Arizona State Retirement System Decreases Stake in Skyline Champion Co. (NYSE:SKY)

Arizona State Retirement System cut its holdings in Skyline Champion Co. (NYSE:SKY) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,174 shares of the company’s stock after selling 280 shares during the quarter. Arizona State Retirement System’s holdings in Skyline Champion were worth $1,127,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB purchased a new stake in shares of Skyline Champion in the fourth quarter valued at approximately $4,775,000. William Blair Investment Management LLC boosted its position in Skyline Champion by 19.1% during the third quarter. William Blair Investment Management LLC now owns 1,112,034 shares of the company’s stock worth $70,859,000 after purchasing an additional 178,099 shares in the last quarter. Burgundy Asset Management Ltd. boosted its position in Skyline Champion by 5.7% during the third quarter. Burgundy Asset Management Ltd. now owns 600,406 shares of the company’s stock worth $38,258,000 after purchasing an additional 32,480 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in Skyline Champion during the third quarter worth $2,482,000. Finally, AlphaMark Advisors LLC purchased a new stake in Skyline Champion during the fourth quarter worth $300,000.

Analysts Set New Price Targets

SKY has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their target price on Skyline Champion from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 7th. Wedbush reiterated a “neutral” rating and issued a $72.00 target price on shares of Skyline Champion in a research note on Tuesday, February 6th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $71.40.

Skyline Champion Stock Performance

Skyline Champion stock opened at $78.13 on Tuesday. The firm has a market capitalization of $4.51 billion, a P/E ratio of 22.39 and a beta of 1.53. The stock has a fifty day moving average price of $81.74 and a 200 day moving average price of $70.84. Skyline Champion Co. has a 52 week low of $52.12 and a 52 week high of $86.71. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.02.

Skyline Champion (NYSE:SKY) last released its earnings results on Monday, February 5th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.70 by $0.12. The firm had revenue of $559.46 million during the quarter, compared to analyst estimates of $505.20 million. Skyline Champion had a return on equity of 15.45% and a net margin of 10.19%. Equities research analysts anticipate that Skyline Champion Co. will post 3.19 earnings per share for the current year.

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.