Congress Asset Management Co. Has $46.07 Million Stock Holdings in Champion Homes, Inc. $SKY

Key Points

• Congress Asset Management Co. increased its stake in Champion Homes, owning approximately 1.28% of the company with stock holdings valued at $46.07 million.
• Champion Homes reported a quarterly EPS of $1.19, surpassing the consensus estimate of $0.88, and saw a year-over-year revenue increase of 11.7%.
• A stock buyback plan was initiated by Champion Homes, allowing the company to repurchase $50 million worth of shares, indicating potential undervaluation of its stock.

Congress Asset Management Co. grew its position in Champion Homes, Inc. (NYSE:SKY - Free Report) by 11.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 735,854 shares of the company's stock after purchasing an additional 74,276 shares during the quarter. Congress Asset Management Co. owned approximately 1.28% of Champion Homes worth $46,072,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SKY. Alliancebernstein L.P. raised its position in shares of Champion Homes by 67.1% in the first quarter. Alliancebernstein L.P. now owns 1,716,459 shares of the company's stock valued at $162,652,000 after purchasing an additional 689,265 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Champion Homes by 63.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,007,639 shares of the company's stock valued at $95,484,000 after purchasing an additional 392,159 shares during the period. Interval Partners LP bought a new position in shares of Champion Homes in the first quarter valued at approximately $14,849,000. Nuveen LLC bought a new position in shares of Champion Homes in the first quarter valued at approximately $13,736,000. Finally, Integrated Investment Consultants LLC raised its position in shares of Champion Homes by 134.4% in the first quarter. Integrated Investment Consultants LLC now owns 247,458 shares of the company's stock valued at $23,449,000 after purchasing an additional 141,904 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Royal Bank Of Canada upped their price target on Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Barclays boosted their target price on shares of 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 raised shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Champion Homes currently has an average rating of "Hold" and a consensus price target of $86.00.

Champion Homes Trading Up 2.0%

Shares of Champion Homes stock opened at $74.27 on Friday. The firm has a market capitalization of $4.20 billion, a PE ratio of 19.75 and a beta of 1.18. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.59. The company's fifty day moving average price is $71.79 and its two-hundred day moving average price is $76.25. Champion Homes, Inc. has a 52-week low of $59.44 and a 52-week high of $116.49.

Champion Homes (NYSE:SKY - Get Free Report) last announced 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 analyst estimates of $642.18 million. Champion Homes had a net margin of 8.50% and a return on equity of 14.35%. The business'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 EPS for the current year.

Champion Homes announced that its Board of Directors has initiated a stock buyback plan on Friday, May 30th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 1,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $65.24, for a total value of $65,240.00. Following the sale, the executive vice president owned 43,568 shares of the company's stock, valued at $2,842,376.32. The trade was a 2.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by company insiders.

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.

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