Voya Investment Management LLC Boosts Stock Holdings in Champion Homes, Inc. $SKY

Key Points

• Voya Investment Management LLC increased its holdings in Champion Homes by 3.5%, bringing its total ownership to 565,132 shares, valued at approximately $53.5 million.
• Champion Homes' stock saw a significant boost in target prices from various brokerages, with Royal Bank of Canada raising its target from $82 to $85, indicating a positive outlook on the company's performance.
• The company recently reported $1.19 EPS for the quarter, exceeding analysts' expectations, alongside an 11.7% year-over-year revenue increase to $701.32 million.

Voya Investment Management LLC boosted its stake in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 565,132 shares of the company's stock after purchasing an additional 19,102 shares during the period. Voya Investment Management LLC owned about 0.99% of Champion Homes worth $53,552,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaQuest LLC lifted its position in Champion Homes by 1,231.3% during the first quarter. AlphaQuest LLC now owns 852 shares of the company's stock valued at $81,000 after purchasing an additional 788 shares during the period. GAMMA Investing LLC lifted its position in Champion Homes by 306.0% during the first 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 Champion Homes during the first quarter valued at approximately $128,000. Bosun Asset Management LLC bought a new position in Champion Homes during the first quarter valued at approximately $208,000. Finally, PharVision Advisers LLC bought a new position in Champion Homes during the fourth quarter valued at approximately $216,000.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barclays increased their price objective on shares of Champion Homes from $72.00 to $74.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Royal Bank Of Canada increased their price target on shares of Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Finally, Zelman & Associates upgraded shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. 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 company presently has an average rating of "Hold" and a consensus price target of $86.00.

Insider Activity at Champion Homes

In other news, EVP Joseph A. Kimmell sold 1,000 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $65.24, for a total transaction of $65,240.00. Following the sale, the executive vice president directly owned 43,568 shares in the company, valued at $2,842,376.32. This trade represents a 2.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

Champion Homes Price Performance

Shares of SKY stock traded up $0.21 on Thursday, hitting $76.65. 168,804 shares of the stock traded hands, compared to its average volume of 652,370. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 20.40 and a beta of 1.18. Champion Homes, Inc. has a 52 week low of $59.44 and a 52 week high of $116.49. The firm has a 50 day simple moving average of $70.53 and a two-hundred day simple moving average of $77.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.59.

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 for the quarter, compared to the consensus estimate of $642.18 million. Champion Homes had a net margin of 8.50% and a return on equity of 14.35%. The company's revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm earned $0.91 EPS. As a group, equities research analysts predict that Champion Homes, Inc. will post 3.63 earnings per share for the current fiscal year.

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

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.