Oppenheimer Asset Management Inc. Takes $3.61 Million Position in Champion Homes, Inc. $SKY

Oppenheimer Asset Management Inc. purchased a new position in shares of Champion Homes, Inc. (NYSE:SKY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,986 shares of the company’s stock, valued at approximately $3,612,000.

Other hedge funds have also recently modified their holdings of the company. Comerica Bank increased its stake in Champion Homes by 119.9% in the 4th quarter. Comerica Bank now owns 35,543 shares of the company’s stock valued at $3,003,000 after buying an additional 19,377 shares during the period. Horizon Investments LLC acquired a new stake in shares of Champion Homes in the 4th quarter worth $1,439,000. Militia Capital Management LLC acquired a new stake in shares of Champion Homes in the 1st quarter worth $1,398,000. Union Square Park Capital Management LLC purchased a new stake in shares of Champion Homes in the first quarter valued at about $1,116,000. Finally, Bank of America Corp DE boosted its holdings in shares of Champion Homes by 8.9% in the first quarter. Bank of America Corp DE now owns 577,007 shares of the company’s stock valued at $42,912,000 after acquiring an additional 47,140 shares in the last quarter.

Insider Buying and Selling

In other Champion Homes news, EVP Joseph A. Kimmell sold 4,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $75.91, for a total value of $303,640.00. Following the completion of the transaction, the executive vice president directly owned 32,118 shares of the company’s stock, valued at approximately $2,438,077.38. This trade represents a 11.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael B. Berman sold 1,500 shares of Champion Homes stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $93.22, for a total transaction of $139,830.00. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 14,522 shares of company stock valued at $1,147,665. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SKY shares. Weiss Ratings upgraded shares of Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Royal Bank Of Canada raised their price objective on shares of Champion Homes from $92.00 to $99.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Zacks Research raised Champion Homes from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Barclays boosted their target price on Champion Homes from $102.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Zelman & Associates raised Champion Homes from a “hold” rating to an “outperform” rating in a research note on Thursday, August 6th. One investment 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 company. Based on data from MarketBeat, Champion Homes currently has an average rating of “Moderate Buy” and an average target price of $104.00.

Champion Homes Price Performance

Shares of NYSE SKY opened at $94.53 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 2.74. Champion Homes, Inc. has a one year low of $63.69 and a one year high of $99.17. The firm has a market capitalization of $5.13 billion, a P/E ratio of 27.56 and a beta of 1.01. The company’s fifty day moving average is $84.08 and its two-hundred day moving average is $81.09.

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

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.