Victory Capital Management Inc. Buys 66,293 Shares of Skyline Champion Co. (NYSE:SKY)

Victory Capital Management Inc. increased its stake in shares of Skyline Champion Co. (NYSE:SKY) by 18.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 423,213 shares of the company’s stock after acquiring an additional 66,293 shares during the quarter. Victory Capital Management Inc.’s holdings in Skyline Champion were worth $31,428,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SKY. Vaughan Nelson Investment Management L.P. lifted its holdings in Skyline Champion by 106.2% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 601,892 shares of the company’s stock worth $38,353,000 after buying an additional 310,065 shares in the last quarter. William Blair Investment Management LLC lifted its stake in shares of 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 valued at $70,859,000 after acquiring an additional 178,099 shares during the period. Kornitzer Capital Management Inc. KS bought a new position in Skyline Champion in the fourth quarter valued at about $11,383,000. Cerity Partners LLC increased its position in Skyline Champion by 1,363.7% in the fourth quarter. Cerity Partners LLC now owns 81,293 shares of the company’s stock worth $6,037,000 after purchasing an additional 75,739 shares during the period. Finally, Congress Asset Management Co. MA raised its holdings in Skyline Champion by 18.1% during the 3rd quarter. Congress Asset Management Co. MA now owns 434,016 shares of the company’s stock worth $27,656,000 after purchasing an additional 66,448 shares during the last quarter.

Skyline Champion Stock Performance

Shares of NYSE:SKY opened at $79.60 on Wednesday. The firm’s 50 day simple moving average is $80.43 and its 200 day simple moving average is $72.37. Skyline Champion Co. has a fifty-two week low of $52.12 and a fifty-two week high of $86.71. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 22.81 and a beta of 1.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 1.71.

Skyline Champion (NYSE:SKY) last posted its earnings results on Monday, February 5th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.12. The company had revenue of $559.46 million for the quarter, compared to analyst estimates of $505.20 million. Skyline Champion had a net margin of 10.19% and a return on equity of 15.45%. As a group, sell-side analysts forecast that Skyline Champion Co. will post 3.19 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SKY shares. Wedbush reiterated a “neutral” rating and set a $72.00 price target on shares of Skyline Champion in a research report on Tuesday, February 6th. Royal Bank of Canada lifted their target price on shares of Skyline Champion from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. 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, Skyline Champion currently has a consensus rating of “Hold” and an average price target of $71.40.

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.