Kennedy Capital Management LLC Reduces Position in Champion Homes, Inc. $SKY

Kennedy Capital Management LLC trimmed its position in shares of Champion Homes, Inc. (NYSE:SKY) by 6.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 178,728 shares of the company’s stock after selling 13,256 shares during the quarter. Kennedy Capital Management LLC’s holdings in Champion Homes were worth $11,190,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Champion Homes by 2.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 698,052 shares of the company’s stock valued at $66,147,000 after purchasing an additional 15,793 shares during the period. 111 Capital purchased a new position in Champion Homes in the 2nd quarter worth about $390,000. Driehaus Capital Management LLC lifted its holdings in Champion Homes by 1.9% during the 1st quarter. Driehaus Capital Management LLC now owns 387,439 shares of the company’s stock valued at $36,714,000 after buying an additional 7,178 shares in the last quarter. William Blair Investment Management LLC boosted its position in Champion Homes by 3.1% in the 2nd quarter. William Blair Investment Management LLC now owns 768,166 shares of the company’s stock valued at $48,095,000 after buying an additional 22,833 shares during the period. Finally, Citigroup Inc. boosted its position in Champion Homes by 15.5% in the 1st quarter. Citigroup Inc. now owns 125,657 shares of the company’s stock valued at $11,907,000 after buying an additional 16,876 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SKY shares. Barclays raised their target price on shares of Champion Homes from $74.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Royal Bank Of Canada upgraded Champion Homes from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $85.00 to $91.00 in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Champion Homes in a research report on Wednesday, October 8th. Zacks Research upgraded Champion Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Zelman & Associates upgraded Champion Homes from a “neutral” rating to an “outperform” rating in a research note on Friday, November 7th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $85.00.

Champion Homes Trading Down 1.4%

SKY opened at $83.41 on Friday. The stock has a fifty day moving average price of $76.13 and a 200-day moving average price of $71.94. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 21.66 and a beta of 1.06. The company has a current ratio of 2.60, a quick ratio of 1.77 and a debt-to-equity ratio of 0.02. Champion Homes, Inc. has a 12 month low of $59.44 and a 12 month high of $116.49.

Champion Homes (NYSE:SKY) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.20. Champion Homes had a return on equity of 14.36% and a net margin of 8.41%.The business had revenue of $684.43 million during the quarter, compared to the consensus estimate of $636.96 million. During the same quarter last year, the company earned $0.93 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts anticipate that Champion Homes, Inc. will post 3.63 earnings per share for the current fiscal year.

Insider Transactions at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 1,812 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $82.04, for a total value of $148,656.48. Following the completion of the transaction, the executive vice president owned 55,977 shares of the company’s stock, valued at approximately $4,592,353.08. This trade represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Champion Homes Profile

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.