Champion Homes, Inc. $SKY Stock Holdings Raised by Bank of America Corp DE

Key Points

• Bank of America increased its Champion Homes stake by 8.9% in the first quarter, reaching 577,007 shares worth approximately $42.9 million. Several other institutional investors also made sizable purchases, including Wasatch Advisors and Marshall Wace.
• Analyst sentiment is positive, with a consensus “Moderate Buy” rating and an average price target of $104. UBS, Barclays and RBC recently raised their price targets, with UBS setting the highest at $115.
• Champion Homes exceeded quarterly expectations, reporting $0.88 in earnings per share and $710.2 million in revenue, up 1.3% year over year. Shares opened at $93.54, near their 52-week high, while insiders have sold 14,522 shares over the past 90 days.

Bank of America Corp DE grew its stake in Champion Homes, Inc. (NYSE:SKY - Free Report) by 8.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 577,007 shares of the company's stock after purchasing an additional 47,140 shares during the quarter. Bank of America Corp DE owned approximately 1.04% of Champion Homes worth $42,912,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Wasatch Advisors LP lifted its holdings in Champion Homes by 221.3% during the 1st quarter. Wasatch Advisors LP now owns 2,736,767 shares of the company's stock worth $203,533,000 after buying an additional 1,885,046 shares during the last quarter. Marshall Wace LLP lifted its stake in Champion Homes by 1,149.3% during the third quarter. Marshall Wace LLP now owns 1,397,642 shares of the company's stock worth $106,738,000 after purchasing an additional 1,285,768 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in Champion Homes during the fourth quarter worth $90,282,000. Bank of Montreal Can boosted its holdings in Champion Homes by 14,014.0% in the fourth quarter. Bank of Montreal Can now owns 826,232 shares of the company's stock worth $69,817,000 after purchasing an additional 820,378 shares during the period. Finally, Bamco Inc. NY bought a new stake in Champion Homes during the fourth quarter valued at $61,308,000.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SKY. Citigroup initiated coverage on shares of Champion Homes in a research note on Friday, June 5th. They set a "buy" rating and a $93.00 price objective on the stock. Weiss Ratings raised Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 7th. Barclays increased their price target on Champion Homes from $102.00 to $109.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Royal Bank Of Canada raised their price target on Champion Homes from $92.00 to $99.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Finally, UBS Group boosted their price objective on Champion Homes from $93.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $104.00.

Champion Homes Price Performance

Shares of NYSE:SKY opened at $93.54 on Thursday. The firm's 50 day moving average is $83.25 and its two-hundred day moving average is $80.96. Champion Homes, Inc. has a 52 week low of $63.69 and a 52 week high of $99.17. The firm has a market capitalization of $5.08 billion, a P/E ratio of 27.27 and a beta of 1.01. The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01.

Champion Homes (NYSE:SKY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%.The business had revenue of $710.23 million during the quarter, compared to the consensus estimate of $701.98 million. During the same period in the previous year, the firm posted $1.19 earnings per share. The business's revenue was up 1.3% on a year-over-year basis. Analysts anticipate that Champion Homes, Inc. will post 3.4 earnings per share for the current year.

Insider Buying and Selling

In other Champion Homes news, Director Michael B. Berman sold 1,500 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $93.22, for a total transaction of $139,830.00. Following the sale, the director directly owned 6,825 shares in the company, valued at approximately $636,226.50. The trade was a 18.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph A. Kimmell sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $75.91, for a total value of $303,640.00. Following the sale, the executive vice president directly owned 32,118 shares in the company, valued at approximately $2,438,077.38. The trade was a 11.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,522 shares of company stock valued at $1,147,665 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

Champion Homes 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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