Skyline Champion (NYSE:SKY) Reaches New 1-Year High at $95.12

Skyline Champion Co. (NYSE:SKY)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $95.12 and last traded at $94.24, with a volume of 33194 shares changing hands. The stock had previously closed at $91.34.

Analyst Ratings Changes

SKY has been the topic of several recent analyst reports. Craig Hallum cut their target price on shares of Skyline Champion from $88.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Royal Bank of Canada boosted their target price on shares of Skyline Champion from $68.00 to $82.00 and gave the company a “sector perform” rating in a research note on Thursday, August 8th. Wedbush reissued a “neutral” rating and set a $64.00 target price on shares of Skyline Champion in a research note on Wednesday, August 7th. StockNews.com raised shares of Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Barclays boosted their target price on shares of Skyline Champion from $68.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $78.75.

Skyline Champion Stock Performance

The firm’s fifty day moving average price is $83.27 and its 200 day moving average price is $78.82. The company has a current ratio of 2.33, a quick ratio of 1.57 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $5.50 billion, a PE ratio of 37.63 and a beta of 1.58.

Skyline Champion (NYSE:SKY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.69 by $0.22. Skyline Champion had a net margin of 6.45% and a return on equity of 13.07%. The business had revenue of $627.80 million for the quarter, compared to analysts’ expectations of $600.39 million. During the same period in the previous year, the company posted $0.89 EPS. Skyline Champion’s revenue was up 35.1% on a year-over-year basis. On average, research analysts anticipate that Skyline Champion Co. will post 3.01 earnings per share for the current year.

Insider Activity

In other Skyline Champion news, Director Mak Capital One Llc sold 40,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $88.87, for a total transaction of $3,554,800.00. Following the transaction, the director now directly owns 2,716,500 shares of the company’s stock, valued at $241,415,355. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Skyline Champion news, Director Michael B. Berman sold 3,496 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $82.34, for a total transaction of $287,860.64. Following the transaction, the director now directly owns 8,099 shares of the company’s stock, valued at $666,871.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mak Capital One Llc sold 40,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $88.87, for a total value of $3,554,800.00. Following the completion of the sale, the director now directly owns 2,716,500 shares in the company, valued at $241,415,355. The disclosure for this sale can be found here. Insiders have sold a total of 163,636 shares of company stock worth $14,582,253 in the last ninety days. Corporate insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Skyline Champion

Several hedge funds and other institutional investors have recently made changes to their positions in SKY. Charles Schwab Investment Management Inc. grew its position in shares of Skyline Champion by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 573,607 shares of the company’s stock valued at $42,596,000 after purchasing an additional 14,322 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Skyline Champion by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,310,969 shares of the company’s stock valued at $97,356,000 after purchasing an additional 81,823 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Skyline Champion by 21.9% in the fourth quarter. Principal Financial Group Inc. now owns 15,964 shares of the company’s stock valued at $1,185,000 after purchasing an additional 2,863 shares during the last quarter. First Eagle Investment Management LLC grew its position in shares of Skyline Champion by 7.7% in the fourth quarter. First Eagle Investment Management LLC now owns 56,625 shares of the company’s stock valued at $4,205,000 after purchasing an additional 4,070 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Skyline Champion in the fourth quarter valued at about $34,476,000.

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.