Skyline Champion (NYSE:SKY) Hits New 12-Month High – Here’s Why

Skyline Champion Co. (NYSE:SKY)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $114.00 and last traded at $114.00, with a volume of 4571 shares traded. The stock had previously closed at $104.22.

Analysts Set New Price Targets

A number of brokerages have issued reports on SKY. Craig Hallum boosted their price target on shares of Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays upped their price target on Skyline Champion from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Royal Bank of Canada upped their price target on Skyline Champion from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their price objective on Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. 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, Skyline Champion presently has an average rating of “Hold” and a consensus price target of $85.40.

Skyline Champion Price Performance

The company has a 50-day simple moving average of $96.40 and a 200-day simple moving average of $85.48. The stock has a market cap of $6.54 billion, a PE ratio of 43.67 and a beta of 1.59. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.42 and a quick ratio of 1.64.

Skyline Champion (NYSE:SKY) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.32. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The business had revenue of $616.88 million during the quarter, compared to analysts’ expectations of $600.52 million. During the same quarter last year, the business posted $0.82 earnings per share. The business’s revenue for the quarter was up 32.9% on a year-over-year basis. Sell-side analysts anticipate that Skyline Champion Co. will post 3.43 EPS for the current fiscal year.

Institutional Trading of Skyline Champion

Hedge funds have recently added to or reduced their stakes in the business. Kessler Investment Group LLC grew its stake in shares of Skyline Champion by 41.0% in the second quarter. Kessler Investment Group LLC now owns 2,225 shares of the company’s stock worth $151,000 after purchasing an additional 647 shares in the last quarter. Blue Trust Inc. increased its position in Skyline Champion by 77,800.0% in the 2nd quarter. Blue Trust Inc. now owns 3,116 shares of the company’s stock worth $211,000 after purchasing an additional 3,112 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Skyline Champion by 4.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 844,367 shares of the company’s stock valued at $57,206,000 after acquiring an additional 35,880 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Skyline Champion by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 11,262 shares of the company’s stock valued at $763,000 after acquiring an additional 216 shares during the last quarter. Finally, Penbrook Management LLC increased its holdings in shares of Skyline Champion by 2.7% during the 2nd quarter. Penbrook Management LLC now owns 9,810 shares of the company’s stock valued at $665,000 after acquiring an additional 260 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.