Champion Homes, Inc. (NYSE:SKY) Receives $86.00 Average Price Target from Brokerages

Shares of Champion Homes, Inc. (NYSE:SKY) have earned a consensus recommendation of “Reduce” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $79.50.

A number of equities analysts recently commented on the company. Barclays increased their price objective on Champion Homes from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Zacks Research lowered shares of Champion Homes from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Royal Bank Of Canada increased their price target on shares of Champion Homes from $82.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Champion Homes in a research report on Wednesday, October 8th.

Champion Homes Stock Down 2.2%

Champion Homes stock opened at $64.69 on Tuesday. The firm has a market cap of $3.66 billion, a PE ratio of 17.20 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.59 and a current ratio of 2.39. The firm’s 50 day moving average price is $73.78 and its two-hundred day moving average price is $72.99. Champion Homes has a twelve month low of $59.44 and a twelve month high of $116.49.

Champion Homes (NYSE:SKY) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate 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 earned $0.91 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, research analysts predict that Champion Homes will post 3.63 EPS for the current fiscal year.

Insider Activity at Champion Homes

In other Champion Homes 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 transaction of $198,090.00. Following the transaction, the executive vice president owned 44,568 shares in the company, valued at $2,942,825.04. This trade represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Champion Homes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SKY. State Street Corp grew its stake in Champion Homes by 4.0% in the 2nd quarter. State Street Corp now owns 2,579,091 shares of the company’s stock valued at $161,477,000 after buying an additional 98,659 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Champion Homes by 6.3% in the second quarter. Thrivent Financial for Lutherans now owns 2,068,870 shares of the company’s stock valued at $129,532,000 after purchasing an additional 122,895 shares during the last quarter. American Century Companies Inc. grew its position in shares of Champion Homes by 50.8% in the second quarter. American Century Companies Inc. now owns 1,945,434 shares of the company’s stock valued at $121,804,000 after purchasing an additional 655,505 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Champion Homes by 67.1% in the 1st quarter. Alliancebernstein L.P. now owns 1,716,459 shares of the company’s stock valued at $162,652,000 after buying an additional 689,265 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Champion Homes by 11.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,319,362 shares of the company’s stock valued at $82,605,000 after buying an additional 139,021 shares during the last quarter.

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.