Jennison Associates LLC Makes New Investment in Skyline Champion Co. (NYSE:SKY)

Jennison Associates LLC purchased a new stake in shares of Skyline Champion Co. (NYSE:SKY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 7,475 shares of the company's stock, valued at approximately $659,000.

A number of other hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in Skyline Champion by 137.5% during the third quarter. JPMorgan Chase & Co. now owns 127,307 shares of the company's stock worth $12,075,000 after purchasing an additional 73,697 shares in the last quarter. Summit Partners Public Asset Management LLC boosted its holdings in Skyline Champion by 23.3% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 404,673 shares of the company's stock valued at $38,383,000 after acquiring an additional 76,573 shares during the period. Algert Global LLC grew its position in Skyline Champion by 164.1% in the 3rd quarter. Algert Global LLC now owns 14,590 shares of the company's stock valued at $1,384,000 after acquiring an additional 9,066 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Skyline Champion by 26.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 119,154 shares of the company's stock worth $10,497,000 after purchasing an additional 24,781 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Skyline Champion in the third quarter valued at approximately $2,369,000.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Craig Hallum boosted their price target on shares of Skyline Champion from $92.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Barclays upped their target price on shares of Skyline Champion from $90.00 to $106.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada upped their price target on Skyline Champion from $88.00 to $96.00 and gave the company a "sector perform" rating in a report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $90.20.

Skyline Champion Price Performance

SKY stock traded up $0.08 during midday trading on Tuesday, hitting $105.52. 478,948 shares of the stock were exchanged, compared to its average volume of 706,068. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.64 and a current ratio of 2.59. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 37.15 and a beta of 1.62. Skyline Champion Co. has a fifty-two week low of $64.82 and a fifty-two week high of $116.49. The stock's 50-day moving average price is $94.77 and its 200-day moving average price is $92.93.

Skyline Champion (NYSE:SKY - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.24. Skyline Champion had a return on equity of 13.80% and a net margin of 6.80%. Research analysts predict that Skyline Champion Co. will post 3.54 earnings per share for the current year.

Skyline Champion 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.