Geode Capital Management LLC Decreases Stock Position in Skyline Champion Co. (NYSE:SKY)

Geode Capital Management LLC lessened its holdings in shares of Skyline Champion Co. (NYSE:SKY) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,216,004 shares of the company’s stock after selling 7,455 shares during the quarter. Geode Capital Management LLC owned about 2.12% of Skyline Champion worth $115,360,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Truvestments Capital LLC bought a new stake in Skyline Champion during the third quarter valued at about $32,000. Quarry LP purchased a new stake in Skyline Champion during the 3rd quarter valued at $67,000. nVerses Capital LLC purchased a new stake in Skyline Champion during the third quarter valued at approximately $76,000. MML Investors Services LLC acquired a new position in shares of Skyline Champion in the 3rd quarter valued at $216,000. Finally, CWM LLC lifted its position in Skyline Champion by 7.4% during the third quarter. CWM LLC now owns 2,286 shares of the company’s stock valued at $217,000 after purchasing an additional 158 shares during the period.

Skyline Champion Trading Down 1.6 %

Shares of NYSE:SKY opened at $101.03 on Wednesday. The company has a market capitalization of $5.80 billion, a P/E ratio of 39.01 and a beta of 1.59. The business’s 50 day simple moving average is $98.00 and its 200 day simple moving average is $87.23. Skyline Champion Co. has a 1 year low of $64.82 and a 1 year high of $116.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.42 and a quick ratio of 1.64.

Skyline Champion (NYSE:SKY) last announced its quarterly 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 company had revenue of $616.88 million for the quarter, compared to analyst estimates of $600.52 million. During the same period in the previous year, the firm posted $0.82 EPS. The firm’s revenue was up 32.9% on a year-over-year basis. On average, research analysts anticipate that Skyline Champion Co. will post 3.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Jefferies Financial Group upped their price objective on Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Craig Hallum boosted their price target on Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Barclays raised their target price on shares of Skyline Champion from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada boosted their price objective on Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $85.40.

Skyline Champion 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.