Royal Bank Of Canada Issues Positive Forecast for Champion Homes (NYSE:SKY) Stock Price

Champion Homes (NYSE:SKY) had its target price raised by stock analysts at Royal Bank Of Canada from $94.00 to $99.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price target would suggest a potential upside of 6.43% from the company’s previous close.

Several other research analysts also recently commented on SKY. Weiss Ratings raised Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Zacks Research upgraded shares of Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Zelman & Associates raised shares of Champion Homes from a “hold” rating to an “outperform” rating in a report on Thursday, August 6th. 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. Finally, Oppenheimer started coverage on shares of Champion Homes in a research note on Wednesday, September 30th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Champion Homes currently has an average rating of “Moderate Buy” and a consensus target price of $104.25.

Champion Homes Stock Performance

NYSE SKY traded down $3.15 on Thursday, reaching $93.02. The stock had a trading volume of 430,591 shares, compared to its average volume of 689,309. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.74 and a quick ratio of 1.97. The company has a market cap of $5.05 billion, a P/E ratio of 27.59 and a beta of 1.03. The firm has a fifty day moving average of $83.93 and a two-hundred day moving average of $82.47. Champion Homes has a 1-year low of $63.87 and a 1-year high of $99.17.

Champion Homes (NYSE:SKY) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The business had revenue of $727.03 million for the quarter, compared to the consensus estimate of $719.71 million. Champion Homes had a return on equity of 12.17% and a net margin of 6.84%. During the same quarter in the prior year, the business posted $1.03 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that Champion Homes will post 3.40 EPS for the current year.

Insider Transactions at Champion Homes

In related news, Director Erin Helgren sold 1,100 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $95.00, for a total value of $104,500.00. Following the sale, the director owned 8,196 shares in the company, valued at $778,620. This represents a 11.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael B. Berman sold 1,500 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $93.22, for a total value of $139,830.00. Following the completion of the sale, the director directly owned 6,825 shares of the company’s stock, valued at approximately $636,226.50. This trade represents a 18.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC bought a new stake in Champion Homes in the second quarter worth about $1,142,000. Militia Capital Management LLC bought a new position in shares of Champion Homes during the 1st quarter valued at approximately $1,398,000. William Blair Investment Management LLC bought a new position in shares of Champion Homes during the 2nd quarter valued at approximately $35,030,000. Castleark Management LLC bought a new position in shares of Champion Homes during the 2nd quarter valued at approximately $4,024,000. Finally, Bank of America Corp DE purchased a new stake in shares of Champion Homes during the 2nd quarter worth approximately $52,406,000.

Champion Homes Company Profile

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.