Skyline Champion (NYSE:SKY) PT Raised to $85.00

Skyline Champion (NYSE:SKY) had its price target raised by analysts at Barclays from $68.00 to $85.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential downside of 1.36% from the stock’s previous close.

Several other research firms also recently weighed in on SKY. Craig Hallum cut their price objective on Skyline Champion from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. StockNews.com upgraded Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Royal Bank of Canada boosted their price target on Skyline Champion from $68.00 to $82.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Finally, Wedbush reiterated a “neutral” rating and issued a $64.00 price objective on shares of Skyline Champion in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Skyline Champion has a consensus rating of “Hold” and an average price target of $78.75.

Skyline Champion Price Performance

Shares of SKY stock opened at $86.17 on Monday. The business has a fifty day simple moving average of $73.65 and a 200 day simple moving average of $76.87. The company has a market cap of $4.96 billion, a P/E ratio of 33.93 and a beta of 1.57. The company has a quick ratio of 1.57, a current ratio of 2.33 and a debt-to-equity ratio of 0.02. Skyline Champion has a twelve month low of $52.12 and a twelve month high of $86.81.

Skyline Champion (NYSE:SKY) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. Skyline Champion had a net margin of 6.45% and a return on equity of 13.07%. The business had revenue of $627.80 million during the quarter, compared to analysts’ expectations of $600.39 million. During the same period in the prior year, the company earned $0.89 EPS. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. On average, sell-side analysts forecast that Skyline Champion will post 2.97 EPS for the current fiscal year.

Insider Buying and Selling at Skyline Champion

In other news, EVP Joseph A. Kimmell sold 10,042 shares of Skyline Champion stock in a transaction 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 sale, the executive vice president now owns 47,262 shares in the company, valued at approximately $3,314,011.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Skyline Champion news, EVP Joseph A. Kimmell sold 10,042 shares of the firm’s stock in a transaction 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 sale, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timothy Mark Larson sold 3,500 shares of Skyline Champion stock in a transaction on Friday, June 14th. The shares were sold at an average price of $71.98, for a total transaction of $251,930.00. Following the completion of the sale, the insider now directly owns 48,800 shares of the company’s stock, valued at $3,512,624. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,538 shares of company stock valued at $1,783,616. 6.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Skyline Champion

Several hedge funds and other institutional investors have recently modified their holdings of the company. Zhang Financial LLC acquired a new stake in Skyline Champion in the 1st quarter valued at $850,000. Cerity Partners LLC increased its position in shares of Skyline Champion by 1,363.7% during the fourth quarter. Cerity Partners LLC now owns 81,293 shares of the company’s stock worth $6,037,000 after acquiring an additional 75,739 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings 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 worth $16,739,000 after acquiring an additional 19,438 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Skyline Champion by 378.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 33,669 shares of the company’s stock valued at $2,500,000 after acquiring an additional 26,631 shares in the last quarter. Finally, UBS Group AG boosted its stake in Skyline Champion by 46.0% during the 4th quarter. UBS Group AG now owns 81,214 shares of the company’s stock valued at $6,031,000 after purchasing an additional 25,592 shares during the last quarter.

Skyline Champion Company 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.