Skyline Champion (NYSE:SKY) Sees Strong Trading Volume – Here’s What Happened

Shares of Skyline Champion Co. (NYSE:SKY) saw an uptick in trading volume on Monday . 925,176 shares were traded during mid-day trading, an increase of 143% from the previous session’s volume of 381,360 shares.The stock last traded at $102.86 and had previously closed at $105.37.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SKY. Craig Hallum upped their price objective on shares of Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays increased 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. Royal Bank of Canada increased their target price on shares of Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group increased their target price on shares of Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Skyline Champion has a consensus rating of “Hold” and a consensus price target of $85.40.

Skyline Champion Stock Performance

The firm has a market capitalization of $5.47 billion, a P/E ratio of 36.78 and a beta of 1.59. The company’s 50 day moving average is $98.01 and its 200-day moving average is $87.28. The company has a quick ratio of 1.64, a current ratio of 2.42 and a debt-to-equity ratio of 0.02.

Skyline Champion (NYSE:SKY) last released its quarterly earnings data on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.32. Skyline Champion had a net margin of 6.42% and a return on equity of 13.20%. The firm had revenue of $616.88 million for the quarter, compared to analyst estimates of $600.52 million. During the same period last year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was up 32.9% compared to the same quarter last year. As a group, equities analysts anticipate that Skyline Champion Co. will post 3.43 EPS for the current year.

Institutional Trading of Skyline Champion

Several institutional investors and hedge funds have recently made changes to their positions in SKY. SummerHaven Investment Management LLC raised its holdings in shares of Skyline Champion by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 11,262 shares of the company’s stock valued at $763,000 after purchasing an additional 216 shares during the last quarter. Penbrook Management LLC increased its holdings in Skyline Champion by 2.7% during the second quarter. Penbrook Management LLC now owns 9,810 shares of the company’s stock worth $665,000 after buying an additional 260 shares during the last quarter. Argent Capital Management LLC increased its holdings in Skyline Champion by 44.8% during the second quarter. Argent Capital Management LLC now owns 13,666 shares of the company’s stock worth $926,000 after buying an additional 4,231 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Skyline Champion by 7.0% during the second quarter. Bank of New York Mellon Corp now owns 234,605 shares of the company’s stock worth $15,894,000 after buying an additional 15,277 shares during the last quarter. Finally, Burney Co. purchased a new stake in Skyline Champion during the second quarter worth about $231,000.

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.