Charles Schwab Investment Management Inc. Has $66.15 Million Stake in Champion Homes, Inc. (NYSE:SKY)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Champion Homes by 2.3%, owning a total of 698,052 shares valued at approximately $66.1 million.
• Champion Homes reported $1.19 earnings per share, surpassing the analysts’ expected $0.88, with quarterly revenue rising 11.7% year-over-year to $701.32 million.
• Royal Bank Of Canada has raised its target price for Champion Homes from $82.00 to $85.00, while the stock currently holds a consensus rating of "Hold" with a price target of $86.00.

Charles Schwab Investment Management Inc. increased its position in Champion Homes, Inc. (NYSE:SKY - Free Report) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 698,052 shares of the company's stock after acquiring an additional 15,793 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.22% of Champion Homes worth $66,147,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC raised its holdings in Champion Homes by 645.5% in the 4th quarter. Sterling Capital Management LLC now owns 917 shares of the company's stock worth $81,000 after acquiring an additional 794 shares during the period. GAMMA Investing LLC raised its holdings in Champion Homes by 306.0% in the 1st quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock worth $96,000 after acquiring an additional 765 shares during the period. Global Trust Asset Management LLC bought a new position in shares of Champion Homes during the 1st quarter worth about $128,000. PharVision Advisers LLC bought a new position in shares of Champion Homes during the 4th quarter worth about $216,000. Finally, Sowell Financial Services LLC bought a new position in shares of Champion Homes during the 1st quarter worth about $233,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Zelman & Associates upgraded shares of Champion Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. Finally, Barclays boosted their price objective on shares of Champion Homes from $72.00 to $74.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Champion Homes presently has an average rating of "Hold" and an average target price of $86.00.

Insiders Place Their Bets

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

Champion Homes Price Performance

NYSE SKY traded down $0.19 on Friday, reaching $73.31. The company's stock had a trading volume of 974,496 shares, compared to its average volume of 688,303. The firm has a market cap of $4.14 billion, a PE ratio of 19.50 and a beta of 1.13. The business has a 50-day moving average price of $65.26 and a 200 day moving average price of $81.47. Champion Homes, Inc. has a 52 week low of $59.44 and a 52 week high of $116.49. 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 (NYSE:SKY - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.31. The business had revenue of $701.32 million for the quarter, compared to analysts' expectations of $642.18 million. Champion Homes had a net margin of 8.50% and a return on equity of 14.35%. The firm's revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. Sell-side analysts expect that Champion Homes, Inc. will post 3.63 EPS for the current year.

Champion Homes declared that its board has approved a share buyback plan on Friday, May 30th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are 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.