Skyline Champion (NYSE:SKY) Hits New 12-Month High – What’s Next?

Skyline Champion Co. (NYSE:SKY) reached a new 52-week high on Tuesday . The company traded as high as $97.32 and last traded at $97.32, with a volume of 45073 shares traded. The stock had previously closed at $95.34.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SKY shares. StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Jefferies Financial Group boosted their price target on Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Barclays increased 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 boosted their target price on shares of Skyline Champion from $68.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Finally, Wedbush restated a “neutral” rating and set a $64.00 price target on shares of Skyline Champion in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Skyline Champion currently has a consensus rating of “Hold” and a consensus target price of $80.20.

Skyline Champion Stock Performance

The company has a market cap of $5.56 billion, a price-to-earnings ratio of 38.19 and a beta of 1.57. 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 firm has a fifty day simple moving average of $90.74 and a 200 day simple moving average of $80.40.

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

Insider Transactions at Skyline Champion

In other Skyline Champion news, VP Timothy A. Burkhardt sold 2,874 shares of the firm’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 sale, the vice president now owns 38,792 shares of the company’s stock, valued at $3,468,780.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Skyline Champion news, VP Timothy A. Burkhardt sold 2,874 shares of the stock in a transaction on Monday, August 19th. The shares were 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 directly owns 38,792 shares of the company’s stock, valued at $3,468,780.64. This represents a 0.00 % decrease in their position. The sale 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 on Friday, September 6th. The stock was sold at an average price of $88.87, for a total transaction of $3,554,800.00. Following the completion of the sale, the director now owns 2,716,500 shares in the company, valued at $241,415,355. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 163,636 shares of company stock worth $14,582,253. Company insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Skyline Champion

Large investors have recently added to or reduced their stakes in the company. Creative Planning increased its position in shares of Skyline Champion by 166.7% during the third quarter. Creative Planning now owns 10,049 shares of the company’s stock valued at $953,000 after purchasing an additional 6,281 shares during the period. CWM LLC boosted its stake in Skyline Champion by 7.4% during the third quarter. CWM LLC now owns 2,286 shares of the company’s stock worth $217,000 after buying an additional 158 shares in the last quarter. SG Americas Securities LLC increased its holdings in 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 buying an additional 5,979 shares during the period. Aristides Capital LLC acquired a new position in shares of Skyline Champion in the 2nd quarter valued at $339,000. Finally, Algert Global LLC bought a new position in shares of Skyline Champion during the 2nd quarter worth about $374,000.

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.