Skyline Champion (NYSE:SKY) Rating Increased to Hold at StockNews.com

Skyline Champion (NYSE:SKY) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

SKY has been the topic of several other reports. Royal Bank of Canada boosted their target price on shares of Skyline Champion from $68.00 to $82.00 and gave the company a “sector perform” rating in a report on Thursday. Craig Hallum lowered their price objective on Skyline Champion from $88.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Barclays reduced their target price on Skyline Champion from $76.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 29th. Finally, Wedbush reiterated a “neutral” rating and set a $64.00 price target on shares of Skyline Champion in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $74.50.

Skyline Champion Price Performance

Shares of NYSE:SKY traded up $0.90 during midday trading on Thursday, hitting $83.27. The company had a trading volume of 384,807 shares, compared to its average volume of 341,014. Skyline Champion has a twelve month low of $52.12 and a twelve month high of $86.81. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 32.77 and a beta of 1.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.36 and a quick ratio of 1.54. The business’s 50-day simple moving average is $72.98 and its 200-day simple moving average is $76.53.

Skyline Champion (NYSE:SKY) last issued its earnings results on Tuesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. The business had revenue of $627.80 million during the quarter, compared to the consensus estimate of $600.39 million. Skyline Champion had a return on equity of 13.20% and a net margin of 6.45%. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period last year, the company earned $0.89 EPS. On average, research analysts predict that Skyline Champion will post 2.76 earnings per share for the current year.

Insider Buying and Selling at Skyline Champion

In other Skyline Champion news, insider Timothy Mark Larson sold 3,500 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $71.98, for a total value of $251,930.00. Following the sale, the insider now directly owns 48,800 shares of the company’s stock, valued at approximately $3,512,624. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Timothy Mark Larson sold 3,500 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $71.98, for a total value of $251,930.00. Following the transaction, the insider now owns 48,800 shares in the company, valued at approximately $3,512,624. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Joseph A. Kimmell sold 10,042 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $70.12, for a total value of $704,145.04. Following the sale, the executive vice president now owns 47,262 shares of the company’s stock, valued at approximately $3,314,011.44. The disclosure for this sale can be found here. 6.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in Skyline Champion during the 1st quarter worth approximately $63,000. Kessler Investment Group LLC purchased a new position in Skyline Champion in the 4th quarter valued at $123,000. Blue Trust Inc. grew its position in Skyline Champion by 77,800.0% in the 2nd quarter. Blue Trust Inc. now owns 3,116 shares of the company’s stock valued at $211,000 after buying an additional 3,112 shares during the last quarter. Cannon Global Investment Management LLC acquired a new position in Skyline Champion in the 2nd quarter valued at $217,000. Finally, Vestmark Advisory Solutions Inc. purchased a new position in Skyline Champion during the 4th quarter worth $219,000.

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.