Skyline Champion (NYSE:SKY) Shares Down 5.4% – Time to Sell?

Skyline Champion Co. (NYSE:SKY)’s share price dropped 5.4% during trading on Monday . The stock traded as low as $94.41 and last traded at $94.54. Approximately 92,830 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 354,963 shares. The stock had previously closed at $99.94.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wedbush reissued a “neutral” rating and set a $64.00 target price on shares of Skyline Champion in a research report on Wednesday, August 7th. Jefferies Financial Group boosted their price objective on shares of Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada raised their target price on Skyline Champion from $68.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Barclays boosted their price target on Skyline Champion from $68.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, StockNews.com upgraded Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Skyline Champion currently has a consensus rating of “Hold” and a consensus target price of $80.20.

Skyline Champion Stock Down 0.7 %

The stock has a market cap of $5.21 billion, a PE ratio of 35.57 and a beta of 1.57. The business has a 50 day moving average price of $92.44 and a 200 day moving average price of $81.04. The company has a quick ratio of 1.57, a current ratio of 2.33 and a debt-to-equity ratio of 0.02.

Skyline Champion (NYSE:SKY) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.91 EPS for the quarter, topping the consensus estimate 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 return on equity of 13.07% and a net margin of 6.45%. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. Equities research analysts expect that Skyline Champion Co. will post 3.01 EPS for the current fiscal year.

Insider Activity at Skyline Champion

In other Skyline Champion news, insider Timothy Mark Larson sold 5,500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $83.00, for a total value of $456,500.00. Following the completion of the transaction, the insider now owns 43,300 shares in the company, valued at approximately $3,593,900. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Michael B. Berman sold 3,496 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $82.34, for a total value of $287,860.64. Following the completion of the transaction, the director now directly owns 8,099 shares in the company, valued at approximately $666,871.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Timothy Mark Larson sold 5,500 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $83.00, for a total value of $456,500.00. Following the completion of the transaction, the insider now directly owns 43,300 shares in the company, valued at approximately $3,593,900. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,636 shares of company stock worth $14,582,253. 6.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Skyline Champion

A number of hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new position in Skyline Champion during the first quarter worth $63,000. nVerses Capital LLC purchased a new position in Skyline Champion during the 3rd quarter valued at about $76,000. Kessler Investment Group LLC grew its position in Skyline Champion by 41.0% in the 2nd quarter. Kessler Investment Group LLC now owns 2,225 shares of the company’s stock valued at $151,000 after acquiring an additional 647 shares in the last quarter. Blue Trust Inc. grew its position in Skyline Champion by 77,800.0% in the 2nd quarter. Blue Trust Inc. now owns 3,116 shares of the company’s stock valued at $211,000 after acquiring an additional 3,112 shares in the last quarter. Finally, Cannon Global Investment Management LLC purchased a new stake in Skyline Champion during the second quarter worth about $217,000.

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.