Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Holdings in Champion Homes, Inc. (NYSE:SKY)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Champion Homes, Inc. (NYSE:SKY) by 9.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,317 shares of the company’s stock after selling 928 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Champion Homes were worth $883,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SKY. LPL Financial LLC grew its holdings in Champion Homes by 11.6% during the 4th quarter. LPL Financial LLC now owns 3,685 shares of the company’s stock valued at $325,000 after buying an additional 384 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Champion Homes by 120.3% in the fourth quarter. JPMorgan Chase & Co. now owns 280,396 shares of the company’s stock valued at $24,703,000 after acquiring an additional 153,089 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Champion Homes by 21.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 8,653 shares of the company’s stock valued at $762,000 after acquiring an additional 1,508 shares during the last quarter. Wells Fargo & Company MN increased its position in Champion Homes by 6.1% during the 4th quarter. Wells Fargo & Company MN now owns 128,570 shares of the company’s stock worth $11,327,000 after purchasing an additional 7,415 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Champion Homes in the 4th quarter valued at about $472,000.

Analyst Upgrades and Downgrades

SKY has been the topic of several analyst reports. Barclays decreased their price target on shares of Champion Homes from $97.00 to $72.00 and set an “equal weight” rating on the stock 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 report on Thursday, June 5th. Finally, Royal Bank Of Canada lowered their target price 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. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $80.60.

Champion Homes Trading Up 1.4%

Shares of SKY stock opened at $66.38 on Wednesday. The firm’s 50-day simple moving average is $64.46 and its 200-day simple moving average is $82.59. 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, Inc. has a 1-year low of $59.44 and a 1-year high of $116.49. The firm has a market cap of $3.80 billion, a P/E ratio of 19.41 and a beta of 1.13.

Champion Homes (NYSE:SKY) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.31. Champion Homes had a net margin of 7.99% and a return on equity of 13.61%. The company had revenue of $701.32 million for the quarter, compared to the consensus estimate of $642.18 million. During the same quarter last year, the firm posted $0.91 earnings per share. Champion Homes’s revenue was up 11.7% on a year-over-year basis. As a group, equities analysts forecast that Champion Homes, Inc. will post 3.63 EPS for the current year.

Champion Homes announced that its Board of Directors has initiated a share buyback program on Friday, May 30th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

About Champion Homes

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.