Champion Homes (NYSE:SKY) Announces Quarterly Earnings Results

Champion Homes (NYSE:SKY) released its earnings results on Tuesday. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01), FiscalAI reports. The business had revenue of $710.23 million during the quarter, compared to analyst estimates of $701.98 million. Champion Homes had a net margin of 7.77% and a return on equity of 13.80%.

Champion Homes Stock Performance

SKY traded up $1.72 during trading hours on Tuesday, hitting $82.55. The company’s stock had a trading volume of 1,008,229 shares, compared to its average volume of 717,246. The company has a 50-day simple moving average of $80.64 and a 200 day simple moving average of $81.16. 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 firm has a market capitalization of $4.53 billion, a PE ratio of 22.55 and a beta of 1.01. Champion Homes has a fifty-two week low of $63.69 and a fifty-two week high of $99.17.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Citigroup started 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 on the stock. Barclays boosted their target price on Champion Homes from $94.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Zacks Research raised Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Weiss Ratings cut shares of Champion Homes from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 27th. Finally, UBS Group assumed coverage on shares of Champion Homes in a report on Friday, June 5th. They issued a “buy” rating and a $93.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $95.00.

Insider Transactions at Champion Homes

In other news, EVP Joseph A. Kimmell sold 7,922 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $75.70, for a total value of $599,695.40. Following the completion of the transaction, the executive vice president owned 36,118 shares of the company’s stock, valued at approximately $2,734,132.60. This represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 modified their holdings of the stock. Royal Bank of Canada increased its stake in Champion Homes by 66.1% during the 1st quarter. Royal Bank of Canada now owns 10,804 shares of the company’s stock valued at $1,024,000 after buying an additional 4,301 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Champion Homes in the 1st quarter worth approximately $294,000. Millennium Management LLC boosted its holdings in shares of Champion Homes by 712.0% in the first quarter. Millennium Management LLC now owns 70,029 shares of the company’s stock valued at $6,636,000 after acquiring an additional 61,405 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Champion Homes in the second quarter valued at approximately $408,000. Finally, Invesco Ltd. boosted its holdings in shares of Champion Homes by 150.6% in the second quarter. Invesco Ltd. now owns 655,107 shares of the company’s stock valued at $41,016,000 after acquiring an additional 393,686 shares in the last quarter.

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.