Skyline Champion (NYSE:SKY) Sees Strong Trading Volume – Here’s What Happened

Skyline Champion Co. (NYSE:SKY) saw strong trading volume on Monday . 925,176 shares traded hands during trading, an increase of 143% from the previous session’s volume of 381,360 shares.The stock last traded at $102.86 and had previously closed at $105.37.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Craig Hallum raised their price objective on shares of Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their target price on shares of Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Barclays lifted their target price on shares of Skyline Champion from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group lifted their target price on shares of Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $85.40.

Skyline Champion Price Performance

The business’s 50-day moving average price is $98.01 and its 200 day moving average price is $87.28. The company has a quick ratio of 1.64, a current ratio of 2.42 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $5.47 billion, a P/E ratio of 36.78 and a beta of 1.59.

Skyline Champion (NYSE:SKY) last released its quarterly earnings data on Monday, October 28th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.32. Skyline Champion had a net margin of 6.42% and a return on equity of 13.20%. The company had revenue of $616.88 million during the quarter, compared to analyst estimates of $600.52 million. During the same period last year, the business earned $0.82 earnings per share. Skyline Champion’s revenue was up 32.9% compared to the same quarter last year. Analysts anticipate that Skyline Champion Co. will post 3.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Skyline Champion

A number of large investors have recently modified their holdings of the company. Summit Partners Public Asset Management LLC lifted its position in Skyline Champion by 23.3% during the third quarter. Summit Partners Public Asset Management LLC now owns 404,673 shares of the company’s stock valued at $38,383,000 after purchasing an additional 76,573 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Skyline Champion by 38.6% during the second quarter. Canada Pension Plan Investment Board now owns 42,700 shares of the company’s stock valued at $2,893,000 after purchasing an additional 11,900 shares during the last quarter. Algert Global LLC lifted its position in Skyline Champion by 164.1% during the third quarter. Algert Global LLC now owns 14,590 shares of the company’s stock valued at $1,384,000 after purchasing an additional 9,066 shares during the last quarter. Victory Capital Management Inc. lifted its position in Skyline Champion by 46.0% during the second quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock valued at $45,385,000 after purchasing an additional 211,099 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Skyline Champion during the third quarter valued at approximately $2,369,000.

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.