William Blair Investment Management LLC Acquires 22,833 Shares of Champion Homes, Inc. $SKY

Key Points

• William Blair Investment Management LLC has increased its stake in Champion Homes, Inc. by 3.1% during the second quarter, now owning approximately 768,166 shares valued at $48,095,000.
• Recent analyst ratings have been mixed, with Zacks Research downgrading the stock to "strong sell," while Barclays and Royal Bank Of Canada raised their price targets to $74.00 and $85.00, respectively.
• Champion Homes reported significantly better-than-expected earnings of $1.19 per share for the last quarter, exceeding the analysts' consensus estimate of $0.88, along with an 11.7% year-over-year revenue increase.

William Blair Investment Management LLC raised its holdings in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 768,166 shares of the company's stock after acquiring an additional 22,833 shares during the quarter. William Blair Investment Management LLC owned approximately 1.34% of Champion Homes worth $48,095,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SKY. GAMMA Investing LLC raised its holdings 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 acquiring an additional 765 shares during the period. Sowell Financial Services LLC bought a new stake in Champion Homes during the first quarter valued at about $233,000. Envestnet Portfolio Solutions Inc. raised its holdings in Champion Homes by 5.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,336 shares of the company's stock valued at $316,000 after acquiring an additional 172 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Champion Homes by 142.2% during the first quarter. Oppenheimer & Co. Inc. now owns 7,394 shares of the company's stock valued at $701,000 after acquiring an additional 4,341 shares during the period. Finally, Bessemer Group Inc. raised its holdings in Champion Homes by 4.3% during the first quarter. Bessemer Group Inc. now owns 244,149 shares of the company's stock valued at $23,136,000 after acquiring an additional 10,107 shares during the period.

Analyst Upgrades and Downgrades

SKY has been the topic of a number of recent analyst reports. Zacks Research cut Champion Homes from a "hold" rating to a "strong sell" rating in a report on Monday, October 6th. Weiss Ratings restated a "hold (c)" rating on shares of Champion Homes in a research report on Wednesday, October 8th. Barclays raised their price objective on Champion Homes from $72.00 to $74.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada raised their price objective on Champion Homes from $82.00 to $85.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $86.00.

Insider Buying and Selling

In related news, EVP Joseph A. Kimmell sold 3,000 shares of Champion Homes stock in a transaction dated Friday, August 8th. The stock was 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 owned 44,568 shares in the company, valued at approximately $2,942,825.04. This trade represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Champion Homes Trading Up 6.9%

Shares of Champion Homes stock opened at $75.73 on Friday. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 20.14 and a beta of 1.16. The business has a 50-day moving average price of $73.54 and a 200-day moving average price of $73.66. The company has a quick ratio of 1.59, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. Champion Homes, Inc. has a twelve month low of $59.44 and a twelve month high of $116.49.

Champion Homes (NYSE:SKY - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $701.32 million during the quarter, compared to analyst estimates of $642.18 million. Champion Homes had a return on equity of 14.35% and a net margin of 8.50%.The business's quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. Equities research analysts anticipate that Champion Homes, Inc. will post 3.63 EPS for the current fiscal year.

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.

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