Skyline Champion Co. (NYSE:SKY) Director Sells $287,860.64 in Stock

Skyline Champion Co. (NYSE:SKY) Director Michael B. Berman sold 3,496 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $82.34, for a total transaction of $287,860.64. Following the sale, the director now directly owns 8,099 shares of the company’s stock, valued at approximately $666,871.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Skyline Champion Trading Up 1.8 %

NYSE SKY traded up $1.49 on Tuesday, hitting $85.59. The company’s stock had a trading volume of 404,919 shares, compared to its average volume of 342,174. The company has a quick ratio of 1.57, a current ratio of 2.33 and a debt-to-equity ratio of 0.02. Skyline Champion Co. has a 1-year low of $52.12 and a 1-year high of $86.81. The company’s 50-day moving average is $73.27 and its 200 day moving average is $76.75. The firm has a market cap of $4.93 billion, a PE ratio of 33.70 and a beta of 1.57.

Skyline Champion (NYSE:SKY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.22. Skyline Champion had a net margin of 6.45% and a return on equity of 13.07%. The firm had revenue of $627.80 million during the quarter, compared to analysts’ expectations of $600.39 million. During the same period in the prior year, the company posted $0.89 EPS. The company’s revenue was up 35.1% on a year-over-year basis. As a group, analysts predict that Skyline Champion Co. will post 2.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SKY has been the subject of a number of recent analyst reports. Craig Hallum cut their price target on shares of Skyline Champion from $88.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Wedbush reaffirmed a “neutral” rating and set a $64.00 price target on shares of Skyline Champion in a report on Wednesday, August 7th. Royal Bank of Canada upped their price target on shares of Skyline Champion from $68.00 to $82.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Barclays upped their price target on shares of Skyline Champion from $68.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, StockNews.com raised shares of Skyline Champion from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. 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.com, Skyline Champion currently has an average rating of “Hold” and a consensus target price of $78.75.

Hedge Funds Weigh In On Skyline Champion

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Skyline Champion during the fourth quarter worth $34,476,000. Victory Capital Management Inc. increased its position in shares of Skyline Champion by 46.0% during the second quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock worth $45,385,000 after buying an additional 211,099 shares during the period. Kornitzer Capital Management Inc. KS acquired a new stake in shares of Skyline Champion during the fourth quarter worth $11,383,000. Burgundy Asset Management Ltd. increased its position in shares of Skyline Champion by 22.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 736,477 shares of the company’s stock worth $54,691,000 after buying an additional 136,071 shares during the period. Finally, Forge First Asset Management Inc. acquired a new stake in shares of Skyline Champion during the first quarter worth $9,398,000.

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.