Wasatch Advisors LP Purchases 10,749 Shares of Champion Homes, Inc. $SKY

Key Points

• Wasatch Advisors increased its Champion Homes stake by 10,749 shares in the second quarter, bringing its holdings to 2.75 million shares valued at approximately $242.1 million, or 5.01% of the company.
• Analysts remain generally positive, with UBS and RBC raising price targets and Zelman upgrading the stock to “outperform.” Champion Homes carries a “Moderate Buy” consensus rating and an average target price of $104.
• Champion Homes reported quarterly EPS of $0.88, slightly above estimates, while revenue reached $710.2 million and rose 1.3% year over year. Shares opened at $94.18, near the company’s one-year high of $99.17.

Wasatch Advisors LP increased its position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,747,516 shares of the company's stock after purchasing an additional 10,749 shares during the period. Champion Homes makes up 1.6% of Wasatch Advisors LP's portfolio, making the stock its 15th largest holding. Wasatch Advisors LP owned about 5.01% of Champion Homes worth $242,111,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in Champion Homes by 66.1% in the first quarter. Royal Bank of Canada now owns 10,804 shares of the company's stock worth $1,024,000 after purchasing an additional 4,301 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Champion Homes during the first quarter valued at approximately $294,000. Millennium Management LLC grew its stake in shares of Champion Homes by 712.0% during the first quarter. Millennium Management LLC now owns 70,029 shares of the company's stock valued at $6,636,000 after buying an additional 61,405 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Champion Homes during the second quarter valued at approximately $408,000. Finally, Invesco Ltd. raised its holdings in shares of Champion Homes by 150.6% in the second quarter. Invesco Ltd. now owns 655,107 shares of the company's stock worth $41,016,000 after buying an additional 393,686 shares during the period.

Insiders Place Their Bets

In other Champion Homes news, Director Erin Claire Helgren sold 1,100 shares of Champion Homes stock in a transaction on Friday, August 7th. The stock was sold at an average price of $95.00, for a total transaction of $104,500.00. Following the completion of the sale, the director directly owned 8,196 shares of the company's stock, valued at $778,620. The trade was a 11.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Joseph A. Kimmell sold 7,922 shares of the company's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $75.70, for a total value of $599,695.40. Following the completion of the sale, the executive vice president owned 36,118 shares of the company's stock, valued at $2,734,132.60. This represents a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 14,522 shares of company stock worth $1,147,665 in the last ninety days. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. UBS Group raised their price target on Champion Homes from $93.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings raised Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday. Citigroup initiated coverage on Champion Homes in a research note on Friday, June 5th. They issued a "buy" rating and a $93.00 target price on the stock. Royal Bank Of Canada lifted their target price on Champion Homes from $92.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Finally, Zelman & Associates raised shares of Champion Homes from a "hold" rating to an "outperform" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $104.00.

Champion Homes Stock Performance

Shares of NYSE:SKY opened at $94.18 on Wednesday. The firm has a market cap of $5.11 billion, a PE ratio of 27.46 and a beta of 1.01. The firm's 50 day simple moving average is $82.83 and its 200-day simple moving average is $80.96. Champion Homes, Inc. has a one year low of $63.69 and a one year high of $99.17. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 2.74.

Champion Homes (NYSE:SKY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.01. The firm had revenue of $710.23 million during the quarter, compared to analyst estimates of $701.98 million. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%.Champion Homes's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.19 earnings per share. As a group, equities analysts predict that Champion Homes, Inc. will post 3.4 EPS for the current year.

Champion Homes Company Profile

Champion Homes, traded under the NYSE ticker SKY, operates as a leading provider of factory-built housing solutions in North America. The company specializes in the design, manufacture and sale of manufactured and modular homes, serving a broad spectrum of customers from first-time homebuyers to those seeking upscale residential properties. Champion Homes leverages vertically integrated operations to streamline production, ensuring consistent quality and cost efficiencies across its product lines.

The company's product portfolio encompasses single- and multi-section modular homes, manufactured home models, park models and select commercial modular buildings.

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