Skyline Champion (NYSE:SKY – Get Rating) had its target price boosted by research analysts at Royal Bank of Canada from $54.00 to $65.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Royal Bank of Canada's price target indicates a potential downside of 4.40% from the stock's current price.
A number of other analysts also recently issued reports on the stock. Barclays downgraded shares of Skyline Champion from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $65.00 to $60.00 in a research report on Wednesday, December 14th. StockNews.com raised shares of Skyline Champion from a "hold" rating to a "buy" rating in a research report on Friday, January 27th. Finally, Craig Hallum dropped their target price on shares of Skyline Champion from $75.00 to $65.00 in a research report on Thursday, November 3rd.
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Skyline Champion Trading Down 2.2 %
NYSE SKY opened at $67.99 on Wednesday. The company has a 50-day moving average of $55.96 and a 200-day moving average of $56.30. The company has a market cap of $3.88 billion, a P/E ratio of 9.07 and a beta of 1.68. Skyline Champion has a 12 month low of $43.04 and a 12 month high of $81.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 2.17.
Skyline Champion (NYSE:SKY – Get Rating) last posted its earnings results on Tuesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.47. The firm had revenue of $582.30 million during the quarter, compared to the consensus estimate of $534.75 million. Skyline Champion had a net
margin of 15.65% and a return on equity of 42.79%. The company's revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 EPS. As a group, equities analysts predict that Skyline Champion will post 6.74 earnings per share for the current year.
Insiders Place Their Bets
In other Skyline Champion news, CEO Mark J. Yost sold 41,823 shares of the company's stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $55.46, for a total value of $2,319,503.58. Following the completion of the transaction, the chief executive officer now owns 113,370 shares in the company, valued at approximately $6,287,500.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Mark J. Yost sold 41,823 shares of the stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $55.46, for a total transaction of $2,319,503.58. Following the completion of the transaction, the chief executive officer now directly owns 113,370 shares in the company, valued at approximately $6,287,500.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael B. Berman sold 5,536 shares of the stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $52.70, for a total value of $291,747.20. Following the transaction, the director now owns 10,099 shares of the company's stock, valued at $532,217.30. The disclosure for this sale can be found here. Insiders sold a total of 49,109 shares of company stock worth $2,699,241 in the last 90 days. 7.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On Skyline Champion
Several institutional investors and hedge funds have recently made changes to their positions in SKY. JPMorgan Chase & Co. boosted its stake in shares of Skyline Champion by 28.9% during the 1st quarter. JPMorgan Chase & Co. now owns 60,302 shares of the company's stock valued at $3,309,000 after buying an additional 13,513 shares during the last quarter. Private Advisor Group LLC bought a new position in Skyline Champion during the first quarter worth $277,000. Bank of Montreal Can bought a new position in Skyline Champion during the first quarter worth $222,000. Acadian Asset Management LLC bought a new position in Skyline Champion during the first quarter worth $496,000. Finally, MetLife Investment Management LLC lifted its stake in Skyline Champion by 53.8% during the first quarter. MetLife Investment Management LLC now owns 28,047 shares of the company's stock worth $1,539,000 after purchasing an additional 9,809 shares during the last quarter. 99.56% of the stock is currently owned by hedge funds and other institutional investors.
Skyline Champion Company Profile
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Skyline Champion Corp. engages in the manufacturing and retail of mobile homes and other manufactured housing. It builds homes under the following brands: Skyline Homes, Champion Home Builders, Athens Park Model RVs, Dutch Housing, Excel Homes, Homes of Merit, New Era, Redman Homes, Shore Park, Silvercrest, Titan Homes in the U.S.
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