Congress Asset Management Co. MA Boosts Stake in Skyline Champion Co. (NYSE:SKY)

Congress Asset Management Co. MA raised its position in Skyline Champion Co. (NYSE:SKY) by 14.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 497,594 shares of the company’s stock after buying an additional 63,578 shares during the period. Congress Asset Management Co. MA owned approximately 0.86% of Skyline Champion worth $36,951,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of Skyline Champion by 9.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 225,410 shares of the company’s stock valued at $16,739,000 after purchasing an additional 19,438 shares in the last quarter. Virtu Financial LLC raised its stake in shares of Skyline Champion by 16.1% in the 4th quarter. Virtu Financial LLC now owns 4,805 shares of the company’s stock valued at $357,000 after purchasing an additional 667 shares in the last quarter. Chilton Investment Co. Inc. raised its stake in shares of Skyline Champion by 7.0% in the 4th quarter. Chilton Investment Co. Inc. now owns 189,697 shares of the company’s stock valued at $14,087,000 after purchasing an additional 12,491 shares in the last quarter. Argent Capital Management LLC raised its stake in shares of Skyline Champion by 11.0% in the 4th quarter. Argent Capital Management LLC now owns 8,459 shares of the company’s stock valued at $628,000 after purchasing an additional 836 shares in the last quarter. Finally, Ranger Investment Management L.P. raised its stake in shares of Skyline Champion by 34.8% in the 4th quarter. Ranger Investment Management L.P. now owns 362,022 shares of the company’s stock valued at $26,884,000 after purchasing an additional 93,391 shares in the last quarter.

Skyline Champion Stock Performance

NYSE SKY traded down $0.43 on Friday, hitting $72.15. The stock had a trading volume of 314,148 shares, compared to its average volume of 374,431. Skyline Champion Co. has a one year low of $52.12 and a one year high of $86.71. The company has a quick ratio of 1.54, a current ratio of 2.36 and a debt-to-equity ratio of 0.02. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 28.41 and a beta of 1.60. The company’s 50-day moving average is $75.12 and its two-hundred day moving average is $75.46.

Skyline Champion (NYSE:SKY) last posted its earnings results on Tuesday, May 21st. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). Skyline Champion had a return on equity of 13.32% and a net margin of 7.24%. The firm had revenue of $536.36 million during the quarter, compared to the consensus estimate of $560.90 million. During the same quarter last year, the company posted $1.00 EPS. Skyline Champion’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts expect that Skyline Champion Co. will post 2.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wedbush restated a “neutral” rating and issued a $72.00 target price on shares of Skyline Champion in a research note on Wednesday, May 22nd. Craig Hallum dropped their price objective on shares of Skyline Champion from $88.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Royal Bank of Canada dropped their price objective on shares of Skyline Champion from $73.00 to $68.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 23rd. Barclays dropped their price objective on shares of Skyline Champion from $76.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 29th. Finally, StockNews.com lowered shares of Skyline Champion from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $70.80.

Insiders Place Their Bets

In other news, EVP Joseph A. Kimmell sold 10,042 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $70.12, for a total value of $704,145.04. Following the completion of the transaction, the executive vice president now directly owns 47,262 shares in the company, valued at $3,314,011.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.00% of the stock is owned by insiders.

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.