Champion Homes (NYSE:SKY) Stock Price Target Lowered at Royal Bank Of Canada

Champion Homes (NYSE:SKY) had its price target dropped by equities researchers at Royal Bank Of Canada from $99.00 to $94.00 in a report released on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 18.47% from the stock’s previous close.

Several other research firms also recently commented on SKY. Zacks Research raised Champion Homes from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 7th. Oppenheimer started coverage on shares of Champion Homes in a research report on Wednesday, September 30th. They set a “market perform” rating on the stock. UBS Group upped their price target on shares of Champion Homes from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. 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 note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.75.

Champion Homes Stock Up 4.5%

SKY stock traded up $3.44 during mid-day trading on Thursday, reaching $79.34. The company had a trading volume of 288,073 shares, compared to its average volume of 682,351. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.74 and a quick ratio of 1.97. The stock has a 50 day simple moving average of $87.26 and a two-hundred day simple moving average of $81.38. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 23.07 and a beta of 1.02. Champion Homes has a 52 week low of $63.87 and a 52 week high of $99.17.

Champion Homes (NYSE:SKY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.01. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%. The firm had revenue of $710.23 million for the quarter, compared to analyst estimates of $701.98 million. During the same quarter in the previous year, the firm earned $1.19 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, equities analysts predict that Champion Homes will post 3.40 earnings per share for the current fiscal year.

Insider Activity at Champion Homes

In other news, Director Michael Berman sold 1,500 shares of Champion Homes stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $93.22, for a total value of $139,830.00. Following the completion of the sale, the director directly owned 6,825 shares in the company, valued at approximately $636,226.50. The trade was a 18.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Erin Helgren sold 1,100 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $95.00, for a total value of $104,500.00. Following the transaction, the director owned 8,196 shares in the company, valued at approximately $778,620. This trade represents a 11.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. lifted its stake in Champion Homes by 16.8% during the first quarter. Assetmark Inc. now owns 1,000 shares of the company’s stock worth $74,000 after purchasing an additional 144 shares during the last quarter. Mirador Capital Partners LP grew its holdings in shares of Champion Homes by 0.3% during the second quarter. Mirador Capital Partners LP now owns 51,684 shares of the company’s stock worth $4,554,000 after purchasing an additional 178 shares during the last quarter. Bessemer Group Inc. increased its position in Champion Homes by 0.4% in the 1st quarter. Bessemer Group Inc. now owns 47,664 shares of the company’s stock valued at $3,544,000 after acquiring an additional 184 shares during the period. Versant Capital Management Inc increased its holdings in Champion Homes by 80.3% in the third quarter. Versant Capital Management Inc now owns 541 shares of the company’s stock valued at $46,000 after purchasing an additional 241 shares during the period. Finally, Central Pacific Bank Trust Division raised its position in shares of Champion Homes by 7.1% during the second quarter. Central Pacific Bank Trust Division now owns 5,113 shares of the company’s stock worth $451,000 after acquiring an additional 340 shares during the last quarter.

About Champion Homes

Champion Homes, Inc (NYSE:SKY) is a manufacturer of factory-built housing in North America. The company designs and produces manufactured and modular homes, along with park model recreational vehicles and other off-site construction products. Its homes are sold through independent and company-owned retailers, developers, and other housing channels.

The company’s products serve a range of residential needs, including affordable single-family housing, workforce housing, multifamily developments, accessory dwelling units, and disaster-recovery housing.