Skyline Champion (NYSE:SKY) PT Lowered to $84.00 at Craig Hallum

Skyline Champion (NYSE:SKY) had its price target dropped by investment analysts at Craig Hallum from $88.00 to $84.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s price target points to a potential upside of 17.71% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Royal Bank of Canada reduced their price target on Skyline Champion from $73.00 to $68.00 and set a “sector perform” rating for the company in a research report on Thursday. Wedbush reiterated a “neutral” rating and set a $72.00 price target on shares of Skyline Champion in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Skyline Champion currently has a consensus rating of “Hold” and an average target price of $71.00.

Skyline Champion Stock Performance

SKY traded down $0.60 during trading on Thursday, reaching $71.36. 218,532 shares of the company were exchanged, compared to its average volume of 279,326. The stock has a market cap of $4.12 billion, a P/E ratio of 28.09 and a beta of 1.54. The firm has a 50 day moving average of $79.40 and a 200 day moving average of $74.03. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.02. Skyline Champion has a 52 week low of $52.12 and a 52 week high of $86.71.

Skyline Champion (NYSE:SKY) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Skyline Champion had a return on equity of 13.50% and a net margin of 7.24%. The business had revenue of $536.36 million for the quarter, compared to analyst estimates of $560.90 million. During the same quarter last year, the firm posted $1.00 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts forecast that Skyline Champion will post 3.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Skyline Champion

Several hedge funds have recently modified their holdings of SKY. Headlands Technologies LLC acquired a new position in Skyline Champion during the first quarter valued at $63,000. DekaBank Deutsche Girozentrale acquired a new position in Skyline Champion during the third quarter valued at $94,000. Kessler Investment Group LLC acquired a new position in Skyline Champion in the 4th quarter worth about $123,000. Envestnet Portfolio Solutions Inc. acquired a new position in Skyline Champion in the 3rd quarter worth about $216,000. Finally, Vestmark Advisory Solutions Inc. acquired a new position in Skyline Champion in the 4th quarter worth about $219,000.

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.