Analysts Set Champion Homes, Inc. (NYSE:SKY) Price Target at $80.60

Champion Homes, Inc. (NYSE:SKY - Get Free Report) has been assigned an average rating of "Hold" from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $80.60.

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada reduced their price target on Champion Homes from $96.00 to $82.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 28th. Zelman & Associates raised shares of Champion Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. Finally, Barclays reduced their price objective on shares of Champion Homes from $97.00 to $72.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th.

Champion Homes Stock Performance

NYSE SKY traded up $0.16 during trading hours on Monday, reaching $60.49. 625,549 shares of the company were exchanged, compared to its average volume of 596,916. The company has a quick ratio of 1.61, a current ratio of 2.41 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $3.47 billion, a P/E ratio of 17.69 and a beta of 1.19. Champion Homes has a 1 year low of $59.44 and a 1 year high of $116.49. The business's 50 day simple moving average is $78.31 and its 200-day simple moving average is $89.55.

Champion Homes (NYSE:SKY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). Champion Homes had a net margin of 7.99% and a return on equity of 13.61%. The firm had revenue of $593.87 million during the quarter, compared to analysts' expectations of $595.42 million. During the same quarter in the previous year, the company posted $0.62 EPS. Champion Homes's revenue for the quarter was up .7% on a year-over-year basis. On average, equities research analysts expect that Champion Homes will post 3.63 earnings per share for the current year.

Champion Homes announced that its board has authorized a share repurchase plan on Friday, May 30th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Capital Research Global Investors purchased a new position in Champion Homes during the 4th quarter valued at about $98,978,000. Vanguard Group Inc. raised its holdings in shares of Champion Homes by 17.3% during the fourth quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company's stock valued at $523,578,000 after acquiring an additional 876,712 shares in the last quarter. Norges Bank purchased a new stake in Champion Homes in the fourth quarter worth $69,346,000. Alliancebernstein L.P. boosted its holdings in Champion Homes by 67.1% in the first quarter. Alliancebernstein L.P. now owns 1,716,459 shares of the company's stock valued at $162,652,000 after acquiring an additional 689,265 shares in the last quarter. Finally, Capital World Investors increased its position in Champion Homes by 31.5% during the 4th quarter. Capital World Investors now owns 2,638,862 shares of the company's stock valued at $232,484,000 after purchasing an additional 632,718 shares during the period.

About Champion Homes

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.