Champion Homes, Inc. (NYSE:SKY) Stake Lowered by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its stake in Champion Homes, Inc. (NYSE:SKY - Free Report) by 42.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,150 shares of the company's stock after selling 13,324 shares during the period. Teacher Retirement System of Texas' holdings in Champion Homes were worth $1,720,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Capital Research Global Investors bought a new position in Champion Homes during the fourth quarter valued at about $98,978,000. Vanguard Group Inc. grew its position in shares of Champion Homes by 17.3% during the 4th quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company's stock worth $523,578,000 after buying an additional 876,712 shares during the period. Norges Bank acquired a new position in Champion Homes in the fourth quarter valued at about $69,346,000. Capital World Investors boosted its position in shares of Champion Homes by 31.5% during the fourth quarter. Capital World Investors now owns 2,638,862 shares of the company's stock worth $232,484,000 after purchasing an additional 632,718 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Champion Homes by 17.2% during the 4th 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.

Champion Homes Stock Performance

Champion Homes stock traded down $1.79 during midday trading on Tuesday, reaching $64.23. 221,822 shares of the company traded hands, compared to its average volume of 612,282. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 18.82 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. Champion Homes, Inc. has a 12 month low of $59.44 and a 12 month high of $116.49. The business has a 50 day moving average of $71.83 and a two-hundred day moving average of $85.23.

Champion Homes (NYSE:SKY - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $0.65 earnings per share (EPS) 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 firm had revenue of $593.87 million during the quarter, compared to the consensus estimate of $595.42 million. During the same period last year, the firm posted $0.62 earnings per share. The company's revenue for the quarter was up .7% compared to the same quarter last year. As a group, research analysts predict that Champion Homes, Inc. will post 3.63 earnings per share for the current year.

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

Wall Street Analyst Weigh In

SKY has been the subject of a number of recent research reports. Barclays reduced their price objective on shares of 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. Zelman & Associates raised Champion Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. Finally, Royal Bank Of Canada dropped their price target on Champion Homes from $96.00 to $82.00 and set a "sector perform" rating for the company in a research note on Wednesday, May 28th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $80.60.

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.