Teacher Retirement System of Texas Sells 13,324 Shares of Champion Homes, Inc. (NYSE:SKY)

Teacher Retirement System of Texas trimmed its stake in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 42.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SKY. Harvest Fund Management Co. Ltd bought a new stake in shares of Champion Homes during the 4th quarter worth about $36,000. Sterling Capital Management LLC boosted its holdings in shares of Champion Homes by 645.5% during the 4th quarter. Sterling Capital Management LLC now owns 917 shares of the company's stock worth $81,000 after buying an additional 794 shares during the period. GAMMA Investing LLC boosted 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 buying an additional 765 shares during the period. Headlands Technologies LLC bought a new stake in shares of Champion Homes during the 4th quarter worth about $108,000. Finally, Global Trust Asset Management LLC bought a new stake in shares of Champion Homes during the 1st quarter worth about $128,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SKY. Zelman & Associates upgraded shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 5th. Barclays dropped their target price on shares of Champion Homes from $97.00 to $72.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 28th. Finally, Royal Bank Of Canada dropped their target price on shares of Champion Homes from $96.00 to $82.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 28th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $80.60.

Champion Homes Price Performance

Shares of Champion Homes stock traded down $1.32 on Friday, reaching $66.52. The stock had a trading volume of 533,328 shares, compared to its average volume of 614,178. Champion Homes, Inc. has a 1 year low of $59.44 and a 1 year high of $116.49. The company has a market cap of $3.81 billion, a P/E ratio of 19.45 and a beta of 1.16. The company has a current ratio of 2.41, a quick ratio of 1.61 and a debt-to-equity ratio of 0.02. The business's 50 day moving average is $72.27 and its two-hundred day moving average is $85.46.

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

Champion Homes declared that its Board of Directors has authorized a share buyback program 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

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.