United Services Automobile Association Makes New Investment in Champion Homes, Inc. $SKY

Key Points

• United Services Automobile Association has invested approximately $323,000 in Champion Homes, acquiring 3,437 shares, reflecting growing institutional interest in the company.
• Several analysts upgraded their ratings on Champion Homes, with price targets rising; Barclays increased its target to $74.00 while Royal Bank of Canada raised theirs to $85.00.
• Champion Homes reported strong quarterly earnings, with an EPS of $1.19, exceeding estimates by $0.31 and showcasing an 11.7% revenue increase compared to the previous year.

United Services Automobile Association bought a new position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 3,437 shares of the company's stock, valued at approximately $323,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SKY. AlphaQuest LLC grew its holdings in 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 acquiring an additional 788 shares in the last quarter. GAMMA Investing LLC grew its holdings in 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 in the last quarter. Global Trust Asset Management LLC bought a new position in Champion Homes during the 1st quarter worth about $128,000. Bosun Asset Management LLC bought a new position in Champion Homes during the 1st quarter worth about $208,000. Finally, PharVision Advisers LLC bought a new position in Champion Homes during the 4th quarter worth about $216,000.

Wall Street Analyst Weigh In

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

Champion Homes Stock Performance

Shares of Champion Homes stock traded down $0.13 during midday trading on Thursday, hitting $76.31. The company had a trading volume of 660,001 shares, compared to its average volume of 665,184. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 20.30 and a beta of 1.18. The company has a quick ratio of 1.59, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $70.70 and a 200 day simple moving average of $77.21. 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 announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.88 by $0.31. The firm had revenue of $701.32 million during the quarter, compared to analyst estimates of $642.18 million. Champion Homes had a net margin of 8.50% and a return on equity of 14.35%. Champion Homes's revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm posted $0.91 EPS. As a group, analysts predict that Champion Homes, Inc. will post 3.63 earnings per share for the current fiscal year.

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

Insider Activity at Champion Homes

In related news, EVP Joseph A. Kimmell sold 3,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $66.03, for a total value of $198,090.00. Following the completion of the transaction, the executive vice president directly owned 44,568 shares of the company's stock, valued at $2,942,825.04. This trade represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by insiders.

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.