Handelsbanken Fonder AB Purchases 4,200 Shares of Champion Homes, Inc. (NYSE:SKY)

Handelsbanken Fonder AB raised its stake in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 27.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,400 shares of the company's stock after purchasing an additional 4,200 shares during the quarter. Handelsbanken Fonder AB's holdings in Champion Homes were worth $1,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Louisiana State Employees Retirement System bought a new stake in shares of Champion Homes during the 4th quarter worth $2,247,000. Van ECK Associates Corp lifted its position in Champion Homes by 21.8% in the 4th quarter. Van ECK Associates Corp now owns 40,108 shares of the company's stock worth $3,534,000 after buying an additional 7,184 shares during the last quarter. New York State Teachers Retirement System bought a new stake in Champion Homes in the 4th quarter worth approximately $1,048,000. Rhumbline Advisers boosted its stake in Champion Homes by 85.0% in the fourth quarter. Rhumbline Advisers now owns 151,781 shares of the company's stock worth $13,372,000 after buying an additional 69,756 shares in the last quarter. Finally, Congress Asset Management Co. grew its position in Champion Homes by 4.0% during the fourth quarter. Congress Asset Management Co. now owns 608,035 shares of the company's stock valued at $53,568,000 after acquiring an additional 23,594 shares during the last quarter.

Champion Homes Stock Up 0.4%

Shares of SKY stock traded up $0.26 during mid-day trading on Wednesday, hitting $60.59. The company's stock had a trading volume of 254,500 shares, compared to its average volume of 594,493. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.61 and a current ratio of 2.41. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 17.69 and a beta of 1.19. The business has a 50-day moving average price of $79.28 and a 200 day moving average price of $90.06. 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 released its quarterly earnings data on Tuesday, May 27th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.10). Champion Homes had a net margin of 7.99% and a return on equity of 13.61%. The company had revenue of $593.87 million for the quarter, compared to analysts' expectations of $595.42 million. During the same period in the previous year, the firm earned $0.62 earnings per share. The firm's revenue for the quarter was up .7% on a year-over-year basis. Research analysts predict that Champion Homes, Inc. will post 3.63 EPS for the current fiscal year.

Champion Homes announced that its Board of Directors has approved a share repurchase program on Friday, May 30th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

SKY has been the topic of several recent research reports. Barclays reduced their target price on shares of Champion Homes from $97.00 to $72.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 28th. Zelman & Associates upgraded shares of Champion Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. Finally, Royal Bank Of Canada decreased their price objective on shares of Champion Homes from $96.00 to $82.00 and set a "sector perform" rating for the company in a report on Wednesday, May 28th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Champion Homes has an average rating of "Hold" and an average target price of $80.60.

Champion Homes 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.