Royal Bank of Canada Boosts Skyline Champion (NYSE:SKY) Price Target to $88.00

Skyline Champion (NYSE:SKY) had its price objective increased by Royal Bank of Canada from $82.00 to $88.00 in a research report sent to investors on Wednesday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other equities research analysts also recently issued reports on SKY. Wedbush restated a “neutral” rating and set a $64.00 price objective on shares of Skyline Champion in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Craig Hallum raised their price objective on shares of Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays raised their price objective on shares of Skyline Champion from $68.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Jefferies Financial Group raised their price objective on shares of Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Skyline Champion presently has a consensus rating of “Hold” and a consensus price target of $85.40.

Skyline Champion Trading Up 3.7 %

Shares of NYSE:SKY opened at $91.49 on Wednesday. Skyline Champion has a 52-week low of $53.84 and a 52-week high of $101.39. The company has a market capitalization of $5.25 billion, a P/E ratio of 35.32 and a beta of 1.59. The company has a 50-day simple moving average of $92.53 and a 200 day simple moving average of $81.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.57 and a current ratio of 2.42.

Skyline Champion (NYSE:SKY) last issued its earnings results on Monday, October 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.32. Skyline Champion had a net margin of 6.42% and a return on equity of 13.20%. The business had revenue of $616.88 million during the quarter, compared to the consensus estimate of $600.52 million. During the same period last year, the business posted $0.82 EPS. Skyline Champion’s revenue was up 32.9% on a year-over-year basis. Sell-side analysts forecast that Skyline Champion will post 3.33 earnings per share for the current year.

Insider Transactions at Skyline Champion

In other news, Director Michael B. Berman sold 3,496 shares of the firm’s stock in a transaction that occurred 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 approximately $666,871.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Michael B. Berman sold 3,496 shares of Skyline Champion stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $82.34, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Erin Mulligan Nelson sold 1,000 shares of Skyline Champion stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $83.18, for a total transaction of $83,180.00. Following the completion of the transaction, the director now directly owns 5,170 shares in the company, valued at $430,040.60. This trade 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 valued at $14,582,253. 6.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its stake in shares of Skyline Champion by 2.1% during the second quarter. Thrivent Financial for Lutherans now owns 2,642,123 shares of the company’s stock worth $179,004,000 after buying an additional 53,965 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Skyline Champion by 0.3% during the second quarter. William Blair Investment Management LLC now owns 1,197,889 shares of the company’s stock worth $81,157,000 after buying an additional 3,313 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Skyline Champion by 4.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 844,367 shares of the company’s stock worth $57,206,000 after buying an additional 35,880 shares during the last quarter. Burgundy Asset Management Ltd. grew its stake in shares of Skyline Champion by 3.3% during the second quarter. Burgundy Asset Management Ltd. now owns 768,346 shares of the company’s stock worth $52,055,000 after buying an additional 24,353 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Skyline Champion by 46.0% during the second quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock worth $45,385,000 after buying an additional 211,099 shares during the last quarter.

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.