Royal Bank of Canada Trims Skyline Champion (NYSE:SKY) Target Price to $68.00

Skyline Champion (NYSE:SKY) had its price objective cut by Royal Bank of Canada from $73.00 to $68.00 in a research report report published on Thursday, Benzinga reports. They currently have a sector perform rating on the stock.

Separately, Wedbush reiterated a neutral rating and issued a $72.00 price objective on shares of Skyline Champion in a research note on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $71.00.

Skyline Champion Stock Performance

Shares of Skyline Champion stock opened at $71.68 on Thursday. The company has a market cap of $4.14 billion, a P/E ratio of 28.22 and a beta of 1.54. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $79.04 and a two-hundred day moving average price of $74.37. Skyline Champion has a 1-year low of $52.12 and a 1-year high of $86.71.

Skyline Champion (NYSE:SKY) last released its earnings results on Tuesday, May 21st. The company reported $0.62 EPS for the quarter, missing the consensus estimate 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 period in the prior year, the business earned $1.00 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts anticipate that Skyline Champion will post 2.78 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its position in shares of Skyline Champion by 11.7% during the third quarter. Commonwealth Equity Services LLC now owns 3,931 shares of the company’s stock worth $250,000 after purchasing an additional 413 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Skyline Champion by 28.0% in the third quarter. Principal Financial Group Inc. now owns 13,101 shares of the company’s stock valued at $835,000 after buying an additional 2,866 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Skyline Champion by 1.5% during the third quarter. Arizona State Retirement System now owns 15,454 shares of the company’s stock valued at $985,000 after buying an additional 232 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Skyline Champion during the third quarter worth about $534,000. Finally, Kestra Private Wealth Services LLC raised its holdings in shares of Skyline Champion by 4.9% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 4,365 shares of the company’s stock worth $278,000 after acquiring an additional 205 shares during the last quarter.

Skyline Champion Company Profile

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.