Royal Bank Of Canada Upgrades Champion Homes (NYSE:SKY) to “Outperform”

Champion Homes (NYSE:SKY) was upgraded by equities research analysts at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Thursday,Finviz reports. The brokerage presently has a $91.00 price target on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 23.79% from the company’s previous close.

A number of other research firms also recently commented on SKY. Weiss Ratings restated a “hold (c)” rating on shares of Champion Homes in a report on Wednesday, October 8th. Zacks Research upgraded Champion Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday. Finally, Barclays upped their price objective on Champion Homes from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Champion Homes presently has a consensus rating of “Hold” and an average target price of $82.50.

Champion Homes Price Performance

Shares of NYSE:SKY opened at $73.51 on Thursday. Champion Homes has a one year low of $59.44 and a one year high of $116.49. The stock has a market cap of $4.15 billion, a PE ratio of 19.55 and a beta of 1.16. The business’s fifty day moving average price is $73.26 and its two-hundred day moving average price is $72.56. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.59 and a current ratio of 2.39.

Champion Homes (NYSE:SKY) last released its quarterly earnings results on Tuesday, November 4th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.20. The company had revenue of $684.43 million during the quarter, compared to analysts’ expectations of $636.96 million. Champion Homes had a return on equity of 14.35% and a net margin of 8.50%.The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 earnings per share. On average, analysts forecast that Champion Homes will post 3.63 EPS for the current fiscal year.

Insider Transactions at Champion Homes

In related news, EVP Joseph A. Kimmell sold 1,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $65.24, for a total value of $65,240.00. Following the completion of the sale, the executive vice president directly owned 43,568 shares in the company, valued at approximately $2,842,376.32. This represents a 2.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Champion Homes

Several large investors have recently added to or reduced their stakes in SKY. Parkside Financial Bank & Trust boosted its position in Champion Homes by 257.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 386 shares of the company’s stock valued at $29,000 after buying an additional 278 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in Champion Homes in the 3rd quarter valued at about $30,000. Caitong International Asset Management Co. Ltd boosted its position in Champion Homes by 10,171.4% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 719 shares of the company’s stock valued at $45,000 after buying an additional 712 shares during the last quarter. Byrne Asset Management LLC purchased a new position in Champion Homes in the 2nd quarter valued at about $48,000. Finally, AdvisorNet Financial Inc purchased a new position in Champion Homes in the 3rd quarter valued at about $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.