Skyline Champion (NYSE:SKY) Sees Strong Trading Volume

Shares of Skyline Champion Co. (NYSE:SKY) saw unusually-high trading volume on Thursday . Approximately 372,548 shares changed hands during trading, an increase of 18% from the previous session’s volume of 314,445 shares.The stock last traded at $73.29 and had previously closed at $69.41.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SKY. StockNews.com downgraded shares of Skyline Champion from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd. Barclays decreased their target price on Skyline Champion from $76.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, May 29th. Wedbush reiterated a “neutral” rating and issued a $72.00 price target on shares of Skyline Champion in a report on Wednesday, May 22nd. Royal Bank of Canada decreased their price objective on shares of Skyline Champion from $73.00 to $68.00 and set a “sector perform” rating for the company in a report on Thursday, May 23rd. Finally, Craig Hallum cut their target price on shares of Skyline Champion from $88.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Skyline Champion presently has an average rating of “Hold” and an average target price of $70.80.

Skyline Champion Trading Up 4.5 %

The stock has a market cap of $4.19 billion, a P/E ratio of 27.33 and a beta of 1.57. The stock’s fifty day moving average price is $72.22 and its 200 day moving average price is $75.49. The company has a current ratio of 2.36, a quick ratio of 1.54 and a debt-to-equity ratio of 0.02.

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

Insider Transactions at Skyline Champion

In other Skyline Champion news, insider Timothy Mark Larson sold 3,500 shares of Skyline Champion stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $71.98, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Joseph A. Kimmell sold 10,042 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 47,262 shares in the company, valued at $3,314,011.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timothy Mark Larson sold 3,500 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $71.98, for a total transaction of $251,930.00. Following the sale, the insider now owns 48,800 shares of the company’s stock, valued at $3,512,624. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in shares of Skyline Champion during the first quarter valued at approximately $63,000. Kessler Investment Group LLC purchased a new position in Skyline Champion during the fourth quarter valued at $123,000. Vestmark Advisory Solutions Inc. bought a new stake in Skyline Champion in the 4th quarter valued at $219,000. Outlook Wealth Advisors LLC purchased a new stake in Skyline Champion in the 4th quarter worth $231,000. Finally, Mackenzie Financial Corp bought a new position in shares of Skyline Champion during the 4th quarter valued at about $246,000.

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.