Champion Homes (NYSE:SKY) Releases Earnings Results, Misses Expectations By $0.01 EPS

Champion Homes (NYSE:SKY) released its quarterly earnings data on Tuesday. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01), FiscalAI reports. The firm had revenue of $710.23 million during the quarter, compared to analysts’ expectations of $701.98 million. Champion Homes had a net margin of 7.16% and a return on equity of 12.50%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.19 earnings per share.

Champion Homes Trading Up 1.2%

Shares of NYSE SKY traded up $1.11 during midday trading on Thursday, reaching $92.27. 332,681 shares of the stock were exchanged, compared to its average volume of 719,428. The stock has a 50 day moving average price of $81.21 and a 200-day moving average price of $81.03. The company has a current ratio of 2.48, a quick ratio of 1.69 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $5.07 billion, a P/E ratio of 26.84 and a beta of 1.01. Champion Homes has a 52-week low of $63.69 and a 52-week high of $99.17.

Analyst Ratings Changes

Several research firms have recently issued reports on SKY. Zacks Research raised Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Weiss Ratings downgraded shares of Champion Homes from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 27th. Citigroup assumed coverage on shares of Champion Homes in a research report on Friday, June 5th. They set a “buy” rating and a $93.00 target price for the company. Royal Bank Of Canada upped their price target on shares of Champion Homes from $92.00 to $99.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Barclays increased their price target on shares of Champion Homes from $102.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.00.

Insider Transactions at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 4,000 shares of Champion Homes stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $75.91, for a total value of $303,640.00. Following the completion of the sale, the executive vice president directly owned 32,118 shares of the company’s stock, valued at approximately $2,438,077.38. The trade was a 11.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Champion Homes

Hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace LLP grew its holdings in Champion Homes by 1,149.3% in the third quarter. Marshall Wace LLP now owns 1,397,642 shares of the company’s stock valued at $106,738,000 after purchasing an additional 1,285,768 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Champion Homes in the 4th quarter valued at $90,282,000. Bank of Montreal Can boosted its holdings in shares of Champion Homes by 14,014.0% in the 4th quarter. Bank of Montreal Can now owns 826,232 shares of the company’s stock valued at $69,817,000 after purchasing an additional 820,378 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Champion Homes by 566.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 639,102 shares of the company’s stock valued at $54,004,000 after buying an additional 543,219 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Champion Homes by 150.6% during the 2nd quarter. Invesco Ltd. now owns 655,107 shares of the company’s stock worth $41,016,000 after buying an additional 393,686 shares during the last quarter.

About Champion Homes

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.