Champion Homes (NYSE:SKY) Announces Quarterly Earnings Results

Champion Homes (NYSE:SKY) issued its quarterly earnings data on Tuesday. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.01, FiscalAI reports. Champion Homes had a net margin of 6.84% and a return on equity of 12.17%. The firm had revenue of $727.03 million during the quarter, compared to the consensus estimate of $719.71 million. During the same period last year, the business posted $1.03 earnings per share. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year.

Champion Homes Price Performance

SKY stock traded down $3.73 during midday trading on Thursday, reaching $92.44. 238,405 shares of the stock were exchanged, compared to its average volume of 688,684. The company has a fifty day moving average price of $83.93 and a 200 day moving average price of $82.47. The stock has a market capitalization of $5.02 billion, a PE ratio of 27.43 and a beta of 1.03. Champion Homes has a 52 week low of $63.87 and a 52 week high of $99.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.74 and a quick ratio of 1.97.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SKY. Oppenheimer began coverage on Champion Homes in a research note on Wednesday, September 30th. They issued a “market perform” rating for the company. Barclays increased their price objective on Champion Homes from $102.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings raised Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 7th. Royal Bank Of Canada reduced their target price on shares of Champion Homes from $99.00 to $94.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Finally, Zelman & Associates upgraded shares of Champion Homes from a “hold” rating to an “outperform” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given 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 $102.75.

Insiders Place Their Bets

In other Champion Homes news, Director Erin Helgren sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $95.00, for a total transaction of $104,500.00. Following the completion of the transaction, the director owned 8,196 shares in the company, valued at approximately $778,620. This trade represents a 11.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Berman sold 1,500 shares of the stock in a transaction dated 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 directly owned 6,825 shares in the company, valued at $636,226.50. This trade represents a 18.02% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by insiders.

About Champion Homes

Champion Homes, Inc (NYSE:SKY) is a manufacturer of factory-built housing in the United States and Canada. The company designs and produces manufactured homes, modular homes and other residential structures in controlled factory environments, offering housing solutions for individual homeowners, developers, retailers and communities.

Its products include single-section and multi-section manufactured homes, modular homes, accessory dwelling units and park model recreational vehicles. Champion Homes markets its products through independent retailers, company-owned retail operations and other distribution channels, and also provides related construction and installation services in selected markets.

The company traces its heritage to the Skyline and Champion businesses, which combined in 2018 to form Skyline Champion Corporation.