Skyline Champion Co. (NYSE:SKY) Holdings Lowered by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its stake in shares of Skyline Champion Co. (NYSE:SKY) by 84.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,326 shares of the company’s stock after selling 246,440 shares during the quarter. Assenagon Asset Management S.A. owned about 0.08% of Skyline Champion worth $4,081,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp raised its position in shares of Skyline Champion by 4.6% during the 3rd quarter. State Street Corp now owns 1,790,962 shares of the company’s stock worth $169,873,000 after buying an additional 78,733 shares in the last quarter. FMR LLC raised its position in shares of Skyline Champion by 32.3% during the 3rd quarter. FMR LLC now owns 1,491,907 shares of the company’s stock worth $141,507,000 after buying an additional 363,885 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Skyline Champion by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 639,981 shares of the company’s stock worth $60,702,000 after buying an additional 33,942 shares in the last quarter. Congress Asset Management Co. raised its position in shares of Skyline Champion by 2.7% during the 3rd quarter. Congress Asset Management Co. now owns 584,441 shares of the company’s stock worth $55,434,000 after buying an additional 15,242 shares in the last quarter. Finally, Summit Partners Public Asset Management LLC raised its holdings in shares of Skyline Champion by 23.3% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 404,673 shares of the company’s stock worth $38,383,000 after purchasing an additional 76,573 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SKY shares. Jefferies Financial Group boosted their target price on shares of Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Barclays boosted their target price on shares of Skyline Champion from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Craig Hallum boosted their target price on shares of Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their target price on shares of Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $85.40.

Skyline Champion Stock Performance

Skyline Champion stock opened at $90.58 on Tuesday. The firm’s 50 day simple moving average is $96.62 and its 200-day simple moving average is $90.58. The company has a market cap of $5.20 billion, a P/E ratio of 34.97 and a beta of 1.63. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.42 and a quick ratio of 1.64. Skyline Champion Co. has a fifty-two week low of $64.82 and a fifty-two week high of $116.49.

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

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.