Skyline Champion (NYSE:SKY) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Skyline Champion (NYSE:SKY) had its price target increased by Royal Bank of Canada from $82.00 to $88.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a sector perform rating on the stock.

SKY has been the subject of several other reports. Craig Hallum lifted their price objective on Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday. Barclays lifted their price target on Skyline Champion from $68.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Wedbush reiterated a “neutral” rating and issued a $64.00 price target on shares of Skyline Champion in a research note on Wednesday, August 7th. StockNews.com upgraded Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group lifted their price target on Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Skyline Champion has an average rating of “Hold” and an average price target of $85.40.

Skyline Champion Stock Performance

NYSE:SKY opened at $91.49 on Wednesday. The stock has a market cap of $5.25 billion, a P/E ratio of 35.32 and a beta of 1.59. The stock has a 50 day simple moving average of $92.53 and a 200 day simple moving average of $81.56. The company has a current ratio of 2.42, a quick ratio of 1.57 and a debt-to-equity ratio of 0.02. Skyline Champion has a 1-year low of $53.84 and a 1-year high of $101.39.

Skyline Champion (NYSE:SKY) last released its quarterly earnings results on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.32. The business had revenue of $616.88 million during the quarter, compared to analysts’ expectations of $600.52 million. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The firm’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same period last year, the firm posted $0.82 EPS. Research analysts anticipate that Skyline Champion will post 3.33 earnings per share for the current year.

Insider Buying and Selling at Skyline Champion

In other news, insider Timothy Mark Larson sold 5,500 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $83.00, for a total value of $456,500.00. Following the completion of the sale, the insider now owns 43,300 shares of the company’s stock, valued at approximately $3,593,900. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Timothy Mark Larson sold 5,500 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $83.00, for a total value of $456,500.00. Following the completion of the sale, the insider now owns 43,300 shares of the company’s stock, valued at approximately $3,593,900. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mak Capital One Llc sold 40,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $88.87, for a total value of $3,554,800.00. Following the sale, the director now owns 2,716,500 shares in the company, valued at approximately $241,415,355. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,636 shares of company stock worth $14,582,253. Insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in shares of Skyline Champion in the third quarter valued at approximately $27,769,000. Victory Capital Management Inc. lifted its holdings in shares of Skyline Champion by 46.0% in the second quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock valued at $45,385,000 after purchasing an additional 211,099 shares in the last quarter. Forge First Asset Management Inc. bought a new position in shares of Skyline Champion in the first quarter valued at approximately $9,398,000. Castleark Management LLC bought a new position in shares of Skyline Champion in the first quarter valued at approximately $6,366,000. Finally, Harbor Capital Advisors Inc. increased its position in shares of Skyline Champion by 298.1% during the third quarter. Harbor Capital Advisors Inc. now owns 94,373 shares of the company’s stock valued at $8,951,000 after acquiring an additional 70,666 shares during the last quarter.

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.