Champion Homes, Inc. (NYSE:SKY) Stock Has Average Target Price of $104.00 According to Analysts

Champion Homes, Inc. (NYSE:SKY) has received an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $104.00.

A number of research analysts recently commented on SKY shares. Barclays raised their price objective 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. Zelman & Associates raised Champion Homes from a “hold” rating to an “outperform” rating in a research note on Thursday, August 6th. Zacks Research upgraded Champion Homes from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Weiss Ratings raised Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada lifted their target price on Champion Homes from $92.00 to $99.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th.

Champion Homes Stock Performance

Shares of SKY stock opened at $75.61 on Monday. 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 business has a 50 day moving average of $87.26 and a two-hundred day moving average of $81.38. Champion Homes has a 52 week low of $63.87 and a 52 week high of $99.17. The company has a market cap of $4.10 billion, a P/E ratio of 22.04 and a beta of 1.02.

Champion Homes (NYSE:SKY) last issued its 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 period last year, the company earned $1.19 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, analysts anticipate that Champion Homes will post 3.40 EPS for the current year.

Insider Activity at Champion Homes

In other news, Director Erin Helgren sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $95.00, for a total transaction of $104,500.00. Following the sale, the director owned 8,196 shares in the company, valued at $778,620. The trade was a 11.83% decrease in their ownership of the stock. 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 that occurred on Monday, August 10th. The stock was sold at an average price of $93.22, for a total transaction of $139,830.00. Following the transaction, the director 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 disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SKY. Parallel Advisors LLC boosted its position in Champion Homes by 668.6% in the first quarter. Parallel Advisors LLC now owns 392 shares of the company’s stock valued at $29,000 after buying an additional 341 shares in the last quarter. Clearstead Trust LLC acquired a new position in Champion Homes in the second quarter valued at approximately $44,000. Versant Capital Management Inc lifted its stake 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 buying an additional 241 shares during the period. Assetmark Inc. boosted its position in shares of 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 in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Champion Homes during the 2nd quarter worth $85,000.

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.