Skyline Champion (NYSE:SKY) Trading Down 8.8%

Shares of Skyline Champion Co. (NYSE:SKYGet Rating) fell 8.8% on Tuesday . The stock traded as low as $53.86 and last traded at $53.94. 6,848 shares were traded during mid-day trading, a decline of 98% from the average session volume of 298,583 shares. The stock had previously closed at $59.16.

Analysts Set New Price Targets

Several equities research analysts have commented on SKY shares. Royal Bank of Canada boosted their target price on Skyline Champion from $58.00 to $72.00 in a report on Thursday, August 4th. Craig Hallum boosted their target price on Skyline Champion to $76.00 in a report on Tuesday, August 9th. Wedbush raised Skyline Champion from a “neutral” rating to an “outperform” rating and set a $70.00 target price on the stock in a report on Thursday, July 7th. Barclays boosted their target price on Skyline Champion from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Thursday, August 4th. Finally, StockNews.com raised Skyline Champion from a “hold” rating to a “buy” rating in a report on Thursday, September 8th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $73.00.

Skyline Champion Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.45 and a quick ratio of 1.66. The business has a 50-day simple moving average of $59.92 and a 200 day simple moving average of $56.79. The firm has a market cap of $3.00 billion, a PE ratio of 9.38 and a beta of 2.02.

Skyline Champion (NYSE:SKYGet Rating) last released its earnings results on Tuesday, August 2nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.46. Skyline Champion had a return on equity of 40.73% and a net margin of 13.30%. The firm had revenue of $725.88 million during the quarter, compared to analysts’ expectations of $688.65 million. Equities research analysts forecast that Skyline Champion Co. will post 5.96 EPS for the current year.

Insider Buying and Selling at Skyline Champion

In other Skyline Champion news, EVP Joseph A. Kimmell sold 5,921 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $66.71, for a total transaction of $394,989.91. Following the completion of the transaction, the executive vice president now owns 38,813 shares in the company, valued at approximately $2,589,215.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Skyline Champion

Several institutional investors have recently modified their holdings of SKY. American Century Companies Inc. lifted its stake in shares of Skyline Champion by 46.7% in the 1st quarter. American Century Companies Inc. now owns 1,829,025 shares of the company’s stock valued at $100,377,000 after purchasing an additional 582,173 shares during the last quarter. Burgundy Asset Management Ltd. bought a new stake in shares of Skyline Champion in the 2nd quarter valued at approximately $26,242,000. Millennium Management LLC lifted its stake in shares of Skyline Champion by 160.9% in the 2nd quarter. Millennium Management LLC now owns 818,034 shares of the company’s stock valued at $38,791,000 after purchasing an additional 504,522 shares during the last quarter. Neumeier Poma Investment Counsel LLC bought a new stake in shares of Skyline Champion in the 1st quarter valued at approximately $21,572,000. Finally, Wellington Management Group LLP lifted its stake in shares of Skyline Champion by 6.1% in the 1st quarter. Wellington Management Group LLP now owns 5,864,485 shares of the company’s stock valued at $321,842,000 after purchasing an additional 335,974 shares during the last quarter. 99.17% of the stock is owned by institutional investors.

About Skyline Champion

(Get Rating)

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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