Skyline Champion (NYSE:SKY) Posts Earnings Results, Beats Estimates By $0.51 EPS

Skyline Champion (NYSE:SKY – Get Rating) announced its quarterly earnings data on Monday. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.51, Briefing.com reports. Skyline Champion had a net margin of 9.68% and a return on equity of 30.44%. The business had revenue of $638.12 million during the quarter, compared to analyst estimates of $561.80 million. During the same quarter in the prior year, the business earned $0.61 earnings per share. The firm’s revenue for the quarter was up 42.5% on a year-over-year basis.

Shares of SKY stock opened at $53.63 on Tuesday. Skyline Champion has a 52-week low of $41.87 and a 52-week high of $85.92. The stock has a market cap of $3.05 billion, a PE ratio of 15.73 and a beta of 1.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.59 and a current ratio of 2.24. The firm’s 50 day moving average price is $55.66 and its two-hundred day moving average price is $66.89.

In other Skyline Champion news, VP Timothy A. Burkhardt sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 17th. The shares were sold at an average price of $68.55, for a total value of $171,375.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.90% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd acquired a new stake in Skyline Champion in the first quarter worth $160,000. Quantamental Technologies LLC acquired a new stake in shares of Skyline Champion during the first quarter worth $471,000. Dynamic Technology Lab Private Ltd raised its holdings in shares of Skyline Champion by 81.5% during the first quarter. Dynamic Technology Lab Private Ltd now owns 17,530 shares of the company’s stock worth $962,000 after acquiring an additional 7,870 shares during the period. Wellington Management Group LLP raised its holdings in shares of Skyline Champion by 6.1% during the first quarter. Wellington Management Group LLP now owns 5,864,485 shares of the company’s stock worth $321,842,000 after acquiring an additional 335,974 shares during the period. Finally, State Street Corp raised its holdings in shares of Skyline Champion by 8.6% during the first quarter. State Street Corp now owns 1,466,505 shares of the company’s stock worth $80,482,000 after acquiring an additional 116,078 shares during the period. Institutional investors own 98.48% of the company’s stock.

Several research analysts recently issued reports on the stock. Royal Bank of Canada raised shares of Skyline Champion from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $81.00 to $87.00 in a research report on Friday, February 4th. Barclays dropped their price objective on shares of Skyline Champion from $100.00 to $84.00 in a report on Thursday, March 31st. StockNews.com started coverage on shares of Skyline Champion in a report on Thursday, March 31st. They set a “hold” rating for the company. Craig Hallum dropped their price objective on shares of Skyline Champion from $111.00 to $80.00 in a report on Monday, April 18th. Finally, Zacks Investment Research lowered shares of Skyline Champion from a “buy” rating to a “hold” rating in a report on Thursday, April 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Skyline Champion has an average rating of “Buy” and an average price target of $80.20.

Skyline Champion Company Profile (Get Rating)

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

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