Champion Homes, Inc. $SKY Shares Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. lifted its stake in shares of Champion Homes, Inc. (NYSE:SKY) by 0.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,939 shares of the company’s stock after purchasing an additional 692 shares during the period. Raymond James Financial Inc. owned approximately 0.13% of Champion Homes worth $7,006,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in Champion Homes by 306.0% during the 1st quarter. GAMMA Investing LLC now owns 1,015 shares of the company’s stock worth $96,000 after buying an additional 765 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of Champion Homes by 142.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 7,394 shares of the company’s stock valued at $701,000 after acquiring an additional 4,341 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Champion Homes by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 262,811 shares of the company’s stock valued at $24,904,000 after acquiring an additional 5,887 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Champion Homes by 3.4% in the 1st quarter. New York State Teachers Retirement System now owns 12,300 shares of the company’s stock worth $1,166,000 after purchasing an additional 400 shares during the period. Finally, Bessemer Group Inc. grew its position in Champion Homes by 4.3% during the 1st quarter. Bessemer Group Inc. now owns 244,149 shares of the company’s stock worth $23,136,000 after purchasing an additional 10,107 shares in the last quarter.

Champion Homes Price Performance

Shares of NYSE:SKY opened at $74.55 on Wednesday. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 19.83 and a beta of 1.18. Champion Homes, Inc. has a 1 year low of $59.44 and a 1 year high of $116.49. The company has a current ratio of 2.39, a quick ratio of 1.59 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $68.02 and a 200 day simple moving average of $79.22.

Champion Homes (NYSE:SKY) last issued its earnings results on Tuesday, August 5th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.31. Champion Homes had a return on equity of 14.35% and a net margin of 8.50%.The firm had revenue of $701.32 million for the quarter, compared to the consensus estimate of $642.18 million. During the same quarter in the previous year, the company posted $0.91 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts predict that Champion Homes, Inc. will post 3.63 earnings per share for the current fiscal year.

Champion Homes announced that its board has approved a stock buyback program on Friday, May 30th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SKY shares. Zelman & Associates raised Champion Homes from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 5th. Royal Bank Of Canada raised their price objective on Champion Homes from $82.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 7th. Finally, Barclays upped their target price on Champion Homes from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Champion Homes presently has an average rating of “Hold” and a consensus price target of $86.00.

Insider Buying and Selling

In related news, EVP Joseph A. Kimmell sold 3,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $66.03, for a total value of $198,090.00. Following the transaction, the executive vice president owned 44,568 shares in the company, valued at approximately $2,942,825.04. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Champion Homes 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.