HighTower Advisors LLC Buys 1,389 Shares of Champion Homes, Inc. $SKY

HighTower Advisors LLC increased its stake in Champion Homes, Inc. (NYSE:SKY) by 27.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,408 shares of the company’s stock after buying an additional 1,389 shares during the quarter. HighTower Advisors LLC’s holdings in Champion Homes were worth $607,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriprise Financial Inc. raised its position in Champion Homes by 17.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,646,482 shares of the company’s stock worth $145,055,000 after acquiring an additional 241,326 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Champion Homes by 2.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 698,052 shares of the company’s stock worth $66,147,000 after purchasing an additional 15,793 shares during the last quarter. Congress Asset Management Co. raised its holdings in shares of Champion Homes by 8.8% in the 1st quarter. Congress Asset Management Co. now owns 661,578 shares of the company’s stock valued at $62,691,000 after purchasing an additional 53,543 shares during the period. Northern Trust Corp lifted its stake in Champion Homes by 14.3% in the 4th quarter. Northern Trust Corp now owns 571,915 shares of the company’s stock valued at $50,386,000 after purchasing an additional 71,439 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC lifted its stake in Champion Homes by 30.4% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 527,770 shares of the company’s stock valued at $46,497,000 after purchasing an additional 123,097 shares during the last quarter.

Wall Street Analysts Forecast Growth

SKY has been the topic of a number of recent analyst reports. Zelman & Associates raised Champion Homes from a “strong sell” rating to a “hold” rating in a report on Thursday, June 5th. Barclays lifted their price objective on shares of Champion Homes from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada increased their price objective on shares of Champion Homes from $82.00 to $85.00 and gave the company a “sector perform” rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $86.00.

Insider Transactions at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 1,000 shares of Champion Homes stock in a transaction on Monday, August 11th. The stock was sold at an average price of $65.24, for a total value of $65,240.00. Following the completion of the transaction, the executive vice president directly owned 43,568 shares of the company’s stock, valued at $2,842,376.32. The trade was a 2.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.

Champion Homes Price Performance

Shares of Champion Homes stock opened at $75.49 on Friday. The company has a quick ratio of 1.59, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 20.08 and a beta of 1.13. Champion Homes, Inc. has a twelve month low of $59.44 and a twelve month high of $116.49. The company has a 50-day simple moving average of $67.56 and a two-hundred day simple moving average of $79.85.

Champion Homes (NYSE:SKY) last announced its earnings results on Tuesday, August 5th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.31. Champion Homes had a net margin of 8.50% and a return on equity of 14.35%. The firm had revenue of $701.32 million for the quarter, compared to analyst estimates of $642.18 million. During the same quarter in the prior year, the business posted $0.91 EPS. The business’s revenue was up 11.7% compared to the same quarter last year. Analysts forecast that Champion Homes, Inc. will post 3.63 EPS for the current year.

Champion Homes declared that its board has approved a share buyback plan on Friday, May 30th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership 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.