Skyline Champion (NYSE:SKY) Hits New 12-Month High at $86.88

Shares of Skyline Champion Co. (NYSE:SKY) reached a new 52-week high during trading on Wednesday . The stock traded as high as $86.88 and last traded at $85.80, with a volume of 7220 shares. The stock had previously closed at $86.17.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SKY shares. 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 research report on Thursday, May 23rd. Royal Bank of Canada increased their target price on Skyline Champion from $68.00 to $82.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Wedbush reaffirmed a “neutral” rating and issued a $64.00 price target on shares of Skyline Champion in a research note on Wednesday, August 7th. Barclays increased their price objective on Skyline Champion from $68.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, StockNews.com raised shares of Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $78.75.

Skyline Champion Price Performance

The firm has a market cap of $4.93 billion, a PE ratio of 33.93 and a beta of 1.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.33 and a quick ratio of 1.57. The firm has a 50-day simple moving average of $73.65 and a 200 day simple moving average of $76.87.

Skyline Champion (NYSE:SKY) last announced its earnings results on Tuesday, August 6th. The company reported $0.91 earnings per share for the quarter, beating 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 net margin of 6.45% and a return on equity of 13.07%. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 earnings per share. As a group, equities analysts expect that Skyline Champion Co. will post 2.97 EPS for the current year.

Insider Transactions at Skyline Champion

In related news, EVP Joseph A. Kimmell sold 10,042 shares of the company’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 transaction, the executive vice president now directly owns 47,262 shares of the company’s stock, valued at approximately $3,314,011.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Erin Mulligan Nelson sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $83.18, for a total transaction of $83,180.00. Following the completion of the transaction, the director now directly owns 5,170 shares of the company’s stock, valued at $430,040.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph A. Kimmell sold 10,042 shares of the firm’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 transaction of $704,145.04. Following the completion of the sale, the executive vice president now owns 47,262 shares in the company, valued at approximately $3,314,011.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,538 shares of company stock worth $1,783,616. Corporate insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SKY. Mirae Asset Global Investments Co. Ltd. raised its position in Skyline Champion by 5.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,606 shares of the company’s stock worth $1,827,000 after acquiring an additional 1,340 shares during the period. Cerity Partners LLC raised its holdings in Skyline Champion by 1,363.7% in the 4th quarter. Cerity Partners LLC now owns 81,293 shares of the company’s stock worth $6,037,000 after purchasing an additional 75,739 shares during the period. Mackenzie Financial Corp purchased a new position in Skyline Champion during the fourth quarter valued at $246,000. Kornitzer Capital Management Inc. KS bought a new stake in Skyline Champion during the fourth quarter valued at about $11,383,000. Finally, Meritage Portfolio Management increased its position in Skyline Champion by 5.4% in the fourth quarter. Meritage Portfolio Management now owns 5,223 shares of the company’s stock worth $388,000 after buying an additional 269 shares in the last quarter.

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.