Champion Homes (NYSE:SKY) Share Price Breaks Above 200 Day Moving Average - Here's Why

Key Points

• Champion Homes shares crossed above their 200-day moving average, reaching $85.97 before closing at $84.99 on Friday.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $102.75; UBS raised its target to $115.
• The company slightly exceeded quarterly expectations, reporting $0.88 in EPS and $710.23 million in revenue, though EPS declined from $1.19 a year earlier while revenue increased 1.3%.

Shares of Champion Homes, Inc. (NYSE:SKY - Get Free Report) crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $82.55 and traded as high as $85.97. Champion Homes shares last traded at $84.99, with a volume of 1,431,889 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Weiss Ratings upgraded shares of Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 7th. Zelman & Associates raised Champion Homes from a "hold" rating to an "outperform" rating in a report on Thursday, August 6th. Oppenheimer assumed coverage on Champion Homes in a report on Wednesday, September 30th. They set a "market perform" rating on the stock. UBS Group raised their price target on shares of Champion Homes from $93.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Zacks Research upgraded shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.75.

Champion Homes Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.74 and a quick ratio of 1.97. The business's fifty day moving average price is $83.98 and its 200 day moving average price is $82.55. The stock has a market cap of $4.61 billion, a P/E ratio of 24.78 and a beta of 1.02.

Champion Homes (NYSE:SKY - Get Free Report) last posted its 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 return on equity of 12.52% and a net margin of 7.16%. The business had revenue of $710.23 million during the quarter, compared to analysts' expectations of $701.98 million. During the same period in the previous year, the business earned $1.19 earnings per share. The firm's revenue was up 1.3% on a year-over-year basis. Sell-side analysts forecast that Champion Homes, Inc. will post 3.40 EPS for the current fiscal year.

Insider Buying and Selling at Champion Homes

In related news, Director Erin Helgren sold 1,100 shares of the business's 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 transaction, the director owned 8,196 shares in the company, valued at $778,620. The trade was a 11.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Berman sold 1,500 shares of Champion Homes stock in a transaction on Monday, August 10th. The shares were sold at an average price of $93.22, for a total value of $139,830.00. Following the sale, the director directly owned 6,825 shares of the company's stock, valued at approximately $636,226.50. This trade represents a 18.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Champion Homes

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC grew its stake in Champion Homes by 668.6% in the 1st quarter. Parallel Advisors LLC now owns 392 shares of the company's stock valued at $29,000 after acquiring an additional 341 shares during the period. Clearstead Trust LLC acquired a new position in Champion Homes during the 2nd quarter valued at approximately $44,000. Versant Capital Management Inc raised its holdings in shares of Champion Homes by 80.3% during the 3rd quarter. Versant Capital Management Inc now owns 541 shares of the company's stock valued at $46,000 after purchasing an additional 241 shares in the last quarter. Assetmark Inc. grew its position in Champion Homes by 16.8% in the first quarter. Assetmark Inc. now owns 1,000 shares of the company's stock valued at $74,000 after acquiring an additional 144 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Champion Homes in the second quarter valued at about $85,000.

About Champion Homes

Champion Homes, Inc NYSE: SKY is a manufacturer of factory-built housing in the United States and Canada. The company designs and produces manufactured homes, modular homes and other residential structures in controlled factory environments, offering housing solutions for individual homeowners, developers, retailers and communities.

Its products include single-section and multi-section manufactured homes, modular homes, accessory dwelling units and park model recreational vehicles. Champion Homes markets its products through independent retailers, company-owned retail operations and other distribution channels, and also provides related construction and installation services in selected markets.

The company traces its heritage to the Skyline and Champion businesses, which combined in 2018 to form Skyline Champion Corporation.

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