The Manufacturers Life Insurance Company Lowers Holdings in Skyline Champion Co. (NYSE:SKY)

The Manufacturers Life Insurance Company reduced its stake in shares of Skyline Champion Co. (NYSE:SKY) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,087 shares of the company’s stock after selling 555 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Skyline Champion worth $3,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans grew its stake in Skyline Champion by 2.1% during the second quarter. Thrivent Financial for Lutherans now owns 2,642,123 shares of the company’s stock valued at $179,004,000 after acquiring an additional 53,965 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of Skyline Champion by 0.3% during the second quarter. William Blair Investment Management LLC now owns 1,197,889 shares of the company’s stock valued at $81,157,000 after purchasing an additional 3,313 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Skyline Champion by 4.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 844,367 shares of the company’s stock worth $57,206,000 after purchasing an additional 35,880 shares during the last quarter. Burgundy Asset Management Ltd. lifted its position in shares of Skyline Champion by 3.3% in the second quarter. Burgundy Asset Management Ltd. now owns 768,346 shares of the company’s stock worth $52,055,000 after buying an additional 24,353 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Skyline Champion by 46.0% during the second quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock valued at $45,385,000 after buying an additional 211,099 shares during the last quarter.

Skyline Champion Stock Up 0.3 %

NYSE SKY opened at $104.22 on Friday. Skyline Champion Co. has a 52 week low of $64.34 and a 52 week high of $107.26. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 40.26 and a beta of 1.59. 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 company has a fifty day moving average of $96.40 and a two-hundred day moving average of $85.33.

Skyline Champion (NYSE:SKY) last released its quarterly earnings results on Monday, October 28th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.32. The firm had revenue of $616.88 million during the quarter, compared to analysts’ expectations of $600.52 million. Skyline Champion had a net margin of 6.42% and a return on equity of 13.20%. The firm’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 EPS. On average, analysts predict that Skyline Champion Co. will post 3.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SKY. Craig Hallum lifted their price objective on Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price target on shares of Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Barclays lifted their price objective on shares of Skyline Champion from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group upped their target price 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. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $85.40.

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.