Congress Asset Management Co. MA Purchases 55,784 Shares of Skyline Champion Co. (NYSE:SKY)

Congress Asset Management Co. MA grew its position in shares of Skyline Champion Co. (NYSE:SKY) by 11.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 553,378 shares of the company’s stock after acquiring an additional 55,784 shares during the quarter. Congress Asset Management Co. MA owned about 0.96% of Skyline Champion worth $47,043,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SKY. DekaBank Deutsche Girozentrale purchased a new stake in Skyline Champion in the third quarter worth $94,000. Kessler Investment Group LLC acquired a new position in Skyline Champion in the fourth quarter valued at approximately $123,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Skyline Champion during the 3rd quarter worth approximately $216,000. Vestmark Advisory Solutions Inc. purchased a new stake in shares of Skyline Champion during the fourth quarter worth approximately $219,000. Finally, Outlook Wealth Advisors LLC purchased a new stake in Skyline Champion in the 4th quarter valued at $231,000.

Analyst Ratings Changes

A number of research firms have recently weighed in on SKY. Craig Hallum lowered their price target on Skyline Champion from $88.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Royal Bank of Canada cut their price target on Skyline Champion from $73.00 to $68.00 and set a “sector perform” rating for the company in a report on Thursday, May 23rd. StockNews.com downgraded Skyline Champion from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Barclays cut their price target on Skyline Champion from $76.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 29th. Finally, Wedbush restated a “neutral” rating and set a $72.00 price objective on shares of Skyline Champion in a research note on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Skyline Champion currently has a consensus rating of “Hold” and an average price target of $70.80.

Skyline Champion Stock Down 0.6 %

NYSE SKY opened at $71.38 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.54 and a current ratio of 2.36. The firm has a 50-day simple moving average of $74.32 and a 200 day simple moving average of $75.63. Skyline Champion Co. has a twelve month low of $52.12 and a twelve month high of $86.71. The stock has a market cap of $4.13 billion, a PE ratio of 28.10 and a beta of 1.60.

Skyline Champion (NYSE:SKY) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The business had revenue of $536.36 million for the quarter, compared to the consensus estimate of $560.90 million. Skyline Champion had a return on equity of 13.32% and a net margin of 7.24%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 EPS. On average, research analysts forecast that Skyline Champion Co. will post 2.76 EPS for the current year.

Insider Transactions at Skyline Champion

In other Skyline Champion news, EVP Joseph A. Kimmell sold 10,042 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $70.12, for a total transaction of $704,145.04. Following the completion of the sale, the executive vice president now owns 47,262 shares in the company, valued at approximately $3,314,011.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Joseph A. Kimmell sold 10,042 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $70.12, for a total value of $704,145.04. Following the completion of the sale, the executive vice president now owns 47,262 shares in the company, valued at approximately $3,314,011.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Timothy Mark Larson sold 3,500 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $71.98, for a total transaction of $251,930.00. Following the completion of the transaction, the insider now directly owns 48,800 shares of the company’s stock, valued at $3,512,624. The disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.

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.