Weiss Ratings Reiterates “Hold (C)” Rating for Champion Homes (NYSE:SKY)

Champion Homes (NYSE:SKY)‘s stock had its “hold (c)” rating reiterated by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

SKY has been the subject of several other research reports. Barclays raised their target price on Champion Homes from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. Royal Bank Of Canada raised their target price on 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, Zacks Research cut Champion Homes from a “hold” rating to a “strong sell” rating in a research note on Monday. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $86.00.

Champion Homes Trading Down 2.5%

NYSE SKY opened at $64.94 on Wednesday. The business has a 50 day simple moving average of $73.20 and a 200 day simple moving average of $74.89. Champion Homes has a one year low of $59.44 and a one year high of $116.49. The stock has a market capitalization of $3.67 billion, a P/E ratio of 17.27 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.59.

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

Insider Buying and Selling

In related news, EVP Joseph A. Kimmell sold 1,000 shares of Champion Homes stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $65.24, for a total transaction of $65,240.00. Following the transaction, the executive vice president owned 43,568 shares of the company’s stock, valued at $2,842,376.32. The trade was a 2.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. AdvisorNet Financial Inc purchased a new position in shares of Champion Homes during the third quarter valued at approximately $50,000. Vista Finance LLC purchased a new position in shares of Champion Homes during the third quarter valued at approximately $240,000. Assenagon Asset Management S.A. boosted its position in shares of Champion Homes by 168.6% during the third quarter. Assenagon Asset Management S.A. now owns 114,808 shares of the company’s stock valued at $8,768,000 after buying an additional 72,060 shares during the last quarter. Mirador Capital Partners LP boosted its position in shares of Champion Homes by 2.2% during the third quarter. Mirador Capital Partners LP now owns 48,743 shares of the company’s stock valued at $3,723,000 after buying an additional 1,043 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its position in shares of Champion Homes by 9.1% during the third quarter. Central Pacific Bank Trust Division now owns 5,153 shares of the company’s stock valued at $394,000 after buying an additional 429 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.