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Skyline Champion Soared, What’s Up? Initial Look Behind the Curtain

May 24th, 2019 Comments off

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The Motley Fool is an investment site that has reportedly drawn the ire of industry leaders such as Joe Stegmayer, former president and chairman of Cavco Industries and still MHI Chairman, on more than one occasion. Indeed, such stock and financial news sites, including Seeking Alpha, are often a mixed bag of useful and problematic reports – in part because those writing their analysis may get financials or certain details correct, but may still lack the manufactured home industry specific insights that could make their reporting better.

 

Rephrased, as with our sources we track, MHProNews takes a ‘wheat and chaff’ approach to their narratives.

With that brief backdrop meant for our growing audience, the Daily Business News on MHProNews turns to a report Wednesday by the Fool’s Lou Whiteman, who disclosed that he “has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.” MHProNews uses a similar disclosure.

As MHProNews has customarily done for years, we often turn quoted text bold and brown to make it pop, but the quotes are otherwise as in the original.

 Whiteman said in the report found at this link here that, “Another strong earnings report provides evidence the company’s 2018 acquisition is paying dividends.”

That should be understood in the light of the graphic below, which reflects the 1 year trend on Skyline Champion’s (SKY) stock’s value.

SkylineChampionStock5232019TickerManufacturedHousingIndustryMHProNews

 

That noted, before diving into the specifics of Whiteman’s analysis of the SKY stock’s recent moves, in the wake of an upbeat report, let’s focus on this pull quote.

Consistent with our [The Motley Fool’s] previous comments, we remain positive on the outlook for manufactured housing industry, as we see significant runway for continued growth. Industry volumes remain well below the long-term averages, and new financing options are becoming available and are slowly helping close the gap with those historic trends.”

That’s a point that most HUD Code manufactured home industry professionals can agree with, and take some heart in.

BloombergShipmentProductionDataManufacturedHousingMHProNews2019-05-16_1057

But that too must be understood in the light of significant evidence of market manipulation, which is arguably at the heart of why Skyline Champion – or most any other manufactured housing firm – are underperforming.  One of several possible examples a newcomer can begin to research is linked below.

 

 

The following graphic is a composite from the firm’s website.

 

SkylineChampionByTheNumbersSKYmanufacturedhousingDailyBusinessNewsMHproNews

 

That said, back to Whiteman’s narrative. The bullets represent quotes under the subheadings from the Motley Fool.

What happened

  • Shares of Skyline Champion (NYSE:SKY) climbed 13.9% on Wednesday, after the manufacturer of modular homes reported quarterly results that suggest the company is performing well following a major acquisition last year.

So what

 

  • On Tuesday after the markets closed, Skyline Champion reported fiscal fourth-quarter earnings of $0.26 per share on revenue of $327.7 million, beating the $0.20-per-share consensus earnings estimate despite falling short of the $344.22 million in expected sales. The company was created last June through a merger between Skyline and Champion Enterprises, which created the nation’s largest publicly traded factory-built-housing company.
  • Net sales in the quarter grew 23% year over year, and U.S. sales led the way with 35% growth. Skyline Champion reported both a 15% increase in total number of U.S. transactions and a 17% increase in average selling price, as a result of strong demand and favorable product mix. In Canada, sales fell 17% because of a decline in homes sold.
  • This is Skyline Champion’s second straight quarterly beat.

Now what

 

  • CEO Keith Anderson, on a post-earnings call with investors, said the manufactured-housing market in recent years has grown faster than the broader housing industry. He added that the company expects growth to continue into the new fiscal year:

  • Skyline Champion ended the quarter with a backlog of $143 million, down slightly from $155 million a year prior, but the company says the current total is higher quality because it doesn’t include inflated orders for lower-margin Federal Emergency Management Agency residences.
  • Based on the stock reaction, investors seem to believe Skyline Champion is building on a solid foundation.

##

To reiterate in a different way, investors in stocks like SKY ought to demand investigation followed by action about purported market manipulation.  The Fool is right in saying there is plenty of upside, but it could be achieved faster and with hefty returns, in the absence of concerns such as those linked herein and below.  That’s not only the expert view here, but by others in the industry, as the reports further below reflect.

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To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP or Comments or Letter to Editor in the subject line.

 

Special Skyline Champion Report Ahead

MHProNews plans a special report on Skyline Champion in the days ahead. Watch for it. For a prior and other related reports, see below the byline, offers, and notices.

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To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

That’s this morning’s second look at “News through the lens of manufactured homes, and factory-built housing” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP or Comments or Letter to Editor in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

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To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

Related Reports:

You can click on the image/text boxes to learn more about that topic.

“Lead, Follow … Or Get Out of The Way”

“Monopoly” in Manufactured Housing Alleged by George Allen, MHI Defender’s Turn by former Community-Investor, Self-Claimed EducateMHC Blogger

Kobayashi Maru, Crime, Kevin Clayton, Darren Krolewski, MHInsider – State of Manufactured Housing Industry

 

 

 

 

Sunday Morning Weekly Recap Manufactured Housing Industry News July 23rd to July 30th, 2017

July 30th, 2017 Comments off

MHProNewsHomePage610.2017IpadManufacturedHousingIndustryReportsRecapResearchData6182017Our theme for this month: July Justice 2017 – MH Billionaires, Millionaires, and You  Our featured articles will be available on the MHProNews.com home page. Our May theme will be available mid-week this week.

 To see the line-up of over 2-dozen featured articles for this month, along with the headline commentary, please click the link above.

Manufactured, modular and prefabricated home professionals know that how a home got to its location should not define a person or their dwelling.

What the Daily Business News spotlights day-by-day are the tragedies, triumphs and struggles for acceptance of the obvious solution for millions for the growing affordable housing crisis in the U.S. and beyond.

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When you read the lineup for the month found on the home page, you can reflect on another motto as you chart your own professional path ahead: “We Provide, You Decide.”  ©

 

What’s New On MHLivingNews

Rising Renters Nation, Pew Research, Overlooked Affordable Home Ownership Solution, plus Infotainment Videos
Separating Fact, Fiction and Using Correct Factory-Built Home Terminology


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What’s New On MHProNews

July 28th, 2017

 

July 27th, 2017

 

July 26th, 2017

 

July 25th, 2017

 

July 24th, 2017

July 23rd, 2017

 

No End in Sight? Trump Cheers Stock Market Streak

February 16th, 2017 Comments off
NoEndinSightTrumpCheersStockMarketStreakcreditBusinessInsiderGettyImages-postedtothedailybusinessnewsmhpronewsmhlivingnews

President Donald J. Trump. Credit: Business Insider, Getty Images.

With the Dow, NASDAQ, S&P 500 and the Russell 2000 Index all on record winning streaks, many are trying to figure out just how all of this is happening.

President Donald Trump believes that he has the answer.

Stock market hits new high with longest winning streak in decades,” Trump tweeted today.

Great level of confidence and optimism — even before tax plan rollout!

According to Business Insider, the NASDAQ composite index has set a record-high close seven days in a row, which is the longest streak since 1999. Additionally, the S&P 500, the Dow Jones industrial average, and the Nasdaq have all hit closing records at the same time for five straight days, the longest triple winning streak in 25 years.

But the hits don’t stop there.

The markets have not seen a one percent decrease since October 11, which is the longest streak in the last 11 years, and are on the second longest “bull market” run in history, only being outdone by the run from 1987 to 2000.

As Daily Business News readers are aware, consumer, small business and homebuilder confidence are at or above record highs post election, spurred by President Trump’s daily meetings with leaders from all industries and plans for tax and regulatory reform.

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Credit, NFIB.

The post-election surge in optimism for the economy, jobs and income prospects, as well as for stock prices which reached a 13-year high, was most pronounced among older consumers,” said Lynn Franco, Director of Economic Indicators at The Conference Board.

Consumers’ assessment of current conditions, which declined, still suggests that economic growth continued through the final months of 2016. Looking ahead to 2017, consumers’ continued optimism will depend on whether or not their expectations are realized.

The level of confidence is being backed up by hard data, with recently released retail sales numbers also beating expectations.

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Donald Trump with Softbank CEO Masayoshi Son. Credit: CBS News.

With taxes, Trump referenced releasing “something phenomenal in terms of tax in the next two to three weeks” while meeting with retail and airline CEO’s last week.

This statement helped to move markets higher, as Wall Street and others anxiously await a detailed tax plan. President Trump has said in the past that he would like to lower the corporate tax rate to 15 percent from the current federal rate of 35 percent.

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Juanita Duggan. Credit: NFIB.

 

 

We haven’t seen numbers like this in a long time,” said NFIB President and CEO Juanita Duggan.

Small business is ready for a breakout, and that can only mean very good things for the U.S. economy. Business owners are feeling better about taking risks and making investments.

For the recent closing numbers yesterday on all MH industry-connected tracked stocks, please click here. ##

 

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Equity Lifestyle Properties Sees Volume Spike in Stock, Updates Earnings Guidance

December 2nd, 2016 Comments off
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Collage of ELS, photos, symbols and logo from an annual report.

Equity LifeStyle Properties Inc. (NYSE: ELS) saw a volume spike on its stock on November 29th.

On the day, ELS saw 699,263 shares trade hands on 6,059 trades. The stock averages a daily volume of 444,616 shares a day over the last month, and the difference represents a significant bump in volume.

According to Equities, when a stock experiences a sudden spike in trading volume, it may be seen as a “bullish” signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

ELS also updated its FY17 earnings guidance on November 29th, providing new guidance of $3.45-3.55 for the period, compared to the Thomson Reuters consensus earnings per share (EPS) estimate of $3.53. The company also updated its Q4 guidance to $0.75-0.81 EPS.

As Daily Business News readers are aware, ELS reported its Q3 2016 earning and 2017 guidance on October 17th. That report is linked here.

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ELS one year view, focus on 11/29/2016. Credit: Bloomberg.

ELS has also been the topic of a number of recent research reports from analysts:

  • Evercore ISI began their coverage in a research report on November 28th, and set a “hold” rating with a $74.00 target price on the stock.
  • TheStreet changed its rating from “buy” to “hold” on October 7th.
  • BMO Capital Markets reissued a “hold” rating and set a $77.00 target price on July 28th.
  • Citigroup boosted their target price on the stock from $70.00 to $80.00 and gave the stock a “neutral” rating July 7th.

Commenting on the budget process during the ELS earnings call in October, CEO Marguerite Nader provided additional insight.

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Marguerite Nader. Credit: Bloomberg.

Each year, we finish our budget process in October and provide detailed projections for the following year.

We have issued guidance of $3.50 for next year, which is a 6.6% growth in FFO per share. Certain line items like seasonal and transient activity require more visibility to be able to forecast with more accuracy. As is our practice, we will update guidance each quarter as we have more knowledge about reservations at the property level,” said Nader.

Demand for our product is strong. The demographic trend is in our favor. We anticipate that we will continue to see the same positive trends from 2016 coming into 2015, including strengthen our RV footprint and increase MH ownership transactions.

As manufactured housing professionals, investors and enthusiasts know, ELS is a REIT – a Real Estate Investment Trust – and is one of the largest owner/operators of manufactured home communities and RV parks in the nation.

ELS is also one of the manufactured home industry connected stocks tracked every business day by the Daily Business News, with the most recent report, linked here. ##

(Editor’s Note: for A Cup of Coffee interview with ELS CEO Nader, click here.  Sam Zell’s post-election reflections are linked here.)

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Drew Industries – Updated Rating from Citigroup

October 31st, 2016 Comments off
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Drew Industries at the NYSE. Credit: Drew Industries.

Drew Industries, Inc. (NYSE: DW) has received a “buy” rating from analysts, according to a recent report from StockzIntellegence, Inc.

Citigroup provided its “buy” recommendation on August 15th with a target price of $110.00, up from $85.00 in May.

Drew Industries’ share price has increased 47.62 percent since March 24th, 2016 and has outperformed the S&P 500 by 42.53 percent.

A total of 51 investment funds purchased stakes in Drew, while 66 increased their positions in the company. A total of 15 funds sold all of their interest in Drew, while 52 have reduced their positions.

In total, funds now own 23.25 million shares or 1.29 percent more than the 22.96 million shares held by funds in Q1 2016.

Holdings of note:

  • Neuberger Berman holds 1.46 million shares, equal to 0.17 percent
  • Nationwide Fund Advisors holds 15.641 shares, equal 0.01 percent
  • Tiverton Asset Management, Ltd holds 735,000 shares, or 0.02 percent of the stock
  • Capstone Asset Management also has 0.02 percent invested and holds 9,700 shares.
  • RK Capital, LLC reported 126,687 shares and Advisor Asset Management holds 11,887 shares or 0.02 percent of Drew stock.
drewindustriesanalystfavoritereceivesbuyratingfromcitigroupcreditbloomberg-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Bloomberg.

As Daily Business News readers are aware, Drew Industries supplies component parts to the manufactured housing and recreational vehicle industries across the U.S. and in Europe.

Insider stock transactions have generated $7.16 million in net activity since May 2016:

  • Scott T Mereness sold 2,000 shares, worth $205,200
  • John Lowe sold 10,687 shares worth $826,960
  • Jason Lippert sold shares with a total value of $999,300
  • Brian Hall sold shares with a total value of $55,427
  • David Reed sold $240,975 worth of shares
  • Leigh Abrams sold 5,527 shares, worth $447,190.

Drew Industries is one of the various industry-connected stocks monitored each business day on the industry’s only daily market report, featured exclusively on the Daily Business News.

Drew Industries will report Q3 earnings via conference call on November 3rd, 2016.

For the most recent closing numbers on all MH industry-connected tracked stocks, please click here. ##

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Leigh J. Abrams.

(Editor’s Note: For an exclusive interview with Drew’s Leigh Abrams, click here.)

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Milestone: Cavco Industries (CVCO) stock reached new 52-week high

September 10th, 2016 Comments off
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Graphic credit, Cavco, text credit, MHProNews,

Cavco Industries, Inc., the nation’s second largest producer of manufactured homes in the United States, recently hit a new 52-week high, when it reached a peak of $109.43.

Cavco closed Friday night at 101.17, down after a broader retreat by the markets

A possible benefit of a company hitting a new 52-week high is trading opportunities will open on up on either the long or short side, depending on an individual investor’s perspective.

While some may look at this milestone as sign of momentum and the perfect time to buy, others with a less optimistic view might see the peak as the beginning of the end of a strong run.

Here’s a closer look at the numbers behind Cavco’s new 52-week high:

  • Volume of 235,442
  • Stock has a float of 8.97 million shares
  • Average daily volume of $96,947
  • Market cap up to $958.46 million
  • 50-day SMA of $99.05 and 200-day SMA of $90.22

As is widely known by MH Industry professionals, Phoenix, AZ-based Cavco Industries produces manufactured homes, modular and park model homes, vacation cabins and commercial structures. Factory-built homes are designed and produced under such brand names as Cavco Homes, Fleetwood Homes and Palm Harbor Homes.

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Graphic credit, Bloomberg. To see the complete Manufactured Housing Industry tracked stock report for Friday, 9.9.2016, please click here or on the graphic above.

An uptick for Cavco

A six-month bull market means Cavco should be a low-risk investment, according to the Press Telegraph. Plus if Cavco reaches a $129.54 stock price, the company would add another $206.97 million to its overall value.

Unless the broader retreat in the markets continues its drag, some analysts believe that Cavco is on the rise.  For example:

  • The stock rose 2.61% on Sept. 2 and has increased by 29.10% since February 1 of this year and outperformed the S&P 500 by 16.69%
  • Analysts will get a better idea of how Cavco has performed on November 3, when the company next reports its earnings.

Power players’ moves

Several of Cavco Industries’ leaders recently sold company shares, including director William C. Boor, Chairman, President and CEO Joseph H. Stegmayer and director Steven G. Bunger.  Director Jack Hanna filed a Form 4. For more details about those moves, click here. ##

(Image credits as shown.)

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Joe Dyton, for the Daily Business News, MHProNews.

Submitted by Joe Dyton to the Daily Business News, MHProNews.

UMH Properties Receives Reinitiation from Sidoti

September 13th, 2013 Comments off

Provider of equity research Sidoti & Company LLC has issued a BUY rating for the stock of manufactured housing community owner UMH Properties, Inc. based on its presence in the Utica and Marcellus Shale energy exploration region. Sidoti says an influx of workers and families to the area, which includes eastern Ohio, western New York and Pennsylvania, and northern West Virginia will increase UMH occupancy from 80 percent in 2012 to 82 percent in 2013 and 84 percent in 2014. Additionally, revenues will rise 33 percent to $62.2 million in 2013 and 16 percent higher in 2014 to $72 million. The company estimates funds from operations (FFO) for UMH will increase from $0.62 per share in 2012 to $0.84 per share this year and $0.89 in 2014. As MHProNews knows, UMH owns and operates 68 manufactured housing communities comprised of 12,800 sites in seven states, as well as a portfolio of real estate investment trust securities.

(Photo credit: UMH Properties, Inc.)

Patrick Industries Acquires a Duet

September 9th, 2013 Comments off

Elkhart, Indiana-based Patrick Industries (NASDAQ:PATK) announces the acquisition of Frontline, Mfg., Inc. and Premier Concepts, Inc., two related companies, both of nearby Warsaw, IN for $8 million. Frontline manufactures bath fixtures for the manufactured housing and recreational vehicle markets, and has projected revenues for this year of $15 million. Premier specializes in custom countertops for the RV and residential housing industries, and projects sales this year of $10 million. According to insideindianabusiness.com, the purchase was funded through a line of credit. Both companies will continue to operate in their current facilities. MHProNews knows Patrick is a supplier of a variety of components to the MH and RV markets. On the big board Fri., Sept. 6 the stock closed down -$1.86 at $26.93.

(Image credit: Patrick Industries, Inc.)

Killam Declares Dividend

August 20th, 2013 Comments off

Killam Industries, Inc. of Halifax, Nova Scotia, Canada announces it will pay stockholders of record as of Aug. 30, 2013 a dividend of $0.0483 per share on Monday, Sept 16, 2013. Two equities research analysts have conferred a rating of hold on the stock, five have assigned it a buy rating and one a strong buy rating, according to mideasttime.com. Killam opened at $10.11 today, Tuesday, Aug. 20. MHProNews knows Killam is one of the largest owners of manufactured housing communities in Canada with 9,290 home sites.

(Photo credit: Killam Properties, Inc.)

Housing Stock in Trouble Drops

August 13th, 2013 Comments off

In its National Delinquency Survey, the Mortgage Bankers Association (MBA) reports homes across the country in some type of financial distress fell in the second quarter to 10.1 percent from 11.6 percent a year ago. Nationwide the average foreclosure rate was 3.3 percent in Q2 2013, although Florida hit the high note for the state with the highest delinquency and foreclosure rate at 17.4 percent of its housing stock. Meanwhile, abqjournal tells MHProNews foreclosure activity is shifting away from the states that had the highest rates—Arizona, California, and Nevada—to the northeast states of New York, New Jersey and to a lesser extent, Connecticut. The drop in the foreclosure rate over all is feeding the rise in home asking prices.

(Photo credit: Google Images)