North Star Investment Management Corp. Trims Stake in Champion Homes, Inc. (NYSE:SKY)

North Star Investment Management Corp. lessened its stake in Champion Homes, Inc. (NYSE:SKY - Free Report) by 40.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,500 shares of the company's stock after selling 6,480 shares during the quarter. North Star Investment Management Corp.'s holdings in Champion Homes were worth $900,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SKY. Bank of New York Mellon Corp grew its holdings in shares of Champion Homes by 80.7% in the fourth quarter. Bank of New York Mellon Corp now owns 351,060 shares of the company's stock valued at $30,928,000 after acquiring an additional 156,757 shares in the last quarter. XTX Topco Ltd bought a new stake in Champion Homes during the fourth quarter worth $712,000. Van ECK Associates Corp boosted its position in Champion Homes by 21.8% in the fourth quarter. Van ECK Associates Corp now owns 40,108 shares of the company's stock worth $3,534,000 after purchasing an additional 7,184 shares during the last quarter. GAMMA Investing LLC grew its stake in Champion Homes by 38,372.4% in the 1st quarter. GAMMA Investing LLC now owns 96,181 shares of the company's stock valued at $9,114,000 after purchasing an additional 95,931 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Champion Homes by 16.4% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 473,940 shares of the company's stock valued at $44,909,000 after purchasing an additional 66,835 shares during the period.

Champion Homes Price Performance

SKY traded up $0.16 during trading on Thursday, reaching $60.49. 625,549 shares of the company were exchanged, compared to its average volume of 596,916. Champion Homes, Inc. has a 12-month low of $59.44 and a 12-month high of $116.49. The company's 50-day moving average is $78.76 and its two-hundred day moving average is $89.85. The company has a quick ratio of 1.61, a current ratio of 2.41 and a debt-to-equity ratio of 0.02. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 17.69 and a beta of 1.19.

Champion Homes (NYSE:SKY - Get Free Report) last announced 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 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 the consensus estimate of $595.42 million. During the same quarter in the prior year, the company earned $0.62 earnings per share. The company's quarterly revenue was up .7% on a year-over-year basis. Research analysts forecast that Champion Homes, Inc. will post 3.63 earnings per share for the current fiscal year.

Champion Homes announced that its board has initiated a stock buyback program on Friday, May 30th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SKY. Royal Bank Of Canada reduced their price objective on Champion Homes from $96.00 to $82.00 and set a "sector perform" rating for the company in a report on Wednesday, May 28th. Barclays cut their price target on Champion Homes from $97.00 to $72.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. Finally, Zelman & Associates raised Champion Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target 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.