Barclays Has Lowered Expectations for Champion Homes (NYSE:SKY) Stock Price

Champion Homes (NYSE:SKY) had its target price decreased by stock analysts at Barclays from $111.00 to $106.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 33.62% from the company’s current price.

A number of other research analysts have also recently weighed in on SKY. CJS Securities raised shares of Champion Homes to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Champion Homes in a research note on Wednesday, January 21st. Zelman & Associates cut shares of Champion Homes from an “outperform” rating to a “hold” rating in a research note on Thursday, February 5th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $101.00 target price on shares of Champion Homes in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.50.

Champion Homes Trading Up 0.9%

Shares of SKY opened at $79.33 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.71 and a quick ratio of 1.89. The firm has a 50 day simple moving average of $82.95 and a 200-day simple moving average of $81.90. Champion Homes has a 1-year low of $59.44 and a 1-year high of $99.17. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 21.10 and a beta of 1.11.

Champion Homes (NYSE:SKY) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.13. Champion Homes had a net margin of 8.10% and a return on equity of 13.85%. The business had revenue of $656.61 million during the quarter, compared to analysts’ expectations of $649.40 million. During the same period last year, the company posted $1.04 EPS. The company’s revenue was up 1.8% on a year-over-year basis. Equities analysts forecast that Champion Homes will post 3.63 EPS for the current fiscal year.

Insider Transactions at Champion Homes

In related news, EVP Joseph A. Kimmell sold 2,880 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $82.25, for a total transaction of $236,880.00. Following the sale, the executive vice president owned 51,297 shares in the company, valued at approximately $4,219,178.25. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Champion Homes

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of Champion Homes by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,800,562 shares of the company’s stock valued at $366,619,000 after purchasing an additional 333,666 shares during the last quarter. State Street Corp boosted its holdings in shares of 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 purchasing an additional 98,659 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Champion Homes by 6.3% in the 2nd 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. Capital Research Global Investors boosted its holdings in shares of Champion Homes by 1.1% in the 3rd quarter. Capital Research Global Investors now owns 1,762,378 shares of the company’s stock valued at $134,593,000 after purchasing an additional 19,784 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Champion Homes by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,655,633 shares of the company’s stock valued at $139,904,000 after purchasing an additional 125,114 shares during 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.