Edgestream Partners L.P. Takes Position in Champion Homes, Inc. $SKY

Edgestream Partners L.P. acquired a new position in shares of Champion Homes, Inc. (NYSE:SKY) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,160 shares of the company’s stock, valued at approximately $1,387,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SKY. New York State Common Retirement Fund boosted its position in Champion Homes by 3.3% during the second quarter. New York State Common Retirement Fund now owns 37,499 shares of the company’s stock valued at $2,348,000 after acquiring an additional 1,200 shares during the last quarter. Norges Bank acquired a new position in shares of Champion Homes in the 2nd quarter valued at about $40,360,000. Hsbc Holdings PLC bought a new stake in shares of Champion Homes during the 2nd quarter valued at about $408,000. XTX Topco Ltd bought a new stake in shares of Champion Homes during the 2nd quarter valued at about $1,032,000. Finally, Prudential Financial Inc. grew its stake in Champion Homes by 6.4% during the second quarter. Prudential Financial Inc. now owns 54,924 shares of the company’s stock worth $3,439,000 after purchasing an additional 3,320 shares during the period.

Insider Activity at Champion Homes

In other news, EVP Joseph A. Kimmell sold 1,812 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $82.04, for a total value of $148,656.48. Following the transaction, the executive vice president owned 55,977 shares in the company, valued at $4,592,353.08. This trade represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Royal Bank Of Canada raised Champion Homes from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $85.00 to $91.00 in a research note on Thursday, November 6th. Barclays lifted their price objective on shares of Champion Homes from $74.00 to $79.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Champion Homes in a research note on Wednesday, October 8th. Zelman & Associates raised shares of Champion Homes from a “neutral” rating to an “outperform” rating in a research note on Friday, November 7th. Finally, Zacks Research upgraded shares of Champion Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Champion Homes has a consensus rating of “Hold” and an average target price of $85.00.

Champion Homes Stock Up 2.1%

Shares of NYSE SKY opened at $85.23 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.60 and a quick ratio of 1.77. The company has a 50-day moving average price of $76.35 and a 200-day moving average price of $71.91. The stock has a market capitalization of $4.76 billion, a P/E ratio of 22.14 and a beta of 1.06. Champion Homes, Inc. has a 1 year low of $59.44 and a 1 year high of $116.49.

Champion Homes (NYSE:SKY) last posted its earnings results on Tuesday, November 4th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.20. Champion Homes had a net margin of 8.41% and a return on equity of 14.36%. The company had revenue of $684.43 million for the quarter, compared to analyst estimates of $636.96 million. During the same quarter in the prior year, the business posted $0.93 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts forecast that Champion Homes, Inc. will post 3.63 EPS for the current fiscal year.

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.