Royal Bank of Canada Forecasts Strong Price Appreciation for Skyline Champion (NYSE:SKY) Stock

Skyline Champion (NYSE:SKY) had its price target increased by research analysts at Royal Bank of Canada from $88.00 to $96.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential downside of 7.59% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. Jefferies Financial Group lifted their target price on Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Craig Hallum lifted their target price on Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.20.

Skyline Champion Price Performance

Shares of SKY stock opened at $103.89 on Thursday. Skyline Champion has a fifty-two week low of $64.82 and a fifty-two week high of $116.49. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 40.11 and a beta of 1.62. 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’s 50-day simple moving average is $94.76 and its 200-day simple moving average is $92.51.

Skyline Champion (NYSE:SKY) last released its earnings results on Tuesday, February 4th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.24. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. As a group, equities analysts forecast that Skyline Champion will post 3.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Truvestments Capital LLC purchased a new stake in shares of Skyline Champion in the third quarter valued at approximately $32,000. Quarry LP purchased a new stake in shares of Skyline Champion in the third quarter valued at approximately $67,000. nVerses Capital LLC purchased a new stake in shares of Skyline Champion in the third quarter valued at approximately $76,000. Venturi Wealth Management LLC purchased a new stake in shares of Skyline Champion in the fourth quarter valued at approximately $112,000. Finally, MML Investors Services LLC purchased a new stake in shares of Skyline Champion during the third quarter worth approximately $216,000.

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.