Truist Financial Corp Grows Stake in Champion Homes, Inc. $SKY

Truist Financial Corp raised its stake in Champion Homes, Inc. (NYSE:SKY) by 30.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,630 shares of the company’s stock after purchasing an additional 1,312 shares during the quarter. Truist Financial Corp’s holdings in Champion Homes were worth $352,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. raised its position in Champion Homes by 67.1% in the first quarter. Alliancebernstein L.P. now owns 1,716,459 shares of the company’s stock valued at $162,652,000 after purchasing an additional 689,265 shares during the period. Goldman Sachs Group Inc. raised its position in Champion Homes by 63.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,007,639 shares of the company’s stock valued at $95,484,000 after purchasing an additional 392,159 shares during the period. Burgundy Asset Management Ltd. raised its position in Champion Homes by 6.8% in the first quarter. Burgundy Asset Management Ltd. now owns 812,204 shares of the company’s stock valued at $76,964,000 after purchasing an additional 51,853 shares during the period. Congress Asset Management Co. raised its position in Champion Homes by 11.2% in the second quarter. Congress Asset Management Co. now owns 735,854 shares of the company’s stock valued at $46,072,000 after purchasing an additional 74,276 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Champion Homes by 2.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 698,052 shares of the company’s stock valued at $66,147,000 after purchasing an additional 15,793 shares during the period.

Champion Homes Stock Down 0.3%

NYSE:SKY opened at $70.80 on Friday. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 18.83 and a beta of 1.16. Champion Homes, Inc. has a one year low of $59.44 and a one year high of $116.49. The stock has a 50-day simple moving average of $73.35 and a 200 day simple moving average of $73.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.59 and a current ratio of 2.39.

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

Insider Buying and Selling

In other Champion Homes news, EVP Joseph A. Kimmell sold 3,000 shares of Champion Homes 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 completion of the transaction, the executive vice president directly owned 44,568 shares in the company, valued at $2,942,825.04. The trade was a 6.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Royal Bank Of Canada raised their price objective on Champion Homes from $82.00 to $85.00 and gave the company a “sector perform” rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Champion Homes in a research report on Wednesday, October 8th. Barclays lifted their target price on 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, Zacks Research lowered Champion Homes from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $86.00.

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.