Skyline Champion (NYSE:SKY) Shares Down 5% – What’s Next?

Skyline Champion Co. (NYSE:SKY) was down 5% on Monday . The company traded as low as $91.17 and last traded at $91.20. Approximately 393,471 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 438,759 shares. The stock had previously closed at $96.03.

Analysts Set New Price Targets

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

Skyline Champion Stock Down 5.1 %

The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $98.10 and a two-hundred day simple moving average of $87.80. The company has a market cap of $5.23 billion, a PE ratio of 35.19 and a beta of 1.59.

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

Institutional Trading of Skyline Champion

A number of hedge funds and other institutional investors have recently modified their holdings of SKY. SkyView Investment Advisors LLC raised its position in shares of Skyline Champion by 2.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 6,243 shares of the company’s stock valued at $592,000 after buying an additional 132 shares during the period. CWM LLC increased its stake in Skyline Champion by 7.4% during the third quarter. CWM LLC now owns 2,286 shares of the company’s stock worth $217,000 after acquiring an additional 158 shares during the last quarter. Verdence Capital Advisors LLC raised its position in Skyline Champion by 5.1% in the third quarter. Verdence Capital Advisors LLC now owns 3,514 shares of the company’s stock valued at $333,000 after purchasing an additional 171 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Skyline Champion by 0.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 33,894 shares of the company’s stock worth $3,215,000 after purchasing an additional 299 shares during the period. Finally, Portside Wealth Group LLC increased its position in shares of Skyline Champion by 10.0% during the 3rd quarter. Portside Wealth Group LLC now owns 3,339 shares of the company’s stock worth $317,000 after purchasing an additional 304 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.