Keeley Teton Advisors LLC Buys 5,050 Shares of Champion Homes, Inc. $SKY

Key Points

• Keeley Teton Advisors LLC increased its stake in Champion Homes, Inc. by 36.4%, holding 18,931 shares valued at approximately $1.79 million.
• Champion Homes reported a quarterly EPS of $1.19, surpassing the consensus estimate of $0.88, and a net margin of 8.50%.
• The company initiated a $50 million share repurchase program, indicating management's belief that its shares are undervalued.

Keeley Teton Advisors LLC increased its holdings in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 36.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,931 shares of the company's stock after buying an additional 5,050 shares during the quarter. Keeley Teton Advisors LLC's holdings in Champion Homes were worth $1,794,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Rafferty Asset Management LLC lifted its stake in Champion Homes by 5.0% in the 1st quarter. Rafferty Asset Management LLC now owns 37,504 shares of the company's stock valued at $3,554,000 after purchasing an additional 1,793 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of Champion Homes by 1,231.3% in the 1st quarter. AlphaQuest LLC now owns 852 shares of the company's stock valued at $81,000 after acquiring an additional 788 shares during the last quarter. CW Advisors LLC boosted its holdings in shares of Champion Homes by 0.8% during the 1st quarter. CW Advisors LLC now owns 98,791 shares of the company's stock valued at $9,361,000 after acquiring an additional 792 shares in the last quarter. Northern Trust Corp grew its position in Champion Homes by 12.1% during the 1st quarter. Northern Trust Corp now owns 641,115 shares of the company's stock worth $60,752,000 after acquiring an additional 69,200 shares during the last quarter. Finally, Burgundy Asset Management Ltd. grew its position in Champion Homes by 6.8% during the 1st quarter. Burgundy Asset Management Ltd. now owns 812,204 shares of the company's stock worth $76,964,000 after acquiring an additional 51,853 shares during the last quarter.

Champion Homes Trading Up 0.7%

Shares of NYSE SKY traded up $0.56 during midday trading on Monday, reaching $75.49. The stock had a trading volume of 635,903 shares, compared to its average volume of 750,064. The company's 50 day moving average price is $67.56 and its 200 day moving average price is $79.48. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.59 and a current ratio of 2.39. Champion Homes, Inc. has a twelve month low of $59.44 and a twelve month high of $116.49. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 20.08 and a beta of 1.18.

Champion Homes (NYSE:SKY - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.31. The business had revenue of $701.32 million during the quarter, compared to the consensus estimate of $642.18 million. Champion Homes had a net margin of 8.50% and a return on equity of 14.35%. Champion Homes's quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share. As a group, sell-side analysts expect that Champion Homes, Inc. will post 3.63 EPS for the current year.

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

Insider Activity

In related news, EVP Joseph A. Kimmell sold 3,000 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $66.03, for a total transaction of $198,090.00. Following the sale, the executive vice president owned 44,568 shares in the company, valued at $2,942,825.04. This represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Royal Bank Of Canada increased 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. Barclays lifted 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 upgraded shares of Champion Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $86.00.

Champion Homes Company 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.