Fifth Third Bancorp Grows Position in Champion Homes, Inc. $SKY

Fifth Third Bancorp boosted its holdings in shares of Champion Homes, Inc. (NYSE:SKY) by 750.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,481 shares of the company’s stock after purchasing an additional 33,954 shares during the quarter. Fifth Third Bancorp’s holdings in Champion Homes were worth $2,862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its stake in shares of Champion Homes by 78.9% in the 4th quarter. UMB Bank n.a. now owns 313 shares of the company’s stock valued at $26,000 after purchasing an additional 138 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Champion Homes in the fourth quarter worth $26,000. Kestra Advisory Services LLC bought a new position in Champion Homes during the fourth quarter valued at $26,000. Advisory Services Network LLC purchased a new stake in shares of Champion Homes in the third quarter valued at $35,000. Finally, Hantz Financial Services Inc. raised its position in Champion Homes by 258.3% in the 4th quarter. Hantz Financial Services Inc. now owns 559 shares of the company’s stock worth $47,000 after purchasing an additional 403 shares during the period.

Insider Activity at Champion Homes

In related news, EVP Joseph A. Kimmell sold 7,922 shares of Champion Homes stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $75.70, for a total value of $599,695.40. Following the completion of the sale, the executive vice president directly owned 36,118 shares in the company, valued at $2,734,132.60. This trade represents a 17.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by insiders.

Champion Homes Trading Down 1.4%

NYSE:SKY opened at $81.52 on Tuesday. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 22.27 and a beta of 1.00. Champion Homes, Inc. has a 52 week low of $60.13 and a 52 week high of $99.17. The company has a quick ratio of 1.69, a current ratio of 2.48 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $78.07 and a 200 day moving average of $81.69.

Champion Homes (NYSE:SKY) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The firm had revenue of $621.28 million during the quarter, compared to analysts’ expectations of $607.39 million. Champion Homes had a return on equity of 13.80% and a net margin of 7.77%.The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. As a group, sell-side analysts anticipate that Champion Homes, Inc. will post 3.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Zacks Research cut Champion Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Citigroup initiated coverage on shares of Champion Homes in a research note on Friday, June 5th. They issued a “buy” rating and a $93.00 price target on the stock. Weiss Ratings lowered shares of Champion Homes from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 27th. UBS Group assumed coverage on shares of Champion Homes in a research report on Friday, June 5th. They issued a “buy” rating and a $93.00 price objective for the company. Finally, Royal Bank Of Canada decreased their price target on shares of Champion Homes from $101.00 to $92.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

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.