New York State Common Retirement Fund Increases Stake in Champion Homes, Inc. (NYSE:SKY)

New York State Common Retirement Fund raised its holdings in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 117.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,299 shares of the company's stock after acquiring an additional 19,642 shares during the quarter. New York State Common Retirement Fund owned about 0.06% of Champion Homes worth $3,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Champion Homes by 17.3% in the fourth quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company's stock worth $523,578,000 after acquiring an additional 876,712 shares in the last quarter. Capital World Investors raised its stake in Champion Homes by 31.5% in the fourth quarter. Capital World Investors now owns 2,638,862 shares of the company's stock worth $232,484,000 after buying an additional 632,718 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Champion Homes by 17.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,646,482 shares of the company's stock valued at $145,055,000 after purchasing an additional 241,326 shares in the last quarter. Capital Research Global Investors bought a new position in shares of Champion Homes during the fourth quarter valued at approximately $98,978,000. Finally, Alliancebernstein L.P. increased its position in shares of Champion Homes by 4.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,027,194 shares of the company's stock valued at $90,496,000 after acquiring an additional 41,916 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Champion Homes Stock Performance

SKY stock traded up $0.68 during midday trading on Friday, hitting $65.22. 403,021 shares of the stock traded hands, compared to its average volume of 590,762. The firm has a market cap of $3.74 billion, a P/E ratio of 19.07 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.41 and a quick ratio of 1.61. The stock's fifty day simple moving average is $67.31 and its 200-day simple moving average is $83.82. Champion Homes, Inc. has a 1-year low of $59.44 and a 1-year high of $116.49.

Champion Homes (NYSE:SKY - Get Free Report) last posted its quarterly earnings results 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 return on equity of 13.61% and a net margin of 7.99%. The business had revenue of $593.87 million during the quarter, compared to analysts' expectations of $595.42 million. During the same period in the prior year, the business posted $0.62 earnings per share. The business's quarterly revenue was up .7% on a year-over-year basis. 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 has approved a stock repurchase plan on Friday, May 30th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

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.