Champion Homes, Inc. (NYSE:SKY) Given Average Recommendation of “Hold” by Brokerages

Shares of Champion Homes, Inc. (NYSE:SKY) have been given a consensus recommendation of “Hold” by the six analysts that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $80.60.

A number of research analysts recently weighed in on SKY shares. Royal Bank Of Canada reduced their price objective on shares of Champion Homes from $96.00 to $82.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 28th. Zelman & Associates upgraded shares of Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 5th. Finally, Barclays reduced their price objective on shares of Champion Homes from $97.00 to $72.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 28th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Kovitz Investment Group Partners LLC lifted its holdings in shares of Champion Homes by 2.7% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 5,514 shares of the company’s stock worth $523,000 after acquiring an additional 145 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Champion Homes by 5.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,336 shares of the company’s stock worth $316,000 after acquiring an additional 172 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Champion Homes by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,613 shares of the company’s stock worth $495,000 after acquiring an additional 178 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Champion Homes by 5.0% during the 1st quarter. Xponance Inc. now owns 4,048 shares of the company’s stock worth $384,000 after acquiring an additional 193 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Champion Homes by 3.6% during the 4th quarter. Two Sigma Advisers LP now owns 5,800 shares of the company’s stock worth $511,000 after acquiring an additional 200 shares during the last quarter.

Champion Homes Trading Up 0.9%

Shares of SKY stock opened at $65.42 on Tuesday. The company has a 50 day moving average of $64.55 and a 200-day moving average of $82.70. The company has a quick ratio of 1.61, a current ratio of 2.41 and a debt-to-equity ratio of 0.02. Champion Homes has a 12-month low of $59.44 and a 12-month high of $116.49. The firm has a market cap of $3.75 billion, a P/E ratio of 19.13 and a beta of 1.13.

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 the consensus estimate of $0.75 by ($0.10). Champion Homes had a return on equity of 13.61% and a net margin of 7.99%. The company had revenue of $593.87 million for the quarter, compared to analysts’ expectations of $595.42 million. During the same quarter in the previous year, the business earned $0.62 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. Sell-side analysts anticipate that Champion Homes will post 3.63 earnings per share for the current year.

Champion Homes declared that its Board of Directors has approved a stock buyback plan on Friday, May 30th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.