Champion Homes (NYSE:SKY) Shares Gap Down – Here’s What Happened

Champion Homes, Inc. (NYSE:SKY) gapped down prior to trading on Monday . The stock had previously closed at $86.02, but opened at $83.21. Champion Homes shares last traded at $81.81, with a volume of 9,183 shares.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SKY shares. Barclays boosted their price objective on shares of Champion Homes from $94.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings cut Champion Homes from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 27th. Zacks Research downgraded Champion Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Royal Bank Of Canada dropped their price target on Champion Homes from $101.00 to $92.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. Finally, UBS Group started coverage on Champion Homes in a research note on Friday, June 5th. They issued a “buy” rating and a $93.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Champion Homes has an average rating of “Moderate Buy” and an average target price of $95.00.

Champion Homes Price Performance

The firm has a market capitalization of $4.53 billion, a PE ratio of 22.56 and a beta of 1.00. The firm’s fifty day moving average price is $78.34 and its 200 day moving average price is $81.68. The company has a current ratio of 2.48, a quick ratio of 1.69 and a debt-to-equity ratio of 0.01.

Champion Homes (NYSE:SKY) last issued its earnings results on Tuesday, May 26th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. The firm had revenue of $621.28 million during the quarter, compared to analysts’ expectations of $607.39 million. Champion Homes had a net margin of 7.77% and a return on equity of 13.80%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.65 earnings per share. As a group, equities analysts forecast that Champion Homes, Inc. will post 3.4 earnings per share for the current year.

Insider Activity

In other news, EVP Joseph A. Kimmell sold 7,922 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $75.70, for a total value of $599,695.40. Following the completion of the transaction, the executive vice president owned 36,118 shares of the company’s stock, valued at $2,734,132.60. The trade was a 17.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. UMB Bank n.a. lifted its holdings in Champion Homes by 78.9% in the fourth quarter. UMB Bank n.a. now owns 313 shares of the company’s stock valued at $26,000 after acquiring an additional 138 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Champion Homes during the 4th quarter worth approximately $26,000. Kestra Advisory Services LLC purchased a new position in shares of Champion Homes during the 4th quarter valued at approximately $26,000. Parallel Advisors LLC increased its holdings in shares of Champion Homes by 668.6% during the 1st quarter. Parallel Advisors LLC now owns 392 shares of the company’s stock valued at $29,000 after purchasing an additional 341 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Champion Homes during the 3rd quarter valued at approximately $35,000.

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.