Skyline Champion Co. (NYSE:SKY) Stake Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in Skyline Champion Co. (NYSE:SKY - Free Report) by 137.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,307 shares of the company's stock after buying an additional 73,697 shares during the period. JPMorgan Chase & Co. owned about 0.22% of Skyline Champion worth $12,075,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Rhumbline Advisers increased its stake in Skyline Champion by 2.9% during the second quarter. Rhumbline Advisers now owns 86,947 shares of the company's stock valued at $5,891,000 after purchasing an additional 2,449 shares during the last quarter. William Blair Investment Management LLC increased its stake in Skyline Champion by 0.3% during the second quarter. William Blair Investment Management LLC now owns 1,197,889 shares of the company's stock valued at $81,157,000 after purchasing an additional 3,313 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Skyline Champion by 30.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 8,067 shares of the company's stock valued at $547,000 after purchasing an additional 1,885 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Skyline Champion by 2.8% during the second quarter. Envestnet Asset Management Inc. now owns 27,345 shares of the company's stock valued at $1,853,000 after purchasing an additional 737 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Skyline Champion during the second quarter valued at $923,000.

Skyline Champion Price Performance

SKY stock traded up $0.96 during trading on Monday, hitting $86.97. The company had a trading volume of 382,552 shares, compared to its average volume of 849,022. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 33.58 and a beta of 1.63. The business has a 50 day moving average of $96.80 and a 200 day moving average of $89.88. Skyline Champion Co. has a fifty-two week low of $64.82 and a fifty-two week high of $116.49. The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.02.

Skyline Champion (NYSE:SKY - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.32. The business had revenue of $616.88 million during the quarter, compared to the consensus estimate of $600.52 million. Skyline Champion had a net margin of 6.42% and a return on equity of 13.20%. The company's quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 earnings per share. As a group, research analysts predict that Skyline Champion Co. will post 3.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.