Skyline Champion (NYSE:SKY) Hits New 52-Week High – Time to Buy?

Skyline Champion Co. (NYSE:SKY) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $102.10 and last traded at $102.09, with a volume of 98282 shares trading hands. The stock had previously closed at $98.14.

Wall Street Analyst Weigh In

Several analysts have recently commented on SKY shares. Royal Bank of Canada increased 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. Jefferies Financial Group boosted their target price on shares of Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Barclays increased their price target on shares of Skyline Champion from $85.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. StockNews.com upgraded Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Wedbush restated a “neutral” rating and set a $64.00 target price on shares of Skyline Champion in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.40.

Skyline Champion Stock Up 1.9 %

The business’s fifty day simple moving average is $94.27 and its 200 day simple moving average is $83.66. The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.02. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 39.38 and a beta of 1.59.

Skyline Champion (NYSE:SKY) last released its 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. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The firm had revenue of $616.88 million for the quarter, compared to analyst estimates of $600.52 million. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The company’s quarterly revenue was up 32.9% on a year-over-year basis. Equities analysts forecast that Skyline Champion Co. will post 3.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mak Capital One Llc sold 40,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $88.87, for a total transaction of $3,554,800.00. Following the transaction, the director now directly owns 2,716,500 shares in the company, valued at approximately $241,415,355. The trade was a 1.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.90% of the company’s stock.

Institutional Trading of Skyline Champion

Institutional investors and hedge funds have recently bought and sold shares of the business. Truvestments Capital LLC acquired a new position in Skyline Champion in the 3rd quarter valued at about $32,000. Quarry LP bought a new stake in Skyline Champion in the 3rd quarter valued at $67,000. nVerses Capital LLC acquired a new position in Skyline Champion in the 3rd quarter valued at $76,000. Kessler Investment Group LLC lifted its holdings in shares of Skyline Champion by 41.0% during the second quarter. Kessler Investment Group LLC now owns 2,225 shares of the company’s stock worth $151,000 after buying an additional 647 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Skyline Champion by 77,800.0% in the second quarter. Blue Trust Inc. now owns 3,116 shares of the company’s stock valued at $211,000 after acquiring an additional 3,112 shares during the period.

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.