Champion Homes (NYSE:SKY) Trading Down 9.1% – Here’s What Happened

Champion Homes, Inc. (NYSE:SKY) traded down 9.1% on Friday . The stock traded as low as $76.39 and last traded at $76.8030. 45,040 shares were traded during trading, a decline of 93% from the average session volume of 686,605 shares. The stock had previously closed at $84.46.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Champion Homes in a research report on Wednesday, January 21st. Zelman & Associates raised Champion Homes from a “neutral” rating to an “outperform” rating in a research note on Friday, November 7th. Zacks Research upgraded shares of Champion Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Royal Bank Of Canada reissued an “outperform” rating and set a $101.00 target price on shares of Champion Homes in a report on Friday, January 9th. Finally, CJS Securities raised shares of Champion Homes to a “strong-buy” rating in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Champion Homes presently has an average rating of “Moderate Buy” and an average target price of $106.00.

Champion Homes Price Performance

The company has a current ratio of 2.60, a quick ratio of 1.77 and a debt-to-equity ratio of 0.02. The business’s 50-day simple moving average is $87.79 and its two-hundred day simple moving average is $77.70. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 20.05 and a beta of 1.08.

Champion Homes (NYSE:SKY) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.20. Champion Homes had a net margin of 8.41% and a return on equity of 14.36%. The company had revenue of $684.43 million for the quarter, compared to analyst estimates of $636.96 million. During the same period in the prior year, the firm posted $0.93 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, research analysts expect that Champion Homes, Inc. will post 3.63 EPS for the current fiscal year.

Insider Transactions at Champion Homes

In related news, VP Timothy A. Burkhardt sold 12,183 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $87.41, for a total transaction of $1,064,916.03. Following the completion of the sale, the vice president owned 33,230 shares of the company’s stock, valued at $2,904,634.30. This trade represents a 26.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Joseph A. Kimmell sold 1,800 shares of Champion Homes stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $88.35, for a total value of $159,030.00. Following the completion of the sale, the executive vice president owned 54,177 shares of the company’s stock, valued at approximately $4,786,537.95. The trade was a 3.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 15,795 shares of company stock valued at $1,372,603. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust increased its stake in Champion Homes by 257.4% in the third quarter. Parkside Financial Bank & Trust now owns 386 shares of the company’s stock valued at $29,000 after purchasing an additional 278 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in Champion Homes in the 3rd quarter valued at about $30,000. Advisory Services Network LLC acquired a new position in Champion Homes during the 3rd quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd boosted its holdings in Champion Homes by 10,171.4% in the second quarter. Caitong International Asset Management Co. Ltd now owns 719 shares of the company’s stock worth $45,000 after acquiring an additional 712 shares in the last quarter. Finally, AdvisorNet Financial Inc acquired a new stake in Champion Homes in the third quarter valued at approximately $50,000.

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.