Craig Hallum Forecasts Strong Price Appreciation for Skyline Champion (NYSE:SKY) Stock

Skyline Champion (NYSE:SKY) had its target price lifted by Craig Hallum from $92.00 to $99.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also commented on SKY. StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Jefferies Financial Group upped their target price on shares of Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Barclays raised their price target on shares of Skyline Champion from $68.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Wedbush reissued a “neutral” rating and issued a $64.00 price objective on shares of Skyline Champion in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada lifted their target price on Skyline Champion from $68.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Skyline Champion presently has a consensus rating of “Hold” and an average price target of $84.40.

Skyline Champion Price Performance

Skyline Champion stock opened at $90.00 on Wednesday. The firm has a fifty day moving average of $92.56 and a 200-day moving average of $81.42. Skyline Champion has a 52-week low of $52.12 and a 52-week high of $101.39. The company has a quick ratio of 1.57, a current ratio of 2.33 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $5.18 billion, a P/E ratio of 34.75 and a beta of 1.57.

Skyline Champion (NYSE:SKY) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.32. The firm had revenue of $616.88 million during the quarter, compared to the consensus estimate of $600.52 million. Skyline Champion had a return on equity of 13.07% and a net margin of 6.45%. The firm’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 EPS. As a group, analysts predict that Skyline Champion will post 3.01 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Laurie M. Hough sold 5,354 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $88.64, for a total value of $474,578.56. Following the sale, the chief financial officer now owns 105,153 shares in the company, valued at approximately $9,320,761.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Erin Mulligan Nelson sold 1,000 shares of Skyline Champion stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $83.18, for a total value of $83,180.00. Following the completion of the transaction, the director now owns 5,170 shares in the company, valued at approximately $430,040.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Laurie M. Hough sold 5,354 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $88.64, for a total value of $474,578.56. Following the sale, the chief financial officer now directly owns 105,153 shares in the company, valued at approximately $9,320,761.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,636 shares of company stock valued at $14,582,253 in the last ninety days. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of Skyline Champion

Several institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans boosted its holdings in shares of Skyline Champion by 2.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,642,123 shares of the company’s stock valued at $179,004,000 after buying an additional 53,965 shares during the period. William Blair Investment Management LLC boosted its stake in Skyline Champion by 0.3% in the second quarter. William Blair Investment Management LLC now owns 1,197,889 shares of the company’s stock valued at $81,157,000 after acquiring an additional 3,313 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Skyline Champion by 4.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 844,367 shares of the company’s stock valued at $57,206,000 after purchasing an additional 35,880 shares during the last quarter. Burgundy Asset Management Ltd. raised its position in shares of Skyline Champion by 3.3% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 768,346 shares of the company’s stock worth $52,055,000 after purchasing an additional 24,353 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings 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 purchasing an additional 211,099 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.