KBC Group NV Boosts Stake in Champion Homes, Inc. (NYSE:SKY)

KBC Group NV boosted its position in shares of Champion Homes, Inc. (NYSE:SKY) by 17.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,682 shares of the company’s stock after buying an additional 394 shares during the period. KBC Group NV’s holdings in Champion Homes were worth $254,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SKY. Bank of New York Mellon Corp grew its holdings in shares of Champion Homes by 80.7% in the fourth quarter. Bank of New York Mellon Corp now owns 351,060 shares of the company’s stock valued at $30,928,000 after purchasing an additional 156,757 shares in the last quarter. US Bancorp DE lifted its position in Champion Homes by 3,916.3% during the fourth quarter. US Bancorp DE now owns 9,117 shares of the company’s stock valued at $803,000 after purchasing an additional 8,890 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Champion Homes by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 682,259 shares of the company’s stock worth $60,107,000 after buying an additional 42,278 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Champion Homes by 9.8% in the 4th quarter. Victory Capital Management Inc. now owns 379,595 shares of the company’s stock worth $33,442,000 after buying an additional 33,971 shares during the last quarter. Finally, Atria Investments Inc raised its position in shares of Champion Homes by 5.7% during the 4th quarter. Atria Investments Inc now owns 3,726 shares of the company’s stock valued at $328,000 after buying an additional 202 shares in the last quarter.

Champion Homes Stock Down 0.9%

Shares of NYSE SKY opened at $66.91 on Friday. Champion Homes, Inc. has a 1 year low of $59.44 and a 1 year high of $116.49. The firm has a 50-day simple moving average of $74.30 and a two-hundred day simple moving average of $86.35. The company has a market cap of $3.83 billion, a P/E ratio of 19.56 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.41 and a quick ratio of 1.61.

Champion Homes (NYSE:SKY) last issued its quarterly earnings results on Tuesday, May 27th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The business had revenue of $593.87 million for the quarter, compared to the consensus estimate of $595.42 million. Champion Homes had a return on equity of 13.61% and a net margin of 7.99%. Champion Homes’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. Research analysts anticipate that Champion Homes, Inc. will post 3.63 earnings per share for the current year.

Champion Homes declared that its board has approved a share buyback program on Friday, May 30th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Royal Bank Of Canada dropped their price target on Champion Homes from $96.00 to $82.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 28th. Zelman & Associates raised Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 5th. Finally, Barclays cut their target price on Champion Homes from $97.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 28th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $80.60.

Champion Homes Company 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.