Champion Homes, Inc. (NYSE:SKY) Shares Bought by Citigroup Inc.

Key Points

• Citigroup Inc. increased its stake in Champion Homes by 15.5%, acquiring an additional 16,876 shares, bringing its total ownership to 125,657 shares valued at approximately $11.91 million.
• Recent analyst ratings saw Champion Homes upgraded from a "strong sell" to a "hold" by Zelman & Associates, while Royal Bank of Canada raised the target price from $82 to $85.
• The company reported an earnings beat in its last quarter with an EPS of $1.19, exceeding analyst estimates by $0.31, and revenue up 11.7% year-over-year.

Citigroup Inc. grew its holdings in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 15.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,657 shares of the company's stock after buying an additional 16,876 shares during the period. Citigroup Inc. owned 0.22% of Champion Homes worth $11,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Capital World Investors lifted its holdings in Champion Homes by 31.5% during the 4th quarter. Capital World Investors now owns 2,638,862 shares of the company's stock worth $232,484,000 after buying an additional 632,718 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Champion Homes by 17.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,646,482 shares of the company's stock worth $145,055,000 after buying an additional 241,326 shares during the last quarter. Capital Research Global Investors purchased a new stake in shares of Champion Homes in the 4th quarter valued at about $98,978,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Champion Homes by 2.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 698,052 shares of the company's stock valued at $66,147,000 after purchasing an additional 15,793 shares during the last quarter. Finally, Congress Asset Management Co. lifted its holdings in shares of Champion Homes by 8.8% in the 1st quarter. Congress Asset Management Co. now owns 661,578 shares of the company's stock valued at $62,691,000 after purchasing an additional 53,543 shares during the last quarter.

Champion Homes Stock Performance

SKY stock traded down $0.19 during trading on Friday, hitting $73.31. The company 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. Champion Homes, Inc. has a 1-year low of $59.44 and a 1-year high of $116.49. The firm has a 50-day moving average price of $65.26 and a 200-day moving average price of $81.47. The company has a quick ratio of 1.59, a current ratio of 2.39 and a debt-to-equity ratio of 0.02.

Champion Homes (NYSE:SKY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.31. The firm had revenue of $701.32 million for the quarter, compared to analysts' expectations of $642.18 million. Champion Homes had a return on equity of 14.35% and a net margin of 8.50%. 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 EPS. On average, analysts expect that Champion Homes, Inc. will post 3.63 earnings per share for the current year.

Champion Homes declared that its board has initiated a stock buyback program on Friday, May 30th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.

Insider Transactions at Champion Homes

In related news, EVP Joseph A. Kimmell sold 3,000 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $66.03, for a total value of $198,090.00. Following the transaction, the executive vice president owned 44,568 shares in the company, valued at $2,942,825.04. The trade was a 6.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.