Punch & Associates Investment Management Inc. Has $15.51 Million Position in Champion Homes, Inc. $SKY

Key Points

• Punch & Associates Investment Management Inc. increased its stake in Champion Homes, Inc. (NYSE:SKY) to approximately $15.51 million, making it the firm's 26th largest holding.
• Analysts have recently raised their target prices for Champion Homes, with Barclays upgrading it from $72.00 to $74.00 and Royal Bank of Canada lifting it to $85.00, while most analysts maintain a "Hold" rating.
• Champion Homes reported stronger-than-expected earnings of $1.19 EPS for the quarter, exceeding the consensus estimate and reflecting an 11.7% year-over-year revenue increase to $701.32 million.

Punch & Associates Investment Management Inc. lifted its stake in Champion Homes, Inc. (NYSE:SKY - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 163,635 shares of the company's stock after buying an additional 3,293 shares during the period. Champion Homes comprises 1.0% of Punch & Associates Investment Management Inc.'s portfolio, making the stock its 26th biggest holding. Punch & Associates Investment Management Inc. owned approximately 0.29% of Champion Homes worth $15,506,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in SKY. AlphaQuest LLC grew its holdings in shares of Champion Homes by 1,231.3% during the 1st quarter. AlphaQuest LLC now owns 852 shares of the company's stock worth $81,000 after purchasing an additional 788 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Champion Homes by 306.0% during the 1st quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock worth $96,000 after acquiring an additional 765 shares during the period. Global Trust Asset Management LLC acquired a new stake in shares of Champion Homes during the 1st quarter valued at about $128,000. Bosun Asset Management LLC bought a new stake in Champion Homes in the first quarter valued at about $208,000. Finally, PharVision Advisers LLC acquired a new position in Champion Homes in the fourth quarter worth about $216,000.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays boosted 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 note on Thursday, August 7th. Zelman & Associates raised shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, Royal Bank Of Canada lifted their target price on shares of Champion Homes from $82.00 to $85.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Champion Homes currently has an average rating of "Hold" and a consensus price target of $86.00.

Champion Homes Stock Down 0.5%

Shares of NYSE:SKY opened at $78.43 on Friday. Champion Homes, Inc. has a 52 week low of $59.44 and a 52 week high of $116.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.59 and a current ratio of 2.39. The company has a market capitalization of $4.43 billion, a PE ratio of 20.86 and a beta of 1.18. The company has a 50 day moving average price of $68.97 and a two-hundred day moving average price of $78.83.

Champion Homes (NYSE:SKY - Get Free Report) last issued its 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. Champion Homes had a net margin of 8.50% and a return on equity of 14.35%. The firm had revenue of $701.32 million during the quarter, compared to the consensus estimate of $642.18 million. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The business's quarterly revenue was up 11.7% on a year-over-year basis. Analysts forecast 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 authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Joseph A. Kimmell sold 1,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $65.24, for a total value of $65,240.00. Following the completion of the transaction, the executive vice president directly owned 43,568 shares in the company, valued at approximately $2,842,376.32. The trade was a 2.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company's stock.

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.

Want to see what other hedge funds are holding SKY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Champion Homes, Inc. (NYSE:SKY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.