Cerity Partners LLC Lowers Stock Holdings in Champion Homes, Inc. (NYSE:SKY)

Cerity Partners LLC lowered its stake in shares of Champion Homes, Inc. (NYSE:SKY) by 42.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,539 shares of the company’s stock after selling 48,475 shares during the quarter. Cerity Partners LLC owned about 0.12% of Champion Homes worth $6,305,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SKY. GAMMA Investing LLC increased its stake in Champion Homes by 306.0% in the 1st quarter. GAMMA Investing LLC now owns 1,015 shares of the company’s stock valued at $96,000 after buying an additional 765 shares during the period. Oppenheimer & Co. Inc. increased its stake in Champion Homes by 142.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 7,394 shares of the company’s stock valued at $701,000 after buying an additional 4,341 shares during the period. Principal Financial Group Inc. increased its stake in Champion Homes by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 262,811 shares of the company’s stock valued at $24,904,000 after buying an additional 5,887 shares during the period. New York State Teachers Retirement System increased its stake in Champion Homes by 3.4% in the 1st quarter. New York State Teachers Retirement System now owns 12,300 shares of the company’s stock valued at $1,166,000 after buying an additional 400 shares during the period. Finally, Bessemer Group Inc. increased its stake in Champion Homes by 4.3% in the 1st quarter. Bessemer Group Inc. now owns 244,149 shares of the company’s stock valued at $23,136,000 after buying an additional 10,107 shares during the period.

Analysts Set New Price Targets

SKY has been the topic of several recent research reports. Zelman & Associates raised shares of Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 5th. Royal Bank Of Canada dropped their price objective on shares of Champion Homes from $96.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 28th. Finally, Barclays dropped their price objective on shares of Champion Homes from $97.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 28th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $80.60.

Champion Homes Price Performance

Shares of NYSE SKY opened at $63.68 on Wednesday. The firm has a market capitalization of $3.65 billion, a P/E ratio of 18.62 and a beta of 1.16. Champion Homes, Inc. has a one year low of $59.44 and a one year high of $116.49. The company’s fifty day moving average is $71.38 and its two-hundred day moving average is $85.08. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.61 and a current ratio of 2.41.

Champion Homes (NYSE:SKY) last issued its earnings results on Tuesday, May 27th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). Champion Homes had a return on equity of 13.61% and a net margin of 7.99%. The company had revenue of $593.87 million for the quarter, compared to analysts’ expectations of $595.42 million. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Champion Homes’s revenue for the quarter was up .7% on a year-over-year basis. Analysts forecast that Champion Homes, Inc. will post 3.63 EPS for the current fiscal year.

Champion Homes declared that its board has initiated a share buyback plan on Friday, May 30th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

About Champion Homes

Skyline Champion Corporation produces and sells factory-built housing in North America. The company offers manufactured and modular homes, park models RVs, accessory dwelling units, and modular buildings for the multi-family and hospitality sectors. It builds homes under the Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Atlantic Homes, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes brands in the United States; and Moduline and SRI Homes brand names in western Canada.