Skyline Champion Co. (NYSE:SKY - Get Free Report)'s share price was down 5% during trading on Monday . The stock traded as low as $91.17 and last traded at $91.20. Approximately 393,471 shares traded hands during trading, a decline of 10% from the average daily volume of 438,759 shares. The stock had previously closed at $96.03.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. Craig Hallum lifted their target price on Skyline Champion from $92.00 to $99.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Barclays boosted their target price on shares of Skyline Champion from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. Royal Bank of Canada raised their price target on shares of Skyline Champion from $82.00 to $88.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group upped their price objective 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. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $85.40.
Get Our Latest Analysis on SKY
Skyline Champion Price Performance
The stock has a market capitalization of $5.24 billion, a P/E ratio of 35.23 and a beta of 1.59. The business's 50 day simple moving average is $98.10 and its two-hundred day simple moving average is $87.80. The company has a quick ratio of 1.64, a current ratio of 2.42 and a debt-to-equity ratio of 0.02.
Skyline Champion (NYSE:SKY - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.32. The business had revenue of $616.88 million for the quarter, compared to analysts' expectations of $600.52 million. Skyline Champion had a net margin of 6.42% and a return on equity of 13.20%. The firm's revenue for the quarter was up 32.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 EPS. As a group, sell-side analysts forecast that Skyline Champion Co. will post 3.43 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of SKY. Summit Partners Public Asset Management LLC lifted its stake 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 in the last quarter. Canada Pension Plan Investment Board grew its position in Skyline Champion by 38.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 42,700 shares of the company's stock worth $2,893,000 after purchasing an additional 11,900 shares in the last quarter. Algert Global LLC lifted its position in shares of Skyline Champion by 164.1% during the 3rd quarter. Algert Global LLC now owns 14,590 shares of the company's stock worth $1,384,000 after buying an additional 9,066 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Skyline Champion by 46.0% in the 2nd quarter. Victory Capital Management Inc. now owns 669,895 shares of the company's stock worth $45,385,000 after buying an additional 211,099 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Skyline Champion in the third quarter valued at approximately $2,369,000.
About Skyline Champion
(
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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.
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