Skyline Champion (NYSE:SKY) PT Lowered to $84.00 at Craig Hallum

Skyline Champion (NYSE:SKY) had its price objective reduced by Craig Hallum from $88.00 to $84.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently weighed in on SKY. Royal Bank of Canada decreased their target price on shares of Skyline Champion from $73.00 to $68.00 and set a sector perform rating for the company in a research note on Thursday. Wedbush restated a neutral rating and set a $72.00 target price on shares of Skyline Champion in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $71.00.

Skyline Champion Stock Up 0.6 %

Shares of NYSE SKY opened at $71.68 on Thursday. The stock has a fifty day moving average price of $79.04 and a 200 day moving average price of $74.24. The company has a market cap of $4.14 billion, a P/E ratio of 28.22 and a beta of 1.54. Skyline Champion has a 12-month low of $52.12 and a 12-month high of $86.71. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.02.

Skyline Champion (NYSE:SKY) last announced its earnings results on Tuesday, May 21st. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). The company had revenue of $536.36 million for the quarter, compared to analysts’ expectations of $560.90 million. Skyline Champion had a net margin of 7.24% and a return on equity of 13.50%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.00 earnings per share. Research analysts anticipate that Skyline Champion will post 2.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SKY. Castleark Management LLC acquired a new stake in shares of Skyline Champion in the 1st quarter valued at about $6,366,000. Janus Henderson Group PLC raised its stake in Skyline Champion by 35.4% during the first quarter. Janus Henderson Group PLC now owns 42,484 shares of the company’s stock valued at $3,614,000 after buying an additional 11,096 shares in the last quarter. Robotti Robert lifted its holdings in Skyline Champion by 0.6% during the 1st quarter. Robotti Robert now owns 130,889 shares of the company’s stock worth $11,127,000 after buying an additional 765 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Skyline Champion by 122.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,074 shares of the company’s stock worth $1,029,000 after buying an additional 6,639 shares during the last quarter. Finally, Burgundy Asset Management Ltd. grew its position in shares of Skyline Champion by 1.0% in the 1st quarter. Burgundy Asset Management Ltd. now owns 743,993 shares of the company’s stock worth $63,247,000 after acquiring an additional 7,516 shares in the last quarter.

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.