Skyline Champion (NYSE:SKY) PT Raised to $85.00

Skyline Champion (NYSE:SKY) had its price objective raised by Barclays from $68.00 to $85.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also weighed in on SKY. Royal Bank of Canada boosted their target price on Skyline Champion from $68.00 to $82.00 and gave the stock a sector perform rating in a report on Thursday, August 8th. Craig Hallum decreased their price objective on shares of Skyline Champion from $88.00 to $84.00 and set a buy rating on the stock in a report on Thursday, May 23rd. Wedbush restated a neutral rating and set a $64.00 target price on shares of Skyline Champion in a research note on Wednesday, August 7th. 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 given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $78.75.

Skyline Champion Stock Performance

Shares of SKY stock opened at $86.51 on Monday. The stock has a market cap of $5.00 billion, a P/E ratio of 34.06 and a beta of 1.57. The company has a fifty day moving average price of $74.00 and a two-hundred day moving average price of $76.94. Skyline Champion has a one year low of $52.12 and a one year high of $86.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.33 and a quick ratio of 1.57.

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, beating the consensus estimate 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%. Skyline Champion’s revenue was up 35.1% on a year-over-year basis. During the same period last year, the business posted $0.89 EPS. As a group, equities analysts predict that Skyline Champion will post 2.97 EPS for the current year.

Insiders Place Their Bets

In other news, insider Timothy Mark Larson sold 3,500 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $71.98, for a total value of $251,930.00. Following the completion of the sale, the insider now owns 48,800 shares of the company’s stock, valued at $3,512,624. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Skyline Champion news, Director Michael B. Berman sold 3,496 shares of the firm’s stock in a transaction 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 transaction, the director now owns 8,099 shares in the company, valued at approximately $666,871.66. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Timothy Mark Larson sold 3,500 shares of Skyline Champion stock in a transaction 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 completion of the transaction, the insider now directly owns 48,800 shares of the company’s stock, valued at $3,512,624. The disclosure for this sale can be found here. Insiders have sold 23,538 shares of company stock worth $1,783,616 in the last 90 days. Company insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SKY. Norges Bank acquired a new stake in Skyline Champion during the fourth quarter worth about $34,476,000. Victory Capital Management Inc. boosted its position in shares of Skyline Champion by 46.0% during the 2nd quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock worth $45,385,000 after acquiring an additional 211,099 shares in the last quarter. Kornitzer Capital Management Inc. KS bought a new position in Skyline Champion in the fourth quarter valued at approximately $11,383,000. Burgundy Asset Management Ltd. raised its position in Skyline Champion by 22.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 736,477 shares of the company’s stock valued at $54,691,000 after purchasing an additional 136,071 shares in the last quarter. Finally, Forge First Asset Management Inc. bought a new stake in Skyline Champion during the first quarter worth $9,398,000.

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.