Champion Homes, Inc. $SKY is Cramer Rosenthal Mcglynn LLC's Largest Position

Key Points

• Cramer Rosenthal Mcglynn LLC reduced its holdings in Champion Homes, Inc. by 7.6%, making it the largest position in their portfolio.
• Champion Homes recently experienced a significant share repurchase plan, allowing the company to reacquire $50 million worth of its stock, indicating a belief that the stock is undervalued.
• Analysts have upgraded Champion Homes' rating, with a consensus target price now set at $86.00.

Cramer Rosenthal Mcglynn LLC lowered its holdings in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 7.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 553,730 shares of the company's stock after selling 45,567 shares during the quarter. Champion Homes accounts for 3.8% of Cramer Rosenthal Mcglynn LLC's portfolio, making the stock its biggest holding. Cramer Rosenthal Mcglynn LLC owned about 0.97% of Champion Homes worth $52,471,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SKY. AlphaQuest LLC lifted its holdings in shares of Champion Homes by 1,231.3% in the 1st quarter. AlphaQuest LLC now owns 852 shares of the company's stock worth $81,000 after buying an additional 788 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Champion Homes by 306.0% in 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. Global Trust Asset Management LLC purchased a new stake in shares of Champion Homes in the 1st quarter worth $128,000. PharVision Advisers LLC bought a new position in shares of Champion Homes in the 4th quarter worth $216,000. Finally, Sowell Financial Services LLC bought a new position in shares of Champion Homes in the 1st quarter worth $233,000.

Insider Transactions at Champion Homes

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

Champion Homes Stock Performance

Shares of SKY traded up $0.56 during mid-day trading on Friday, reaching $75.49. The company had a trading volume of 635,903 shares, compared to its average volume of 789,935. Champion Homes, Inc. has a 52-week low of $59.44 and a 52-week high of $116.49. The company has a quick ratio of 1.59, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $4.27 billion, a P/E ratio of 20.08 and a beta of 1.13. The stock has a 50 day moving average of $67.56 and a two-hundred day moving average of $79.85.

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, topping analysts' consensus estimates of $0.88 by $0.31. The company had revenue of $701.32 million for the quarter, compared to the consensus estimate of $642.18 million. Champion Homes had a return on equity of 14.35% and a net margin of 8.50%.Champion Homes's revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share. On average, analysts expect that Champion Homes, Inc. will post 3.63 earnings per share for the current year.

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

Analysts Set New Price Targets

Several research firms have recently commented on SKY. Barclays boosted their price target 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. Royal Bank Of Canada upped their target price on Champion Homes from $82.00 to $85.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Finally, Zelman & Associates raised 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 company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target 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.