Raymond James Financial Inc. Buys New Position in Skyline Champion Co. (NYSE:SKY)

Raymond James Financial Inc. purchased a new stake in Skyline Champion Co. (NYSE:SKY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 73,247 shares of the company's stock, valued at approximately $6,453,000. Raymond James Financial Inc. owned about 0.13% of Skyline Champion at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SKY. JPMorgan Chase & Co. lifted its position in shares of Skyline Champion by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 127,307 shares of the company's stock valued at $12,075,000 after buying 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% in the fourth quarter. Bank of New York Mellon Corp now owns 351,060 shares of the company's stock valued at $30,928,000 after purchasing an additional 156,757 shares during the last quarter. Harbor Capital Advisors Inc. raised its position 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 purchasing an additional 24,781 shares during the period. Van ECK Associates Corp raised its position in shares of Skyline Champion by 21.8% in the fourth quarter. Van ECK Associates Corp now owns 40,108 shares of the company's stock valued at $3,534,000 after purchasing an additional 7,184 shares during the period. Finally, Rhumbline Advisers lifted its stake 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 last quarter.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SKY shares. Barclays lowered their price target on shares of Skyline Champion from $106.00 to $97.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada upped their price objective 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $88.40.

Skyline Champion Price Performance

Shares of NYSE SKY traded down $0.78 during trading hours on Friday, hitting $84.73. 260,938 shares of the stock were exchanged, compared to its average volume of 533,631. The company's fifty day simple moving average is $91.93 and its two-hundred day simple moving average is $94.58. The company has a market cap of $4.85 billion, a PE ratio of 29.83 and a beta of 1.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 2.59. Skyline Champion Co. has a 1-year low of $64.82 and a 1-year high of $116.49.

Skyline Champion (NYSE:SKY - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.24. Skyline Champion had a return on equity of 13.80% and a net margin of 6.80%. On average, sell-side analysts predict that Skyline Champion Co. will post 3.63 EPS for the current year.

Insider Buying and Selling at Skyline Champion

In related news, VP Timothy A. Burkhardt sold 3,823 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $106.87, for a total value of $408,564.01. Following the completion of the transaction, the vice president now owns 32,706 shares in the company, valued at $3,495,290.22. This trade represents a 10.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph A. Kimmell sold 4,335 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $104.21, for a total transaction of $451,750.35. Following the completion of the transaction, the executive vice president now owns 39,411 shares of the company's stock, valued at approximately $4,107,020.31. This trade represents a 9.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.90% of the company's stock.

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.