Horizon Investments LLC Takes Position in Champion Homes, Inc. $SKY

Key Points

• Horizon Investments LLC initiated a new position in Champion Homes (NYSE:SKY) in Q4, purchasing 17,028 shares valued at approximately $1.44 million.
• EPS beat: Champion Homes reported $0.96 EPS vs. $0.83 expected and $656.6M revenue vs. $649.4M, with a $4.2B market cap, a 20.22 PE, and a consensus analyst rating of Moderate Buy with a $103.50 target.
• Major institutions hold large stakes (Wellington 4.80M, State Street 2.58M, Capital Research 1.76M, Dimensional 1.53M, Ameriprise 1.41M shares); insiders own 1.20% and EVP Joseph Kimmell sold 2,880 shares, reducing his holding to 51,297 shares.

Horizon Investments LLC bought a new stake in Champion Homes, Inc. (NYSE:SKY - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 17,028 shares of the company's stock, valued at approximately $1,439,000.

Several other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in Champion Homes by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,800,562 shares of the company's stock valued at $366,619,000 after purchasing an additional 333,666 shares during the last quarter. State Street Corp raised its position in shares of Champion Homes by 4.0% in the second quarter. State Street Corp now owns 2,579,091 shares of the company's stock valued at $161,477,000 after purchasing an additional 98,659 shares during the period. Capital Research Global Investors lifted its stake in shares of Champion Homes by 1.1% during the 3rd quarter. Capital Research Global Investors now owns 1,762,378 shares of the company's stock worth $134,593,000 after buying an additional 19,784 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Champion Homes by 7.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,530,519 shares of the company's stock worth $116,877,000 after buying an additional 104,217 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Champion Homes by 7.0% during 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 period.

Insider Activity

In other news, EVP Joseph A. Kimmell sold 2,880 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $82.25, for a total transaction of $236,880.00. Following the sale, the executive vice president directly owned 51,297 shares of the company's stock, valued at approximately $4,219,178.25. This represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.20% of the company's stock.

Champion Homes Stock Up 4.3%

Shares of SKY opened at $76.03 on Thursday. The company has a current ratio of 2.71, a quick ratio of 1.89 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $4.20 billion, a PE ratio of 20.22 and a beta of 1.07. The firm's 50 day moving average is $79.47 and its 200-day moving average is $82.90. Champion Homes, Inc. has a 12 month low of $59.44 and a 12 month high of $99.17.

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, topping analysts' consensus estimates of $0.83 by $0.13. The business had revenue of $656.61 million for the quarter, compared to the consensus estimate of $649.40 million. Champion Homes had a return on equity of 13.85% and a net margin of 8.10%.The firm's quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.04 earnings per share. Equities research analysts forecast that Champion Homes, Inc. will post 3.8 EPS for the current year.

Analysts Set New Price Targets

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

Champion Homes Company 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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