Royal Bank Of Canada Upgrades Champion Homes (NYSE:SKY) to “Outperform”

Champion Homes (NYSE:SKY) was upgraded by analysts at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday,Finviz reports. The brokerage presently has a $91.00 price target on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 23.79% from the stock’s previous close.

A number of other research firms have also recently weighed in on SKY. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Champion Homes in a report on Wednesday, October 8th. Barclays upped their price target on Champion Homes from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Finally, Zacks Research raised Champion Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Champion Homes has an average rating of “Hold” and a consensus price target of $82.50.

Champion Homes Stock Up 10.5%

Champion Homes stock opened at $73.51 on Thursday. Champion Homes has a fifty-two week low of $59.44 and a fifty-two week high of $116.49. 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 company has a market cap of $4.15 billion, a PE ratio of 19.55 and a beta of 1.16. The business’s 50-day simple moving average is $73.26 and its two-hundred day simple moving average is $72.56.

Champion Homes (NYSE:SKY) last issued its earnings results on Tuesday, November 4th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.20. Champion Homes had a return on equity of 14.35% and a net margin of 8.50%.The firm had revenue of $684.43 million for the quarter, compared to the consensus estimate of $636.96 million. During the same quarter in the prior year, the business earned $0.93 earnings per share. The company’s revenue was up 11.0% compared to the same quarter last year. Equities analysts anticipate that Champion Homes will post 3.63 EPS for the current year.

Insider Activity at Champion Homes

In other news, EVP Joseph A. Kimmell sold 3,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. New York State Teachers Retirement System raised its stake in Champion Homes by 3.4% in the first quarter. New York State Teachers Retirement System now owns 12,300 shares of the company’s stock valued at $1,166,000 after buying an additional 400 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Champion Homes by 14.2% during the first quarter. Envestnet Asset Management Inc. now owns 27,680 shares of the company’s stock worth $2,623,000 after purchasing an additional 3,450 shares in the last quarter. Xponance Inc. increased its position in shares of Champion Homes by 5.0% during the first quarter. Xponance Inc. now owns 4,048 shares of the company’s stock worth $384,000 after purchasing an additional 193 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Champion Homes by 117.9% during the first quarter. New York State Common Retirement Fund now owns 36,299 shares of the company’s stock worth $3,440,000 after buying an additional 19,642 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in shares of Champion Homes by 25.5% during the first quarter. Verdence Capital Advisors LLC now owns 4,364 shares of the company’s stock worth $414,000 after buying an additional 887 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.