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

A number of other institutional investors and hedge funds have also modified their holdings of the business. AlphaQuest LLC boosted its stake in Champion Homes by 1,231.3% in the first quarter. AlphaQuest LLC now owns 852 shares of the company's stock valued at $81,000 after acquiring an additional 788 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Champion Homes by 306.0% in the 1st quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock valued at $96,000 after purchasing an additional 765 shares during the period. Global Trust Asset Management LLC bought a new position in shares of Champion Homes in the 1st quarter worth $128,000. Bosun Asset Management LLC acquired a new stake in shares of Champion Homes during the first quarter worth $208,000. Finally, PharVision Advisers LLC bought a new stake in Champion Homes in the fourth quarter valued at about $216,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on SKY shares. Royal Bank Of Canada raised their target price on Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a report 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, Barclays boosted their price objective 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. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $86.00.

Insiders Place Their Bets

In related news, EVP Joseph A. Kimmell sold 3,000 shares of the company's stock in a transaction 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 approximately $2,942,825.04. This represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company's stock.

Champion Homes Stock Up 0.7%

Shares of SKY traded up $0.55 on Monday, hitting $75.25. The company's stock had a trading volume of 502,106 shares, compared to its average volume of 643,431. The firm's fifty day moving average price is $70.10 and its 200-day moving average price is $77.37. Champion Homes, Inc. has a fifty-two week low of $59.44 and a fifty-two week high of $116.49. 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 firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 20.01 and a beta of 1.18.

Champion Homes (NYSE:SKY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $642.18 million. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The business's revenue was up 11.7% on a year-over-year basis. On average, equities research analysts expect that Champion Homes, Inc. will post 3.63 EPS for the current year.

Champion Homes announced that its Board of Directors has approved 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors 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.