Skyline Champion (NYSE:SKY) PT Lowered to $61.00

Skyline Champion (NYSE:SKY) had its price target cut by equities research analysts at Barclays from $66.00 to $61.00 in a report released on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 2.54% from the company’s current price.

SKY has been the topic of a number of other reports. Wedbush restated an “outperform” rating and issued a $78.00 price target on shares of Skyline Champion in a report on Wednesday, September 27th. Craig Hallum upped their target price on Skyline Champion from $75.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, August 16th. StockNews.com began coverage on Skyline Champion in a report on Thursday, October 5th. They set a “hold” rating on the stock. Jefferies Financial Group upped their target price on Skyline Champion from $61.00 to $62.00 and gave the stock a “hold” rating in a report on Thursday, July 13th. Finally, Royal Bank of Canada dropped their target price on Skyline Champion from $68.00 to $55.00 and set a “sector perform” rating on the stock in a report on Thursday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $67.40.

Skyline Champion Stock Performance

SKY stock opened at $59.49 on Thursday. The business’s 50-day moving average price is $64.22 and its two-hundred day moving average price is $66.13. The company has a current ratio of 4.39, a quick ratio of 3.59 and a debt-to-equity ratio of 0.01. The firm has a market cap of $3.40 billion, a PE ratio of 14.44 and a beta of 1.70. Skyline Champion has a 1-year low of $45.32 and a 1-year high of $76.82.

Skyline Champion (NYSE:SKY) last posted its earnings results on Tuesday, October 31st. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). The business had revenue of $464.24 million for the quarter, compared to the consensus estimate of $458.57 million. Skyline Champion had a return on equity of 19.40% and a net margin of 11.86%. The business’s revenue was down 42.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.51 earnings per share. As a group, research analysts forecast that Skyline Champion will post 3.79 earnings per share for the current year.

Insiders Place Their Bets

In other Skyline Champion news, Director Keith A. Anderson sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $72.64, for a total transaction of $726,400.00. Following the transaction, the director now owns 238,098 shares of the company’s stock, valued at $17,295,438.72. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, VP Timothy A. Burkhardt sold 4,113 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $71.04, for a total value of $292,187.52. Following the transaction, the vice president now owns 34,855 shares of the company’s stock, valued at $2,476,099.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Anderson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $72.64, for a total value of $726,400.00. Following the completion of the transaction, the director now directly owns 238,098 shares in the company, valued at approximately $17,295,438.72. The disclosure for this sale can be found here. Insiders have sold a total of 19,113 shares of company stock valued at $1,384,888 over the last 90 days. 7.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Skyline Champion

Several institutional investors and hedge funds have recently made changes to their positions in SKY. Ameritas Investment Partners Inc. grew its position in Skyline Champion by 3.7% during the second quarter. Ameritas Investment Partners Inc. now owns 4,428 shares of the company’s stock worth $290,000 after buying an additional 159 shares in the last quarter. Kingfisher Capital LLC grew its position in Skyline Champion by 0.4% during the first quarter. Kingfisher Capital LLC now owns 45,337 shares of the company’s stock worth $3,411,000 after buying an additional 167 shares in the last quarter. Arkadios Wealth Advisors grew its position in Skyline Champion by 3.2% during the third quarter. Arkadios Wealth Advisors now owns 5,345 shares of the company’s stock worth $341,000 after buying an additional 168 shares in the last quarter. Mariner LLC grew its position in Skyline Champion by 2.6% during the fourth quarter. Mariner LLC now owns 7,730 shares of the company’s stock worth $398,000 after buying an additional 197 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its position in Skyline Champion by 4.9% during the second quarter. Orion Portfolio Solutions LLC now owns 4,295 shares of the company’s stock worth $281,000 after buying an additional 199 shares in the last quarter.

Skyline Champion Company Profile

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.