Champion Homes (NYSE:SKY) Releases Earnings Results, Beats Estimates By $0.01 EPS

Champion Homes (NYSE:SKY) released its earnings results on Tuesday. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01, FiscalAI reports. The firm had revenue of $727.03 million during the quarter, compared to the consensus estimate of $719.71 million. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 earnings per share.

Champion Homes Stock Performance

SKY traded up $5.54 during trading on Wednesday, hitting $91.91. 441,869 shares of the stock were exchanged, compared to its average volume of 683,209. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $4.99 billion, a P/E ratio of 26.81 and a beta of 1.03. The stock has a fifty day moving average price of $83.85 and a two-hundred day moving average price of $82.47. Champion Homes has a 1-year low of $63.87 and a 1-year high of $99.17.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SKY shares. UBS Group raised their price target on shares of Champion Homes from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings raised shares of Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Royal Bank Of Canada dropped their target price on shares of Champion Homes from $99.00 to $94.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Zelman & Associates upgraded shares of Champion Homes from a “hold” rating to an “outperform” rating in a research report on Thursday, August 6th. Finally, Zacks Research raised shares of Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.75.

Insider Buying and Selling at Champion Homes

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

About Champion Homes

Champion Homes, Inc (NYSE:SKY) is a manufacturer of factory-built housing in the United States and Canada. The company designs and produces manufactured homes, modular homes and other residential structures in controlled factory environments, offering housing solutions for individual homeowners, developers, retailers and communities.

Its products include single-section and multi-section manufactured homes, modular homes, accessory dwelling units and park model recreational vehicles. Champion Homes markets its products through independent retailers, company-owned retail operations and other distribution channels, and also provides related construction and installation services in selected markets.

The company traces its heritage to the Skyline and Champion businesses, which combined in 2018 to form Skyline Champion Corporation.