Skyline Champion (NYSE:SKY) Shares Gap Down Following Weak Earnings

Skyline Champion Co. (NYSE:SKY)’s stock price gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $84.26, but opened at $74.95. Skyline Champion shares last traded at $73.33, with a volume of 245,674 shares.

The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). Skyline Champion had a return on equity of 13.80% and a net margin of 6.80%. The firm had revenue of $593.87 million for the quarter, compared to the consensus estimate of $595.42 million. During the same period in the prior year, the business earned $0.62 EPS. Skyline Champion’s quarterly revenue was up .7% compared to the same quarter last year.

Analysts Set New Price Targets

A number of analysts have issued reports on SKY shares. Barclays reduced their price target on shares of Skyline Champion from $106.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada raised their price target on shares of Skyline Champion from $88.00 to $96.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Skyline Champion currently has an average rating of “Hold” and an average target price of $88.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in Skyline Champion in the fourth quarter valued at about $36,000. AlphaQuest LLC grew its holdings in shares of Skyline Champion by 1,231.3% during the 1st quarter. AlphaQuest LLC now owns 852 shares of the company’s stock valued at $81,000 after purchasing an additional 788 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Skyline Champion by 645.5% in the 4th quarter. Sterling Capital Management LLC now owns 917 shares of the company’s stock worth $81,000 after purchasing an additional 794 shares during the period. GAMMA Investing LLC lifted its position in shares of Skyline Champion by 306.0% during the 1st quarter. GAMMA Investing LLC now owns 1,015 shares of the company’s stock valued at $96,000 after acquiring an additional 765 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Skyline Champion in the 4th quarter worth $108,000.

Skyline Champion Stock Performance

The company has a market cap of $4.04 billion, a P/E ratio of 24.81 and a beta of 1.37. The company’s 50-day moving average is $87.27 and its two-hundred day moving average is $93.76. The company has a quick ratio of 1.74, a current ratio of 2.59 and a debt-to-equity ratio of 0.02.

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.