Castleark Management LLC Makes New Investment in Champion Homes, Inc. $SKY

Castleark Management LLC bought a new stake in Champion Homes, Inc. (NYSE:SKY) during the second quarter, HoldingsChannel.com reports. The firm bought 45,670 shares of the company’s stock, valued at approximately $4,024,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Champion Homes during the second quarter worth about $794,354,000. Wasatch Advisors LP lifted its holdings in shares of Champion Homes by 221.3% in the first quarter. Wasatch Advisors LP now owns 2,736,767 shares of the company’s stock worth $203,533,000 after acquiring an additional 1,885,046 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Champion Homes by 1,149.3% in the 3rd quarter. Marshall Wace LLP now owns 1,397,642 shares of the company’s stock valued at $106,738,000 after purchasing an additional 1,285,768 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Champion Homes in the 4th quarter valued at approximately $90,282,000. Finally, Bank of Montreal Can grew its holdings in shares of Champion Homes by 14,014.0% during the 4th quarter. Bank of Montreal Can now owns 826,232 shares of the company’s stock valued at $69,817,000 after purchasing an additional 820,378 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SKY shares. UBS Group upped their price objective on shares of Champion Homes from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Barclays raised their target price on shares of Champion Homes from $102.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Zelman & Associates upgraded shares of Champion Homes from a “hold” rating to an “outperform” rating in a report on Thursday, August 6th. Royal Bank Of Canada increased their price target on Champion Homes from $92.00 to $99.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Citigroup initiated coverage on Champion Homes in a report on Friday, June 5th. They set a “buy” rating and a $93.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.00.

Champion Homes Stock Up 0.2%

Shares of SKY opened at $91.75 on Wednesday. The company has a market capitalization of $4.98 billion, a PE ratio of 26.75 and a beta of 1.01. Champion Homes, Inc. has a 12 month low of $63.69 and a 12 month high of $99.17. The stock’s 50-day moving average price is $85.94 and its two-hundred day moving average price is $81.52. The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01.

Champion Homes (NYSE:SKY) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.01. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%.The company had revenue of $710.23 million during the quarter, compared to analysts’ expectations of $701.98 million. During the same quarter in the prior year, the firm posted $1.19 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. On average, analysts anticipate that Champion Homes, Inc. will post 3.4 EPS for the current year.

Insider Activity at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $75.91, for a total transaction of $303,640.00. Following the completion of the sale, the executive vice president owned 32,118 shares of the company’s stock, valued at approximately $2,438,077.38. This represents a 11.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael B. Berman sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $93.22, for a total transaction of $139,830.00. Following the transaction, the director owned 6,825 shares of the company’s stock, valued at approximately $636,226.50. The trade was a 18.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 14,522 shares of company stock worth $1,147,665 over the last ninety days. Insiders own 0.60% of the company’s stock.

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.