Skyline Champion (NYSE:SKY) Sees Unusually-High Trading Volume – Should You Buy?

Skyline Champion Co. (NYSE:SKY) saw unusually-strong trading volume on Monday . Approximately 925,176 shares traded hands during mid-day trading, an increase of 143% from the previous session’s volume of 381,360 shares.The stock last traded at $102.86 and had previously closed at $105.37.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays upped their price objective 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. Jefferies Financial Group upped their price target on shares of Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Craig Hallum lifted their price objective on shares of Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their target price on Skyline Champion from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $85.40.

Skyline Champion Price Performance

The company has a quick ratio of 1.64, a current ratio of 2.42 and a debt-to-equity ratio of 0.02. The stock’s 50 day moving average price is $97.67 and its two-hundred day moving average price is $86.77. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 40.68 and a beta of 1.59.

Skyline Champion (NYSE:SKY) last issued its 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 company had revenue of $616.88 million for the quarter, compared to analyst estimates of $600.52 million. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The business’s revenue was up 32.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 EPS. Analysts anticipate that Skyline Champion Co. will post 3.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Skyline Champion

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SKY. Franklin Resources Inc. bought a new position in shares of Skyline Champion during the 3rd quarter valued at $244,000. SkyView Investment Advisors LLC increased its position in Skyline Champion by 2.2% during the third quarter. SkyView Investment Advisors LLC now owns 6,243 shares of the company’s stock worth $592,000 after buying an additional 132 shares during the last quarter. Barclays PLC increased its position in Skyline Champion by 136.9% during the third quarter. Barclays PLC now owns 111,140 shares of the company’s stock worth $10,543,000 after buying an additional 64,229 shares during the last quarter. MML Investors Services LLC bought a new position in Skyline Champion during the third quarter valued at about $216,000. Finally, Castleark Management LLC lifted its position in shares of Skyline Champion by 6.9% in the third quarter. Castleark Management LLC now owns 49,500 shares of the company’s stock worth $4,695,000 after buying an additional 3,200 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.