Skyline Champion (NYSE:SKY) Hits New 1-Year High at $91.70

Skyline Champion Co. (NYSE:SKY)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $91.70 and last traded at $91.67, with a volume of 50315 shares trading hands. The stock had previously closed at $88.34.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SKY shares. Royal Bank of Canada lifted their price target on shares of Skyline Champion from $68.00 to $82.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Barclays boosted their target price on Skyline Champion from $68.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Wedbush reaffirmed a “neutral” rating and set a $64.00 target price on shares of Skyline Champion in a research report on Wednesday, August 7th. StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Craig Hallum cut their price objective on shares of Skyline Champion from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $78.75.

Skyline Champion Price Performance

The firm has a market capitalization of $5.35 billion, a PE ratio of 36.42 and a beta of 1.57. The firm’s fifty day moving average price is $76.84 and its 200 day moving average price is $77.80. The company has a current ratio of 2.33, a quick ratio of 1.57 and a debt-to-equity ratio of 0.02.

Skyline Champion (NYSE:SKY) last issued its earnings results on Tuesday, August 6th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. Skyline Champion had a return on equity of 13.07% and a net margin of 6.45%. The firm had revenue of $627.80 million for the quarter, compared to the consensus estimate of $600.39 million. During the same quarter in the prior year, the business earned $0.89 earnings per share. The company’s revenue was up 35.1% compared to the same quarter last year. As a group, equities analysts forecast that Skyline Champion Co. will post 3.01 earnings per share for the current year.

Insider Buying and Selling

In other Skyline Champion news, Director Erin Mulligan Nelson sold 1,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $83.18, for a total value of $83,180.00. Following the completion of the transaction, the director now owns 5,170 shares in the company, valued at $430,040.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Erin Mulligan Nelson sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $83.18, for a total transaction of $83,180.00. Following the completion of the transaction, the director now directly owns 5,170 shares of the company’s stock, valued at approximately $430,040.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Joseph A. Kimmell sold 2,964 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $88.60, for a total transaction of $262,610.40. Following the transaction, the executive vice president now owns 47,262 shares of the company’s stock, valued at $4,187,413.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,178 shares of company stock valued at $3,871,728. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of Skyline Champion

Several large investors have recently made changes to their positions in the company. Mackenzie Financial Corp acquired a new stake in Skyline Champion during the 4th quarter worth $246,000. State of New Jersey Common Pension Fund D boosted its position in Skyline Champion by 18.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 41,897 shares of the company’s stock worth $3,111,000 after acquiring an additional 6,400 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Skyline Champion by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 10,909 shares of the company’s stock valued at $810,000 after acquiring an additional 150 shares in the last quarter. Van ECK Associates Corp raised its holdings in Skyline Champion by 38.2% in the 4th quarter. Van ECK Associates Corp now owns 16,634 shares of the company’s stock valued at $1,235,000 after acquiring an additional 4,600 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Skyline Champion by 18.6% in the 4th quarter. Victory Capital Management Inc. now owns 423,213 shares of the company’s stock worth $31,428,000 after purchasing an additional 66,293 shares in the last quarter.

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.