Franklin Resources Inc. Buys Shares of 2,563 Skyline Champion Co. (NYSE:SKY)

Franklin Resources Inc. acquired a new position in shares of Skyline Champion Co. (NYSE:SKY) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,563 shares of the company’s stock, valued at approximately $244,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in Skyline Champion by 7.0% in the second quarter. Bank of New York Mellon Corp now owns 234,605 shares of the company’s stock worth $15,894,000 after purchasing an additional 15,277 shares during the last quarter. Principal Financial Group Inc. increased its position in Skyline Champion by 9.5% during the 2nd quarter. Principal Financial Group Inc. now owns 18,972 shares of the company’s stock valued at $1,285,000 after buying an additional 1,639 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in Skyline Champion in the second quarter valued at about $285,000. Van ECK Associates Corp boosted its holdings in Skyline Champion by 3.6% in the second quarter. Van ECK Associates Corp now owns 23,516 shares of the company’s stock worth $1,593,000 after acquiring an additional 809 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake in shares of Skyline Champion by 0.4% during the second quarter. Natixis Advisors LLC now owns 176,640 shares of the company’s stock worth $11,967,000 after acquiring an additional 634 shares during the last quarter.

Skyline Champion Stock Down 0.8 %

SKY opened at $88.10 on Thursday. Skyline Champion Co. has a fifty-two week low of $64.82 and a fifty-two week high of $116.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.64 and a current ratio of 2.42. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 34.02 and a beta of 1.59. The company has a fifty day moving average of $97.23 and a two-hundred day moving average of $88.82.

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

Wall Street Analyst Weigh In

SKY has been the subject of several research analyst reports. Craig Hallum increased their price objective on shares of Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Barclays boosted their target price on shares of Skyline Champion from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada boosted their price objective on Skyline Champion from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $85.40.

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.