Champion Homes (NYSE:SKY) Trading Down 9.1% – Here’s What Happened

Champion Homes, Inc. (NYSE:SKY) fell 9.1% on Friday . The company traded as low as $76.39 and last traded at $76.8030. 45,040 shares were traded during mid-day trading, a decline of 93% from the average session volume of 686,605 shares. The stock had previously closed at $84.46.

Analyst Ratings Changes

SKY has been the topic of a number of recent research reports. Zelman & Associates upgraded Champion Homes from a “neutral” rating to an “outperform” rating in a research note on Friday, November 7th. Zacks Research raised shares of Champion Homes from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $101.00 target price on shares of Champion Homes in a report on Friday, January 9th. Barclays increased their price target on shares of Champion Homes from $100.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Champion Homes in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Champion Homes Stock Performance

The company has a fifty day moving average price of $87.72 and a two-hundred day moving average price of $77.88. 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 market capitalization of $4.37 billion, a P/E ratio of 20.32 and a beta of 1.08.

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

Insider Buying and Selling at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 1,800 shares of Champion Homes stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $88.35, for a total transaction of $159,030.00. Following the transaction, the executive vice president directly owned 54,177 shares of the company’s stock, valued at approximately $4,786,537.95. The trade was a 3.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Timothy A. Burkhardt sold 12,183 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $87.41, for a total value of $1,064,916.03. Following the completion of the sale, the vice president directly owned 33,230 shares of the company’s stock, valued at approximately $2,904,634.30. The trade was a 26.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 15,795 shares of company stock worth $1,372,603. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Champion Homes

Hedge funds and other institutional investors have recently bought and sold shares of the company. 111 Capital acquired a new stake in shares of Champion Homes in the 2nd quarter valued at about $390,000. William Blair Investment Management LLC boosted its holdings in Champion Homes by 3.1% in the second quarter. William Blair Investment Management LLC now owns 768,166 shares of the company’s stock worth $48,095,000 after acquiring an additional 22,833 shares in the last quarter. Third Avenue Management LLC acquired a new stake in Champion Homes in the second quarter valued at approximately $3,748,000. Congress Asset Management Co. increased its holdings in shares of Champion Homes by 25.5% during the third quarter. Congress Asset Management Co. now owns 923,465 shares of the company’s stock valued at $70,525,000 after acquiring an additional 187,611 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Champion Homes by 39.5% during the third quarter. Nordea Investment Management AB now owns 164,340 shares of the company’s stock valued at $12,229,000 after acquiring an additional 46,516 shares in the last quarter.

Champion Homes Company Profile

Champion Homes, traded under the NYSE ticker SKY, operates as a leading provider of factory-built housing solutions in North America. The company specializes in the design, manufacture and sale of manufactured and modular homes, serving a broad spectrum of customers from first-time homebuyers to those seeking upscale residential properties. Champion Homes leverages vertically integrated operations to streamline production, ensuring consistent quality and cost efficiencies across its product lines.

The company’s product portfolio encompasses single- and multi-section modular homes, manufactured home models, park models and select commercial modular buildings.