Champion Homes, Inc. (NYSE:SKY) Given Consensus Recommendation of “Reduce” by Brokerages

Champion Homes, Inc. (NYSE:SKY) has been given an average recommendation of “Reduce” by the five analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $79.50.

Several equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Champion Homes in a research note on Wednesday, October 8th. Barclays boosted their target price on shares of Champion Homes from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, August 7th. Zacks Research cut shares of Champion Homes from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Finally, Royal Bank Of Canada boosted their target price on shares of Champion Homes from $82.00 to $85.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th.

Champion Homes Stock Performance

Shares of NYSE SKY opened at $66.49 on Tuesday. The company has a current ratio of 2.39, a quick ratio of 1.59 and a debt-to-equity ratio of 0.02. Champion Homes has a 12 month low of $59.44 and a 12 month high of $116.49. The company has a 50 day simple moving average of $73.45 and a two-hundred day simple moving average of $72.66. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 17.68 and a beta of 1.16.

Champion Homes (NYSE:SKY) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.88 by $0.31. Champion Homes had a net margin of 8.50% and a return on equity of 14.35%. The business had revenue of $701.32 million during the quarter, compared to analysts’ expectations of $642.18 million. During the same period in the previous year, the business posted $0.91 EPS. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, analysts predict that Champion Homes will post 3.63 earnings per share for the current year.

Insider Activity

In related news, EVP Joseph A. Kimmell sold 3,000 shares of the business’s stock in a transaction on Friday, August 8th. The shares were 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 directly owned 44,568 shares in the company, valued at $2,942,825.04. The trade was a 6.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Champion Homes

Large investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust raised its position in Champion Homes by 257.4% during the third quarter. Parkside Financial Bank & Trust now owns 386 shares of the company’s stock worth $29,000 after acquiring an additional 278 shares during the period. Salomon & Ludwin LLC acquired a new position in Champion Homes during the third quarter worth $30,000. Caitong International Asset Management Co. Ltd raised its position in Champion Homes by 10,171.4% during the second quarter. Caitong International Asset Management Co. Ltd now owns 719 shares of the company’s stock worth $45,000 after acquiring an additional 712 shares during the period. Byrne Asset Management LLC acquired a new position in Champion Homes during the second quarter worth $48,000. Finally, AdvisorNet Financial Inc acquired a new position in Champion Homes during the third quarter worth $50,000.

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.