Comerica Bank Purchases 19,377 Shares of Champion Homes, Inc. $SKY

Key Points

• Comerica Bank increased its stake in Champion Homes (NYSE:SKY) by 119.9%, buying 19,377 shares to hold 35,543 shares valued at about $3.00 million (0.06% ownership) at quarter-end.
• Champion Homes beat quarterly expectations with EPS of $0.96 vs. $0.83 expected and revenue of $656.61M vs. $649.40M, yet the stock was trading down roughly 5.8% around $72.45; market cap is about $4.01B with a P/E near 19.3.
• Analysts have a consensus rating of Moderate Buy with an average price target of $103.50, while an insider (EVP Joseph Kimmell) recently sold 2,880 shares and insiders now own about 1.20% of the company.

Comerica Bank lifted its position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 119.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,543 shares of the company's stock after purchasing an additional 19,377 shares during the quarter. Comerica Bank owned 0.06% of Champion Homes worth $3,003,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB lifted its position in shares of Champion Homes by 39.5% in the 3rd quarter. Nordea Investment Management AB now owns 164,340 shares of the company's stock worth $12,229,000 after purchasing an additional 46,516 shares during the period. Bryn Mawr Trust Advisors LLC purchased a new stake in shares of Champion Homes in the 3rd quarter worth about $1,050,000. Cramer Rosenthal Mcglynn LLC lifted its position in shares of Champion Homes by 7.5% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 663,870 shares of the company's stock worth $50,700,000 after purchasing an additional 46,555 shares during the period. Kingdon Capital Management L.L.C. purchased a new stake in shares of Champion Homes in the 3rd quarter worth about $11,456,000. Finally, Rhumbline Advisers lifted its position in shares of Champion Homes by 4.3% in the 3rd quarter. Rhumbline Advisers now owns 157,253 shares of the company's stock worth $12,009,000 after purchasing an additional 6,503 shares during the period.

Champion Homes Trading Down 5.8%

Shares of NYSE SKY opened at $72.45 on Tuesday. Champion Homes, Inc. has a 1 year low of $59.44 and a 1 year high of $99.17. The stock has a market cap of $4.01 billion, a P/E ratio of 19.27 and a beta of 1.07. The firm has a 50-day moving average of $80.34 and a 200 day moving average of $82.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.71 and a quick ratio of 1.89.

Champion Homes (NYSE:SKY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.13. Champion Homes had a net margin of 8.10% and a return on equity of 13.85%. The company had revenue of $656.61 million during the quarter, compared to analysts' expectations of $649.40 million. During the same period last year, the company posted $1.04 EPS. Champion Homes's revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts expect that Champion Homes, Inc. will post 3.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SKY has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Champion Homes in a research report on Monday, April 20th. Zelman & Associates cut shares of Champion Homes from an "outperform" rating to a "hold" rating in a research report on Thursday, February 5th. Royal Bank Of Canada reissued an "outperform" rating and set a $101.00 price target on shares of Champion Homes in a research report on Friday, January 9th. Finally, Barclays lowered their price target on shares of Champion Homes from $111.00 to $106.00 and set an "overweight" rating for the company in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $103.50.

Insider Transactions at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 2,880 shares of Champion Homes stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $82.25, for a total value of $236,880.00. Following the completion of the transaction, the executive vice president directly owned 51,297 shares of the company's stock, valued at approximately $4,219,178.25. The trade was a 5.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.20% of the company's stock.

About Champion Homes

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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