Skyline Champion (NYSE:SKY) Upgraded at Zelman & Associates

Skyline Champion (NYSE:SKY) was upgraded by stock analysts at Zelman & Associates from a “strong sell” rating to a “hold” rating in a research note issued on Thursday, MarketBeat Ratings reports.

A number of other equities analysts also recently commented on SKY. Barclays reduced their target price on shares of Skyline Champion from $97.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 28th. Royal Bank of Canada cut their price target on shares of Skyline Champion from $96.00 to $82.00 and set a “sector perform” rating for the company in a report on Wednesday, May 28th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $80.60.

Skyline Champion Stock Performance

Shares of Skyline Champion stock opened at $64.44 on Thursday. The business’s 50 day moving average price is $82.38 and its 200 day moving average price is $92.02. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 22.69 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 2.59. Skyline Champion has a one year low of $63.13 and a one year high of $116.49.

Skyline Champion (NYSE:SKY) last issued its earnings results on Tuesday, May 27th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The company had revenue of $593.87 million during the quarter, compared to analyst estimates of $595.42 million. Skyline Champion had a return on equity of 13.80% and a net margin of 6.80%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. On average, research analysts predict that Skyline Champion will post 3.63 EPS for the current year.

Skyline Champion declared that its board has approved a share buyback plan on Friday, May 30th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Skyline Champion

A number of institutional investors have recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd acquired a new position in shares of Skyline Champion in the 4th quarter worth approximately $36,000. AlphaQuest LLC raised its position in Skyline Champion by 1,231.3% in the first quarter. AlphaQuest LLC now owns 852 shares of the company’s stock valued at $81,000 after purchasing an additional 788 shares during the period. Sterling Capital Management LLC lifted its stake in Skyline Champion by 645.5% during the fourth quarter. Sterling Capital Management LLC now owns 917 shares of the company’s stock worth $81,000 after purchasing an additional 794 shares in the last quarter. GAMMA Investing LLC lifted its stake in Skyline Champion by 306.0% during the first quarter. GAMMA Investing LLC now owns 1,015 shares of the company’s stock worth $96,000 after purchasing an additional 765 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Skyline Champion during the fourth quarter worth $108,000.

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.