Burgundy Asset Management Ltd. Grows Holdings in Skyline Champion Co. (NYSE:SKY)

Burgundy Asset Management Ltd. boosted its position in shares of Skyline Champion Co. (NYSE:SKY) by 3.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 768,346 shares of the company’s stock after acquiring an additional 24,353 shares during the period. Burgundy Asset Management Ltd.’s holdings in Skyline Champion were worth $52,055,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Skyline Champion by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,310,969 shares of the company’s stock valued at $97,356,000 after purchasing an additional 81,823 shares during the period. Principal Financial Group Inc. raised its holdings in Skyline Champion by 21.9% during the fourth quarter. Principal Financial Group Inc. now owns 15,964 shares of the company’s stock valued at $1,185,000 after acquiring an additional 2,863 shares during the period. Norges Bank purchased a new position in shares of Skyline Champion in the fourth quarter valued at about $34,476,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Skyline Champion in the fourth quarter worth about $620,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Skyline Champion by 378.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 33,669 shares of the company’s stock worth $2,500,000 after purchasing an additional 26,631 shares in the last quarter.

Insider Activity

In related news, Director Michael B. Berman sold 3,496 shares of Skyline Champion stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $82.34, for a total value of $287,860.64. Following the completion of the transaction, the director now owns 8,099 shares in the company, valued at $666,871.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Michael B. Berman sold 3,496 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $82.34, for a total value of $287,860.64. Following the completion of the sale, the director now directly owns 8,099 shares of the company’s stock, valued at approximately $666,871.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erin Mulligan Nelson sold 1,000 shares of Skyline Champion stock in a transaction that occurred on Friday, August 9th. The stock was 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 of the company’s stock, valued at approximately $430,040.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 163,636 shares of company stock worth $14,582,253. 6.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on Skyline Champion from $68.00 to $82.00 and gave the company a “sector perform” rating in a research note on Thursday, August 8th. Craig Hallum lowered their target price 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. StockNews.com upgraded shares of Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Wedbush reiterated a “neutral” rating and issued a $64.00 price target on shares of Skyline Champion in a report on Wednesday, August 7th. Finally, Barclays increased their price objective on shares of Skyline Champion from $68.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $78.75.

Skyline Champion Stock Down 1.3 %

Shares of SKY opened at $92.87 on Thursday. The business’s 50 day simple moving average is $84.78 and its 200-day simple moving average is $79.03. Skyline Champion Co. has a 1 year low of $52.12 and a 1 year high of $97.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.33 and a quick ratio of 1.57. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 36.56 and a beta of 1.58.

Skyline Champion (NYSE:SKY) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. Skyline Champion had a net margin of 6.45% and a return on equity of 13.07%. The company 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 firm earned $0.89 earnings per share. Skyline Champion’s revenue was up 35.1% on a year-over-year basis. As a group, equities analysts expect that Skyline Champion Co. will post 3.01 earnings per share for the current fiscal year.

Skyline Champion 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.