Skyline Champion (NYSE:SKY) Sets New 52-Week High at $93.67

Skyline Champion Co. (NYSE:SKY)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $93.67 and last traded at $93.41, with a volume of 300026 shares changing hands. The stock had previously closed at $91.19.

Analyst Upgrades and Downgrades

SKY has been the subject of a number of research analyst reports. Wedbush reissued a “neutral” rating and issued a $64.00 price objective on shares of Skyline Champion in a research note on Wednesday, August 7th. Craig Hallum cut their price objective on Skyline Champion from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Royal Bank of Canada upped their target price on Skyline Champion from $68.00 to $82.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Barclays upped their price objective 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. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $78.75.

Skyline Champion Price Performance

The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 36.78 and a beta of 1.57. The company has a fifty day simple moving average of $78.76 and a 200 day simple moving average of $78.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.57 and a current ratio of 2.33.

Skyline Champion (NYSE:SKY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. The company 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 firm’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 earnings per share. Equities research analysts forecast that Skyline Champion Co. will post 3.01 EPS for the current fiscal year.

Insider Transactions at Skyline Champion

In related news, EVP Jonathan Wade Lyall sold 12,448 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $87.88, for a total value of $1,093,930.24. Following the transaction, the executive vice president now owns 46,082 shares in the company, valued at $4,049,686.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Erin Mulligan Nelson sold 1,000 shares of Skyline Champion stock in a transaction on 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 sale, the director now owns 5,170 shares in the company, valued at approximately $430,040.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan Wade Lyall sold 12,448 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $87.88, for a total transaction of $1,093,930.24. Following the transaction, the executive vice president now directly owns 46,082 shares in the company, valued at $4,049,686.16. The disclosure for this sale can be found here. Insiders sold a total of 47,136 shares of company stock worth $4,066,583 over the last three months. 6.90% of the stock is owned by company insiders.

Institutional Trading of Skyline Champion

Several hedge funds have recently bought and sold shares of SKY. Headlands Technologies LLC bought a new position in Skyline Champion in the 1st quarter valued at about $63,000. Kessler Investment Group LLC purchased a new position in shares of Skyline Champion during the fourth quarter valued at approximately $123,000. Vestmark Advisory Solutions Inc. purchased a new position in shares of Skyline Champion during the fourth quarter valued at approximately $219,000. Blue Trust Inc. grew its holdings in Skyline Champion by 77,800.0% during the second quarter. Blue Trust Inc. now owns 3,116 shares of the company’s stock worth $211,000 after buying an additional 3,112 shares in the last quarter. Finally, Cannon Global Investment Management LLC purchased a new stake in Skyline Champion in the 2nd quarter valued at $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.