Skyline Champion Co. (NYSE:SKY) Given Average Rating of “Buy” by Brokerages

Skyline Champion Co. (NYSE:SKY) has earned an average recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $54.50.

SKY has been the subject of a number of recent research reports. TheStreet raised shares of Skyline Champion from a “c” rating to a “b” rating in a research note on Tuesday, June 1st. Barclays upped their price target on Skyline Champion from $51.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, May 27th. Craig Hallum upped their price target on Skyline Champion from $55.00 to $67.00 and gave the stock a “buy” rating in a research report on Thursday, May 27th. Zacks Investment Research raised Skyline Champion from a “hold” rating to a “strong-buy” rating and set a $59.00 price target on the stock in a research report on Tuesday, June 1st. Finally, Wedbush reaffirmed a “neutral” rating on shares of Skyline Champion in a research report on Monday, March 8th.

In other news, Director Keith A. Anderson sold 121,948 shares of the business’s stock in a transaction on Wednesday, May 26th. The shares were sold at an average price of $48.78, for a total transaction of $5,948,623.44. Following the sale, the director now directly owns 381,710 shares of the company’s stock, valued at $18,619,813.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Laurie M. Hough sold 6,691 shares of the business’s stock in a transaction on Monday, June 7th. The shares were sold at an average price of $53.89, for a total transaction of $360,577.99. Following the sale, the chief financial officer now directly owns 82,854 shares in the company, valued at $4,465,002.06. The disclosure for this sale can be found here. Insiders have sold 306,327 shares of company stock worth $14,817,209 over the last three months. Corporate insiders own 8.10% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Skyline Champion by 2.1% in the first quarter. BlackRock Inc. now owns 4,332,977 shares of the company’s stock valued at $196,110,000 after purchasing an additional 90,939 shares during the last quarter. Wasatch Advisors Inc. boosted its holdings in Skyline Champion by 0.6% in the first quarter. Wasatch Advisors Inc. now owns 3,042,745 shares of the company’s stock valued at $137,715,000 after purchasing an additional 19,286 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Skyline Champion by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,369,547 shares of the company’s stock valued at $73,314,000 after purchasing an additional 12,156 shares during the last quarter. FMR LLC boosted its holdings in Skyline Champion by 4.7% in the first quarter. FMR LLC now owns 2,323,264 shares of the company’s stock valued at $44,142,000 after purchasing an additional 105,135 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Skyline Champion by 2,684.5% in the first quarter. Alliancebernstein L.P. now owns 1,695,768 shares of the company’s stock valued at $76,750,000 after purchasing an additional 1,634,868 shares during the last quarter. 96.08% of the stock is currently owned by institutional investors.

NYSE:SKY traded down $2.03 during trading hours on Thursday, reaching $48.45. The company’s stock had a trading volume of 390,120 shares, compared to its average volume of 432,886. The stock has a market cap of $2.74 billion, a P/E ratio of 49.98 and a beta of 2.19. Skyline Champion has a 12 month low of $21.31 and a 12 month high of $53.90. The company has a quick ratio of 1.56, a current ratio of 2.19 and a debt-to-equity ratio of 0.07. The firm has a 50 day simple moving average of $45.92.

Skyline Champion (NYSE:SKY) last issued its quarterly earnings data on Monday, May 24th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.23. The company had revenue of $447.65 million during the quarter, compared to the consensus estimate of $383.69 million. Skyline Champion had a net margin of 4.47% and a return on equity of 11.92%. Skyline Champion’s revenue for the quarter was up 48.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 earnings per share. On average, analysts expect that Skyline Champion will post 1.65 EPS for the current fiscal year.

Skyline Champion Company Profile

Skyline Champion Corporation operates as a factory-built housing company in North America. The company offers manufactured and modular homes, as well as park-models and modular buildings for the multi-family, hospitality, and senior and workforce housing sectors. It builds homes under the brand names of Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Excel Homes, Homes of Merit, New Era, Redman Homes, Shore Park, Silvercrest, Titan Homes in the United States, and Moduline and SRI Homes in western Canada.

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