Insider Selling: Champion Homes (NYSE:SKY) Director Sells 1,500 Shares

Key Points

• Director Michael Berman sold 1,500 Champion Homes shares at an average price of $93.22, generating $139,830 and reducing his direct stake by 18.02% to 6,825 shares.
• Champion Homes reported quarterly EPS of $0.88, slightly exceeding estimates, while revenue reached $710.23 million, up 1.3% year over year. The stock traded at $94.18, near its 52-week high.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $104.00; UBS and Barclays recently raised their targets to $115 and $109, respectively.

Champion Homes, Inc. (NYSE:SKY - Get Free Report) Director Michael Berman sold 1,500 shares of the business's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $93.22, for a total transaction of $139,830.00. Following the completion of the transaction, the director directly owned 6,825 shares in the company, valued at $636,226.50. This trade represents a 18.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Champion Homes Price Performance

SKY traded up $1.19 during trading on Tuesday, hitting $94.18. 502,874 shares of the company traded hands, compared to its average volume of 720,262. The company has a market cap of $5.11 billion, a PE ratio of 27.46 and a beta of 1.01. The stock's 50-day simple moving average is $82.41 and its two-hundred day simple moving average is $80.97. Champion Homes, Inc. has a 1 year low of $63.69 and a 1 year high of $99.17. The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01.

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

Analysts Set New Price Targets

SKY has been the subject of a number of research reports. Weiss Ratings raised Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday. UBS Group lifted their price objective on Champion Homes from $93.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Zelman & Associates raised Champion Homes from a "hold" rating to an "outperform" rating in a research note on Thursday, August 6th. Barclays upped their price objective on Champion Homes from $102.00 to $109.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Finally, Citigroup assumed coverage on Champion Homes in a research report on Friday, June 5th. They set a "buy" rating and a $93.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $104.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Champion Homes in the second quarter worth about $794,354,000. Wellington Management Group LLP raised its position in Champion Homes by 7.5% during the third quarter. Wellington Management Group LLP now owns 4,800,562 shares of the company's stock valued at $366,619,000 after purchasing an additional 333,666 shares during the period. Wasatch Advisors LP lifted its stake in shares of Champion Homes by 0.4% in the 2nd quarter. Wasatch Advisors LP now owns 2,747,516 shares of the company's stock valued at $242,111,000 after purchasing an additional 10,749 shares during the last quarter. State Street Corp lifted its stake in shares of Champion Homes by 4.0% in the 2nd quarter. State Street Corp now owns 2,579,091 shares of the company's stock valued at $161,477,000 after purchasing an additional 98,659 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Champion Homes by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,736,164 shares of the company's stock worth $129,111,000 after purchasing an additional 80,531 shares during the period.

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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