Skyline Champion (NYSE:SKY) Price Target Cut to $71.00

Skyline Champion (NYSE:SKYGet Rating) had its price objective trimmed by Craig Hallum from $80.00 to $71.00 in a research note issued to investors on Wednesday, The Fly reports.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded Skyline Champion from a buy rating to a hold rating in a research report on Thursday, April 7th. Barclays cut their price objective on Skyline Champion from $84.00 to $71.00 and set an overweight rating for the company in a report on Wednesday. StockNews.com assumed coverage on shares of Skyline Champion in a research note on Thursday, March 31st. They issued a hold rating on the stock. Finally, Royal Bank of Canada dropped their target price on shares of Skyline Champion from $87.00 to $61.00 in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of Buy and an average price target of $65.60.

SKY opened at $54.49 on Wednesday. The company has a market capitalization of $3.10 billion, a P/E ratio of 15.98 and a beta of 1.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.24 and a quick ratio of 1.59. The firm’s fifty day moving average price is $53.99 and its two-hundred day moving average price is $66.24. Skyline Champion has a fifty-two week low of $44.00 and a fifty-two week high of $85.92.

Skyline Champion (NYSE:SKYGet Rating) last posted its earnings results on Monday, May 23rd. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.51. The business had revenue of $638.12 million for the quarter, compared to analysts’ expectations of $561.80 million. Skyline Champion had a net margin of 9.68% and a return on equity of 30.44%. The firm’s revenue for the quarter was up 42.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 earnings per share. On average, equities research analysts expect that Skyline Champion will post 3.81 EPS for the current fiscal year.

In other Skyline Champion news, VP Timothy A. Burkhardt sold 2,500 shares of the business’s stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $68.55, for a total transaction of $171,375.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Erin Mulligan Nelson sold 6,508 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $52.83, for a total transaction of $343,817.64. Following the transaction, the director now owns 1,750 shares in the company, valued at $92,452.50. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its holdings in Skyline Champion by 28.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 866 shares of the company’s stock worth $68,000 after acquiring an additional 193 shares during the period. Legal & General Group Plc boosted its position in shares of Skyline Champion by 0.4% in the 4th quarter. Legal & General Group Plc now owns 44,591 shares of the company’s stock worth $3,522,000 after purchasing an additional 198 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Skyline Champion by 5.7% during the first quarter. Mackenzie Financial Corp now owns 4,120 shares of the company’s stock worth $226,000 after purchasing an additional 224 shares during the period. Exchange Traded Concepts LLC increased its holdings in Skyline Champion by 51.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 663 shares of the company’s stock valued at $52,000 after purchasing an additional 225 shares during the last quarter. Finally, Great Lakes Advisors LLC lifted its stake in Skyline Champion by 8.4% in the fourth quarter. Great Lakes Advisors LLC now owns 3,689 shares of the company’s stock valued at $291,000 after buying an additional 287 shares during the period. 98.48% of the stock is owned by institutional investors and hedge funds.

Skyline Champion Company Profile (Get Rating)

Skyline Champion Corporation operates as a factory-built housing company in North America. The company offers manufactured and modular homes, park models RVs, accessory dwelling units, 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, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes in the United Statesp; and Moduline and SRI Homes in western Canada.

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