Champion Homes, Inc. $SKY Shares Bought by Northern Trust Corp

Key Points

• Northern Trust Corp increased its holdings in Champion Homes, Inc. by 12.1%, now owning approximately 1.12% of the company worth $60.75 million.
• Champion Homes reported $1.19 EPS for the latest quarter, exceeding analysts' expectations and achieving a year-over-year revenue growth of 11.7%.
• The company has announced a $50 million share repurchase program, indicating potential confidence in its stock valuation from management.

Northern Trust Corp lifted its position in Champion Homes, Inc. (NYSE:SKY - Free Report) by 12.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 641,115 shares of the company's stock after buying an additional 69,200 shares during the period. Northern Trust Corp owned approximately 1.12% of Champion Homes worth $60,752,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC increased its holdings in Champion Homes by 2.7% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 5,514 shares of the company's stock worth $523,000 after acquiring an additional 145 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Champion Homes by 5.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,336 shares of the company's stock worth $316,000 after acquiring an additional 172 shares during the last quarter. Xponance Inc. boosted its position in Champion Homes by 5.0% during the first quarter. Xponance Inc. now owns 4,048 shares of the company's stock worth $384,000 after acquiring an additional 193 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of Champion Homes by 3.6% during the 4th quarter. Two Sigma Advisers LP now owns 5,800 shares of the company's stock valued at $511,000 after acquiring an additional 200 shares during the last quarter. Finally, Portside Wealth Group LLC boosted its position in shares of Champion Homes by 7.4% during the 1st quarter. Portside Wealth Group LLC now owns 3,567 shares of the company's stock valued at $314,000 after acquiring an additional 246 shares during the last quarter.

Insider Buying and Selling

In related news, EVP Joseph A. Kimmell sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $66.03, for a total transaction of $198,090.00. Following the transaction, the executive vice president directly owned 44,568 shares of the company's stock, valued at approximately $2,942,825.04. The trade was a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SKY shares. Zelman & Associates raised shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. Barclays upped their target price on shares of Champion Homes from $72.00 to $74.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada increased their price target on shares of Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Champion Homes presently has an average rating of "Hold" and an average price target of $86.00.

Champion Homes Stock Up 0.7%

Shares of SKY stock traded up $0.56 during trading hours on Monday, reaching $75.49. 635,903 shares of the stock were exchanged, compared to its average volume of 750,064. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.59. The firm has a market capitalization of $4.27 billion, a P/E ratio of 20.08 and a beta of 1.18. The business's fifty day moving average is $67.56 and its two-hundred day moving average is $79.48. Champion Homes, Inc. has a 12-month low of $59.44 and a 12-month high of $116.49.

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

Champion Homes declared that its Board of Directors has initiated a share buyback plan on Friday, May 30th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is 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.