Principal Financial Group Inc. Sells 14,649 Shares of Skyline Champion Co. (NYSE:SKY)

Principal Financial Group Inc. lowered its holdings in Skyline Champion Co. (NYSE:SKY) by 77.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,323 shares of the company’s stock after selling 14,649 shares during the period. Principal Financial Group Inc.’s holdings in Skyline Champion were worth $410,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. FMR LLC lifted its holdings in shares of Skyline Champion by 32.3% in the third quarter. FMR LLC now owns 1,491,907 shares of the company’s stock worth $141,507,000 after buying an additional 363,885 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Skyline Champion during the 3rd quarter valued at about $27,769,000. Victory Capital Management Inc. lifted its position in Skyline Champion by 46.0% in the 2nd quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock worth $45,385,000 after buying an additional 211,099 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Skyline Champion by 118.8% during the 3rd quarter. Cerity Partners LLC now owns 188,767 shares of the company’s stock valued at $17,905,000 after purchasing an additional 102,506 shares during the last quarter. Finally, State Street Corp raised its position in Skyline Champion by 4.6% in the 3rd quarter. State Street Corp now owns 1,790,962 shares of the company’s stock worth $169,873,000 after purchasing an additional 78,733 shares during the period.

Analyst Upgrades and Downgrades

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

Skyline Champion Trading Up 5.2 %

Shares of NYSE SKY opened at $90.43 on Monday. The firm’s 50 day moving average price is $97.17 and its 200-day moving average price is $89.15. Skyline Champion Co. has a 52-week low of $64.82 and a 52-week high of $116.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.64 and a current ratio of 2.42. The company has a market cap of $5.19 billion, a PE ratio of 34.92 and a beta of 1.59.

Skyline Champion (NYSE:SKY) last released its quarterly earnings data on Monday, October 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.32. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The business had revenue of $616.88 million for the quarter, compared to analysts’ expectations of $600.52 million. During the same period in the prior year, the firm posted $0.82 EPS. The firm’s quarterly revenue was up 32.9% on a year-over-year basis. On average, equities research analysts expect that Skyline Champion Co. will post 3.43 EPS for the current fiscal year.

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.