Norges Bank Purchases New Position in Skyline Champion Co. (NYSE:SKY)

Norges Bank acquired a new position in Skyline Champion Co. (NYSE:SKY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 787,126 shares of the company's stock, valued at approximately $69,346,000. Norges Bank owned 1.37% of Skyline Champion as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of SKY. JPMorgan Chase & Co. grew its holdings in Skyline Champion by 137.5% during the third quarter. JPMorgan Chase & Co. now owns 127,307 shares of the company's stock valued at $12,075,000 after purchasing an additional 73,697 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Skyline Champion by 80.7% during the fourth quarter. Bank of New York Mellon Corp now owns 351,060 shares of the company's stock worth $30,928,000 after buying an additional 156,757 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Skyline Champion by 26.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 119,154 shares of the company's stock valued at $10,497,000 after buying an additional 24,781 shares during the last quarter. Van ECK Associates Corp boosted its position in Skyline Champion by 21.8% in the 4th quarter. Van ECK Associates Corp now owns 40,108 shares of the company's stock valued at $3,534,000 after buying an additional 7,184 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Skyline Champion by 85.0% during the 4th quarter. Rhumbline Advisers now owns 151,781 shares of the company's stock worth $13,372,000 after buying an additional 69,756 shares during the period.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Royal Bank of Canada boosted their price objective on Skyline Champion from $88.00 to $96.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Barclays lifted their price target on Skyline Champion from $90.00 to $106.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $90.20.

Insider Activity

In other news, EVP Joseph A. Kimmell sold 4,335 shares of Skyline Champion stock in a transaction on Monday, February 10th. The stock was sold at an average price of $104.21, for a total transaction of $451,750.35. Following the sale, the executive vice president now directly owns 39,411 shares in the company, valued at $4,107,020.31. The trade was a 9.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Timothy A. Burkhardt sold 3,823 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $106.87, for a total transaction of $408,564.01. Following the sale, the vice president now directly owns 32,706 shares in the company, valued at approximately $3,495,290.22. This trade represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by company insiders.

Skyline Champion Price Performance

NYSE:SKY traded up $0.72 during trading hours on Friday, hitting $86.97. The company's stock had a trading volume of 651,384 shares, compared to its average volume of 519,142. The company has a market capitalization of $4.98 billion, a P/E ratio of 30.62 and a beta of 1.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.59 and a quick ratio of 1.74. The stock has a fifty day simple moving average of $97.78 and a 200-day simple moving average of $95.91. Skyline Champion Co. has a twelve month low of $64.82 and a twelve month high of $116.49.

Skyline Champion (NYSE:SKY - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.80 by $0.24. Skyline Champion had a net margin of 6.80% and a return on equity of 13.80%. On average, analysts anticipate that Skyline Champion Co. will post 3.63 EPS for the current fiscal 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.