Jefferies Financial Group Raises Skyline Champion (NYSE:SKY) Price Target to $86.00

Skyline Champion (NYSE:SKY) had its target price raised by equities researchers at Jefferies Financial Group from $79.00 to $86.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s price objective suggests a potential downside of 9.13% from the stock’s previous close.

Several other analysts have also recently issued reports on SKY. Barclays upped their price objective on Skyline Champion from $68.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Royal Bank of Canada increased their price objective on shares of Skyline Champion from $68.00 to $82.00 and gave the company a “sector perform” rating in a research report on Thursday, August 8th. Wedbush restated a “neutral” rating and issued a $64.00 target price on shares of Skyline Champion in a report on Wednesday, August 7th. Finally, StockNews.com raised shares of Skyline Champion from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $80.20.

Skyline Champion Price Performance

Shares of SKY stock traded up $0.22 during mid-day trading on Wednesday, hitting $94.64. The company had a trading volume of 400,306 shares, compared to its average volume of 354,971. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.33 and a quick ratio of 1.57. The stock’s 50 day moving average price is $89.39 and its 200-day moving average price is $80.09. Skyline Champion has a 52-week low of $52.12 and a 52-week high of $97.22. The company has a market capitalization of $5.45 billion, a P/E ratio of 37.26 and a beta of 1.57.

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

Insider Transactions at Skyline Champion

In other news, Director Erin Mulligan Nelson sold 1,000 shares of Skyline Champion stock in a transaction on Friday, August 9th. The stock was sold at an average price of $83.18, for a total transaction of $83,180.00. Following the completion of the sale, the director now directly owns 5,170 shares in the company, valued at approximately $430,040.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Timothy A. Burkhardt sold 2,874 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $89.42, for a total value of $256,993.08. Following the completion of the sale, the vice president now owns 38,792 shares in the company, valued at approximately $3,468,780.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Erin Mulligan Nelson sold 1,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $83.18, for a total value of $83,180.00. Following the transaction, the director now owns 5,170 shares in the company, valued at $430,040.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 163,636 shares of company stock worth $14,582,253. 6.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Skyline Champion

Hedge funds have recently made changes to their positions in the company. CWM LLC raised its holdings in shares of Skyline Champion by 7.4% in the 3rd quarter. CWM LLC now owns 2,286 shares of the company’s stock valued at $217,000 after purchasing an additional 158 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Skyline Champion by 86.4% in the 3rd quarter. SG Americas Securities LLC now owns 12,903 shares of the company’s stock valued at $1,224,000 after acquiring an additional 5,979 shares during the period. Aristides Capital LLC purchased a new stake in shares of Skyline Champion during the 2nd quarter worth $339,000. Algert Global LLC purchased a new position in Skyline Champion in the second quarter valued at about $374,000. Finally, Scientech Research LLC purchased a new stake in shares of Skyline Champion during the second quarter valued at about $539,000.

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.