Chico Wealth RIA Invests $313,000 in Champion Homes, Inc. $SKY

Key Points

• Chico Wealth RIA acquired 5,005 shares of Champion Homes, Inc. for approximately $313,000, making it the 24th largest holding in the fund's portfolio.
• Champion Homes recently reported an earnings per share (EPS) of $1.19, exceeding analysts' expectations of $0.88, with a revenue increase of 11.7% year-over-year.
• Brokerages upgraded Champion Homes' stock ratings, with price targets lifted to $85.00 by Royal Bank of Canada, indicating positive sentiment among analysts.

Chico Wealth RIA purchased a new stake in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,005 shares of the company's stock, valued at approximately $313,000. Champion Homes accounts for about 0.2% of Chico Wealth RIA's portfolio, making the stock its 24th biggest position.

A number of other institutional investors have also recently made changes to their positions in SKY. Byrne Asset Management LLC purchased a new position in shares of Champion Homes during the second quarter valued at about $48,000. AlphaQuest LLC grew its position in Champion Homes by 1,231.3% in the first quarter. AlphaQuest LLC now owns 852 shares of the company's stock worth $81,000 after acquiring an additional 788 shares in the last quarter. GAMMA Investing LLC grew its position in Champion Homes by 306.0% in the first quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock worth $96,000 after acquiring an additional 765 shares in the last quarter. Global Trust Asset Management LLC purchased a new position in Champion Homes in the first quarter worth about $128,000. Finally, Bosun Asset Management LLC purchased a new position in Champion Homes in the first quarter worth about $208,000.

Insiders Place Their Bets

In related news, EVP Joseph A. Kimmell sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $66.03, for a total transaction of $198,090.00. Following the completion of the sale, the executive vice president directly owned 44,568 shares in the company, valued at approximately $2,942,825.04. The trade was a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company's stock.

Champion Homes Stock Down 0.4%

NYSE:SKY traded down $0.28 during trading hours on Monday, reaching $74.13. The company's stock had a trading volume of 720,176 shares, compared to its average volume of 717,483. The company has a market capitalization of $4.19 billion, a P/E ratio of 19.72 and a beta of 1.18. Champion Homes, Inc. has a 12 month low of $59.44 and a 12 month high of $116.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.59 and a current ratio of 2.39. The stock has a 50 day moving average price of $71.02 and a two-hundred day moving average price of $76.57.

Champion Homes (NYSE:SKY - Get Free Report) last announced its quarterly earnings data 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. Champion Homes had a net margin of 8.50% and a return on equity of 14.35%. The firm had revenue of $701.32 million for the quarter, compared to analyst estimates of $642.18 million. During the same period in the previous year, the company earned $0.91 earnings per share. The business's quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts predict that Champion Homes, Inc. will post 3.63 EPS for the current fiscal year.

Champion Homes announced that its board has approved a share buyback plan on Friday, May 30th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Royal Bank Of Canada lifted their price target on Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Barclays boosted their target price 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. Finally, Zelman & Associates upgraded Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $86.00.

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.