Skyline Champion (NYSE:SKY) PT Lowered to $61.00 at Royal Bank of Canada

Skyline Champion (NYSE:SKY – Get Rating) had its target price trimmed by Royal Bank of Canada from $87.00 to $61.00 in a research note issued to investors on Wednesday, The Fly reports.

Several other analysts have also commented on SKY. Zacks Investment Research lowered shares of Skyline Champion from a buy rating to a hold rating in a research note on Thursday, April 7th. Craig Hallum cut their target price on shares of Skyline Champion from $111.00 to $80.00 in a research note on Monday, April 18th. Barclays cut their target price on shares of Skyline Champion from $84.00 to $71.00 and set an overweight rating for the company in a research note on Wednesday. Finally, StockNews.com assumed coverage on shares of Skyline Champion in a research note on Thursday, March 31st. They set a hold rating for the company. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $65.60.

Skyline Champion stock opened at $54.49 on Wednesday. The firm has a 50 day simple moving average of $53.99 and a 200-day simple moving average of $66.24. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.24 and a quick ratio of 1.59. The stock has a market capitalization of $3.10 billion, a PE ratio of 15.98 and a beta of 1.92. Skyline Champion has a 12-month low of $44.00 and a 12-month high of $85.92.

Skyline Champion (NYSE:SKY – Get Rating) last posted its quarterly earnings data on Monday, May 23rd. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.51. The business had revenue of $638.12 million during the quarter, compared to analysts’ expectations of $561.80 million. Skyline Champion had a net margin of 9.68% and a return on equity of 30.44%. The business’s revenue was up 42.5% on a year-over-year basis. During the same period last year, the firm posted $0.61 earnings per share. On average, analysts forecast that Skyline Champion will post 3.81 earnings per share for the current fiscal year.

In other Skyline Champion news, Director Erin Mulligan Nelson sold 6,508 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $52.83, for a total value of $343,817.64. Following the completion of the sale, the director now owns 1,750 shares in the company, valued at approximately $92,452.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Timothy A. Burkhardt sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $68.55, for a total transaction of $171,375.00. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in SKY. Clearstead Advisors LLC acquired a new position in shares of Skyline Champion during the 3rd quarter worth $38,000. First Horizon Advisors Inc. increased its stake in shares of Skyline Champion by 561.6% during the 4th quarter. First Horizon Advisors Inc. now owns 483 shares of the company’s stock worth $38,000 after purchasing an additional 410 shares during the last quarter. David J Yvars Group acquired a new position in shares of Skyline Champion during the 4th quarter worth $48,000. Exchange Traded Concepts LLC increased its stake in shares of Skyline Champion by 51.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 663 shares of the company’s stock worth $52,000 after purchasing an additional 225 shares during the last quarter. Finally, Koshinski Asset Management Inc. acquired a new position in shares of Skyline Champion during the 4th quarter worth $54,000. Institutional investors own 98.48% of the company’s stock.

About Skyline Champion (Get Rating)

Skyline Champion Corporation operates as a factory-built housing company in North America. The company offers manufactured and modular homes, park models RVs, accessory dwelling units, and modular buildings for the multi-family, hospitality, and senior and workforce housing sectors. It builds homes under the brand names of Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes in the United Statesp; and Moduline and SRI Homes in western Canada.

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