Skyline Champion Co. (NYSE:SKY – Get Rating) – Investment analysts at Jefferies Financial Group dropped their Q3 2023 earnings per share estimates for Skyline Champion in a report issued on Wednesday, August 3rd. Jefferies Financial Group analyst P. Ng now anticipates that the company will post earnings of $1.15 per share for the quarter, down from their prior estimate of $1.22. The consensus estimate for Skyline Champion’s current full-year earnings is $5.10 per share. Jefferies Financial Group also issued estimates for Skyline Champion’s Q4 2023 earnings at $1.09 EPS.
A number of other equities analysts have also recently commented on SKY. Wedbush upgraded Skyline Champion from a “neutral” rating to an “outperform” rating and set a $70.00 price target for the company in a report on Thursday, July 7th. Royal Bank of Canada lifted their price target on Skyline Champion from $58.00 to $72.00 in a report on Thursday. Craig Hallum reduced their price target on Skyline Champion from $80.00 to $71.00 in a report on Wednesday, May 25th. Finally, Barclays boosted their price objective on Skyline Champion from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.75.
Skyline Champion Trading Up 2.6 %
Skyline Champion (NYSE:SKY – Get Rating) last posted its quarterly earnings results on Monday, May 23rd. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.52. Skyline Champion had a return on equity of 43.52% and a net margin of 13.30%. The business had revenue of $638.12 million during the quarter, compared to analysts’ expectations of $561.80 million. During the same quarter last year, the company posted $0.61 earnings per share. Skyline Champion’s quarterly revenue was up 42.5% on a year-over-year basis.
Institutional Investors Weigh In On Skyline Champion
Several institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp boosted its stake in shares of Skyline Champion by 5.7% in the first quarter. Mackenzie Financial Corp now owns 4,120 shares of the company’s stock valued at $226,000 after buying an additional 224 shares during the period. Great Lakes Advisors LLC boosted its stake in shares of Skyline Champion by 8.4% in the fourth quarter. Great Lakes Advisors LLC now owns 3,689 shares of the company’s stock valued at $291,000 after buying an additional 287 shares during the period. AlphaCrest Capital Management LLC boosted its stake in shares of Skyline Champion by 1.6% in the first quarter. AlphaCrest Capital Management LLC now owns 19,251 shares of the company’s stock valued at $1,056,000 after buying an additional 297 shares during the period. Natixis Advisors L.P. boosted its stake in shares of Skyline Champion by 0.9% in the fourth quarter. Natixis Advisors L.P. now owns 39,754 shares of the company’s stock valued at $3,140,000 after buying an additional 366 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in shares of Skyline Champion by 561.6% in the fourth quarter. First Horizon Advisors Inc. now owns 483 shares of the company’s stock valued at $38,000 after buying an additional 410 shares during the period. 98.48% of the stock is currently owned by institutional investors.
Insider Transactions at Skyline Champion
In other news, Director Erin Mulligan Nelson sold 6,508 shares of the business’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $52.83, for a total transaction of $343,817.64. Following the completion of the sale, the director now owns 1,750 shares in the company, valued at $92,452.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 7.10% of the company’s stock.
About Skyline Champion
Skyline Champion Corporation produces and sells factory-built housing in North America. The company offers manufactured and modular homes, park models RVs, accessory dwelling units, and modular buildings for the multi-family and hospitality sectors. It builds homes under the Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Atlantic Homes, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes brands in the United States; and Moduline and SRI Homes brand names in western Canada.
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