Fifth Third Bancorp Boosts Holdings in Champion Homes, Inc. $SKY

Key Points

• Fifth Third Bancorp increased its stake in Champion Homes by 750% in the first quarter, buying 33,954 additional shares and bringing its total holding to 38,481 shares worth about $2.86 million.
• Champion Homes recently posted strong quarterly results, with EPS of $0.68 beating estimates and revenue of $621.28 million topping expectations, while revenue rose 15.2% year over year.
• Analyst sentiment is generally positive, with a Moderate Buy consensus and an average price target of $95, though opinions remain mixed across firms.

Fifth Third Bancorp raised its holdings in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 750.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,481 shares of the company's stock after buying an additional 33,954 shares during the quarter. Fifth Third Bancorp owned about 0.07% of Champion Homes worth $2,862,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SKY. Wellington Management Group LLP boosted its stake in Champion Homes by 7.5% in the third quarter. Wellington Management Group LLP now owns 4,800,562 shares of the company's stock worth $366,619,000 after buying an additional 333,666 shares in the last quarter. Wasatch Advisors LP raised its position in Champion Homes by 221.3% during the 1st quarter. Wasatch Advisors LP now owns 2,736,767 shares of the company's stock valued at $203,533,000 after purchasing an additional 1,885,046 shares during the last quarter. State Street Corp lifted its holdings in Champion Homes by 4.0% in the 2nd quarter. State Street Corp now owns 2,579,091 shares of the company's stock worth $161,477,000 after buying an additional 98,659 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Champion Homes by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,655,633 shares of the company's stock worth $139,904,000 after buying an additional 125,114 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Champion Homes by 7.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,411,351 shares of the company's stock worth $107,785,000 after buying an additional 91,989 shares during the last quarter.

Champion Homes Stock Performance

Shares of SKY opened at $81.52 on Tuesday. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 22.27 and a beta of 1.00. The business's fifty day simple moving average is $78.07 and its two-hundred day simple moving average is $81.69. Champion Homes, Inc. has a 12 month low of $60.13 and a 12 month high of $99.17. The company has a current ratio of 2.48, a quick ratio of 1.69 and a debt-to-equity ratio of 0.01.

Champion Homes (NYSE:SKY - Get Free Report) last released its quarterly earnings data on Tuesday, May 26th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. The company had revenue of $621.28 million for the quarter, compared to analysts' expectations of $607.39 million. Champion Homes had a return on equity of 13.80% and a net margin of 7.77%.Champion Homes's revenue was up 15.2% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. Research analysts anticipate that Champion Homes, Inc. will post 3.4 earnings per share for the current fiscal year.

Insider Transactions at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 4,000 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $75.91, for a total transaction of $303,640.00. Following the completion of the sale, the executive vice president owned 32,118 shares of the company's stock, valued at approximately $2,438,077.38. The trade was a 11.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group started coverage on Champion Homes in a report on Friday, June 5th. They set a "buy" rating and a $93.00 target price for the company. Barclays upped their price objective on shares of Champion Homes from $94.00 to $102.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Zacks Research lowered shares of Champion Homes from a "hold" rating to a "strong sell" rating in a research note on Wednesday, May 27th. Royal Bank Of Canada reduced their price target on shares of Champion Homes from $101.00 to $92.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 27th. Finally, Citigroup started coverage on shares of Champion Homes in a research note on Friday, June 5th. They issued a "buy" rating and a $93.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Champion Homes currently has a consensus rating of "Moderate Buy" and an average price target of $95.00.

Champion Homes Profile

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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