JPMorgan Chase & Co. Grows Stock Position in Skyline Champion Co. (NYSE:SKY)

JPMorgan Chase & Co. grew its holdings in Skyline Champion Co. (NYSE:SKY) by 137.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,307 shares of the company’s stock after acquiring an additional 73,697 shares during the period. JPMorgan Chase & Co. owned 0.22% of Skyline Champion worth $12,075,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Truvestments Capital LLC purchased a new position in Skyline Champion during the third quarter valued at approximately $32,000. Quarry LP purchased a new position in shares of Skyline Champion in the third quarter valued at about $67,000. nVerses Capital LLC bought a new position in Skyline Champion in the 3rd quarter worth approximately $76,000. MML Investors Services LLC purchased a new stake in Skyline Champion during the 3rd quarter valued at approximately $216,000. Finally, CWM LLC raised its position in shares of Skyline Champion by 7.4% during the third quarter. CWM LLC now owns 2,286 shares of the company’s stock valued at $217,000 after buying an additional 158 shares during the last quarter.

Analyst Ratings Changes

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

Skyline Champion Stock Performance

NYSE SKY opened at $86.18 on Monday. The business’s 50 day moving average price is $96.88 and its 200-day moving average price is $89.75. 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 market cap of $4.95 billion, a P/E ratio of 33.27 and a beta of 1.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.64 and a current ratio of 2.42.

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

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.