Craig Hallum Lowers Skyline Champion (NYSE:SKY) Price Target to $71.00

Skyline Champion (NYSE:SKY – Get Rating) had its target price lowered by research analysts at Craig Hallum from $80.00 to $71.00 in a research note issued to investors on Wednesday, The Fly reports. Craig Hallum’s price objective suggests a potential upside of 47.46% from the company’s previous close.

Several other research analysts have also recently weighed in on the company. Zacks Investment Research cut Skyline Champion from a “buy” rating to a “hold” rating in a research report on Thursday, April 7th. Barclays lowered their price objective on Skyline Champion from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday. Royal Bank of Canada lowered their price objective on Skyline Champion from $87.00 to $61.00 in a research report on Wednesday. Finally, StockNews.com began coverage on Skyline Champion in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $70.60.

Shares of NYSE SKY traded up $3.05 during trading hours on Wednesday, hitting $48.15. The company had a trading volume of 6,179 shares, compared to its average volume of 589,563. The stock has a market capitalization of $2.74 billion, a P/E ratio of 13.67 and a beta of 1.92. The company has a quick ratio of 1.59, a current ratio of 2.24 and a debt-to-equity ratio of 0.02. Skyline Champion has a 1-year low of $42.68 and a 1-year high of $85.92. The firm’s 50 day moving average is $55.19 and its 200-day moving average is $66.74.

Skyline Champion (NYSE:SKY – Get Rating) last released its quarterly earnings data on Monday, May 23rd. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.00 by $0.51. The company had revenue of $638.12 million during the quarter, compared to the consensus estimate of $561.80 million. Skyline Champion had a return on equity of 30.44% and a net margin of 9.68%. The firm’s revenue for the quarter was up 42.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 EPS. On average, sell-side analysts predict that Skyline Champion will post 3.81 earnings per share for the current year.

In other news, VP Timothy A. Burkhardt sold 2,500 shares of Skyline Champion stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $68.55, for a total transaction of $171,375.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 6.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Skyline Champion by 5.5% during the third quarter. Wellington Management Group LLP now owns 6,815,595 shares of the company’s stock valued at $409,345,000 after purchasing an additional 356,528 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Skyline Champion by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,490,446 shares of the company’s stock worth $301,316,000 after acquiring an additional 167,921 shares during the period. BlackRock Inc. lifted its stake in shares of Skyline Champion by 3.1% in the fourth quarter. BlackRock Inc. now owns 4,013,384 shares of the company’s stock worth $316,977,000 after acquiring an additional 120,875 shares during the period. FMR LLC lifted its stake in shares of Skyline Champion by 4.7% in the first quarter. FMR LLC now owns 2,323,264 shares of the company’s stock worth $44,142,000 after acquiring an additional 105,135 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Skyline Champion by 46.7% in the first quarter. American Century Companies Inc. now owns 1,829,025 shares of the company’s stock worth $100,377,000 after acquiring an additional 582,173 shares during the period. 98.48% of the stock is currently owned by hedge funds and other institutional investors.

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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