Champion Homes, Inc. $SKY Shares Purchased by Charles Schwab Investment Management Inc.

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. lifted its position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 698,052 shares of the company's stock after buying an additional 15,793 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.22% of Champion Homes worth $66,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. GAMMA Investing LLC increased its stake in Champion Homes by 306.0% during the 1st quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock worth $96,000 after buying an additional 765 shares during the period. Oppenheimer & Co. Inc. raised its stake in Champion Homes by 142.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 7,394 shares of the company's stock worth $701,000 after acquiring an additional 4,341 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Champion Homes by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 262,811 shares of the company's stock valued at $24,904,000 after purchasing an additional 5,887 shares during the period. New York State Teachers Retirement System grew its position in shares of Champion Homes by 3.4% during the first quarter. New York State Teachers Retirement System now owns 12,300 shares of the company's stock worth $1,166,000 after acquiring an additional 400 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Champion Homes by 4.3% in the first quarter. Bessemer Group Inc. now owns 244,149 shares of the company's stock valued at $23,136,000 after buying an additional 10,107 shares during the last quarter.

Analyst Ratings Changes

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

Insider Buying and Selling at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 1,000 shares of the firm'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 completion of the transaction, the executive vice president directly owned 43,568 shares of the company's stock, valued at $2,842,376.32. This trade represents a 2.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.20% of the company's stock.

Champion Homes Trading Up 2.1%

Shares of NYSE:SKY traded up $1.58 during trading on Tuesday, reaching $75.25. 142,944 shares of the stock were exchanged, compared to its average volume of 643,901. Champion Homes, Inc. has a 12-month low of $59.44 and a 12-month high of $116.49. The firm's 50-day moving average price is $65.43 and its 200 day moving average price is $81.26. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 20.08 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.

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

Champion Homes announced that its board has authorized a share buyback program on Friday, May 30th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

About Champion Homes

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.