Principal Financial Group Inc. Sells 14,649 Shares of Skyline Champion Co. (NYSE:SKY)

Principal Financial Group Inc. reduced its stake in shares of Skyline Champion Co. (NYSE:SKY - Free Report) by 77.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,323 shares of the company's stock after selling 14,649 shares during the quarter. Principal Financial Group Inc.'s holdings in Skyline Champion were worth $410,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in Skyline Champion during the third quarter valued at $32,000. Quarry LP purchased a new position in Skyline Champion during the 3rd quarter valued at about $67,000. nVerses Capital LLC bought a new stake in Skyline Champion during the third quarter worth about $76,000. MML Investors Services LLC purchased a new stake in Skyline Champion in the third quarter worth about $216,000. Finally, CWM LLC increased its stake in shares of Skyline Champion by 7.4% during the third quarter. CWM LLC now owns 2,286 shares of the company's stock valued at $217,000 after purchasing an additional 158 shares in the last quarter.

Skyline Champion Stock Performance

NYSE:SKY traded down $1.41 on Monday, hitting $89.02. The stock had a trading volume of 1,133,786 shares, compared to its average volume of 1,103,529. Skyline Champion Co. has a 52-week low of $64.82 and a 52-week high of $116.49. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of 34.37 and a beta of 1.63. 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 business's 50-day simple moving average is $97.17 and its two-hundred day simple moving average is $89.15.

Skyline Champion (NYSE:SKY - Get Free Report) last announced its earnings results on Monday, October 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the previous year, the business posted $0.82 earnings per share. The firm's quarterly revenue was up 32.9% compared to the same quarter last year. 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

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

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.