Capital Research Global Investors Increases Position in Champion Homes, Inc. $SKY

Capital Research Global Investors increased its stake in shares of Champion Homes, Inc. (NYSE:SKY) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,762,378 shares of the company’s stock after buying an additional 19,784 shares during the quarter. Capital Research Global Investors owned about 3.16% of Champion Homes worth $134,593,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SKY. Parkside Financial Bank & Trust increased its holdings in shares of Champion Homes by 257.4% in the third quarter. Parkside Financial Bank & Trust now owns 386 shares of the company’s stock valued at $29,000 after purchasing an additional 278 shares during the period. Salomon & Ludwin LLC purchased a new position in Champion Homes in the 3rd quarter valued at $30,000. AdvisorNet Financial Inc acquired a new position in Champion Homes in the 3rd quarter valued at $50,000. Nisa Investment Advisors LLC raised its position in Champion Homes by 33.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 853 shares of the company’s stock worth $65,000 after buying an additional 215 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Champion Homes during the 2nd quarter worth $92,000.

Wall Street Analysts Forecast Growth

SKY has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Champion Homes in a research note on Wednesday, January 21st. CJS Securities upgraded Champion Homes to a “strong-buy” rating in a research report on Thursday, December 11th. Barclays boosted their target price 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. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $101.00 price target on shares of Champion Homes in a research note on Friday, January 9th. Finally, Zelman & Associates cut shares of Champion Homes from an “outperform” rating to a “hold” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Champion Homes currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Champion Homes Stock Down 0.6%

SKY stock opened at $78.61 on Thursday. 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 company’s 50 day simple moving average is $89.50 and its 200-day simple moving average is $82.01. Champion Homes, Inc. has a 12 month low of $59.44 and a 12 month high of $99.17. The firm has a market capitalization of $4.35 billion, a PE ratio of 20.91 and a beta of 1.02.

Champion Homes (NYSE:SKY) last posted its earnings results on Tuesday, February 3rd. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.13. Champion Homes had a return on equity of 13.85% and a net margin of 8.10%.The firm had revenue of $656.61 million for the quarter, compared to analyst estimates of $649.40 million. During the same quarter in the prior year, the company earned $1.04 EPS. Champion Homes’s revenue was up 1.8% on a year-over-year basis. Equities analysts expect that Champion Homes, Inc. will post 3.63 earnings per share for the current fiscal year.

Insider Transactions at Champion Homes

In other news, VP Timothy A. Burkhardt sold 12,183 shares of Champion Homes stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $87.41, for a total transaction of $1,064,916.03. Following the completion of the sale, the vice president directly owned 33,230 shares in the company, valued at $2,904,634.30. The trade was a 26.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joseph A. Kimmell sold 2,880 shares of the business’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 completion of the transaction, the executive vice president directly owned 51,297 shares of the company’s stock, valued at approximately $4,219,178.25. This represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.20% of the company’s stock.

Champion Homes 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.