joseph A. Kimmell sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $75.91, for a total value of $303,640.00. Following the completion of the sale, the executive vice president owned 32,118 shares of the company's stock, valued at $2,438,077.38. This trade represents a 11.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.60% of the stock is owned by company insiders.

Champion Homes Price Performance

NYSE:SKY opened at $81.58 on Monday. The firm has a market cap of $4.48 billion, a PE ratio of 22.29 and a beta of 1.00. The company has a quick ratio of 1.69, a current ratio of 2.48 and a debt-to-equity ratio of 0.01. Champion Homes, Inc. has a 12 month low of $60.13 and a 12 month high of $99.17. The company's 50-day moving average price is $79.15 and its two-hundred day moving average price is $81.60.

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, topping analysts' consensus estimates of $0.63 by $0.05. The business had revenue of $621.28 million for the quarter, compared to analyst estimates of $607.39 million. Champion Homes had a return on equity of 13.80% and a net margin of 7.77%.Champion Homes's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 EPS. On average, equities analysts anticipate that Champion Homes, Inc. will post 3.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SKY shares. Weiss Ratings lowered Champion Homes from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, May 27th. Royal Bank Of Canada reduced their price objective on shares of Champion Homes from $101.00 to $92.00 and set an "outperform" rating for the company in a research note on Wednesday, May 27th. Barclays boosted their price objective on shares of Champion Homes from $94.00 to $102.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. Citigroup initiated coverage on Champion Homes in a research note on Friday, June 5th. They set a "buy" rating and a $93.00 target price for the company. Finally, Zacks Research downgraded shares of Champion Homes from a "hold" rating to a "strong sell" rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Champion Homes presently has a consensus rating of "Moderate Buy" and an average price target of $95.00.

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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