Skyline Champion Co. (NYSE:SKY) Receives Average Rating of “Hold” from Brokerages

Skyline Champion Co. (NYSE:SKY) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $80.60.

SKY has been the subject of several research analyst reports. Zelman & Associates raised Skyline Champion from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 5th. Barclays reduced their price objective on Skyline Champion from $97.00 to $72.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 28th. Finally, Royal Bank of Canada reduced their price objective on Skyline Champion from $96.00 to $82.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 28th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SKY. Harvest Fund Management Co. Ltd acquired a new stake in shares of Skyline Champion in the 4th quarter worth $36,000. Sterling Capital Management LLC increased its stake 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 acquiring an additional 794 shares during the last quarter. AlphaQuest LLC increased its stake in shares of Skyline Champion by 1,231.3% in the 1st quarter. AlphaQuest LLC now owns 852 shares of the company’s stock worth $81,000 after acquiring an additional 788 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Skyline Champion by 306.0% in the 1st quarter. GAMMA Investing LLC now owns 1,015 shares of the company’s stock worth $96,000 after acquiring an additional 765 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Skyline Champion in the 4th quarter worth $108,000.

Skyline Champion Trading Down 5.3%

Shares of SKY stock opened at $61.34 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.59 and a quick ratio of 1.74. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 21.60 and a beta of 1.19. The stock has a 50 day simple moving average of $80.18 and a 200-day simple moving average of $90.56. Skyline Champion has a 1-year low of $61.28 and a 1-year high of $116.49.

Skyline Champion (NYSE:SKY) last announced its earnings results on Tuesday, May 27th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.10). The business had revenue of $593.87 million for 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 company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 earnings per share. On average, equities research analysts expect that Skyline Champion will post 3.63 EPS for the current fiscal year.

Skyline Champion declared that its board has approved a stock buyback plan on Friday, May 30th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

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.