Royal Bank of Canada Boosts Skyline Champion (NYSE:SKY) Price Target to $88.00

Skyline Champion (NYSE:SKY) had its price objective upped by Royal Bank of Canada from $82.00 to $88.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other equities analysts have also weighed in on SKY. Wedbush restated a “neutral” rating and issued a $64.00 price objective on shares of Skyline Champion in a report on Wednesday, August 7th. 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. Craig Hallum increased their price objective on shares of Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday. Jefferies Financial Group increased their price objective on shares of Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, StockNews.com upgraded shares of Skyline Champion from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $85.40.

Skyline Champion Price Performance

SKY opened at $91.49 on Wednesday. Skyline Champion has a one year low of $53.84 and a one year high of $101.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.42 and a quick ratio of 1.57. The company’s 50 day simple moving average is $92.53 and its 200-day simple moving average is $81.60. The stock has a market capitalization of $5.25 billion, a P/E ratio of 35.32 and a beta of 1.59.

Skyline Champion (NYSE:SKY) last released its quarterly earnings results on Monday, October 28th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.61 by $0.32. Skyline Champion had a net margin of 6.42% and a return on equity of 13.20%. 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 earned $0.82 earnings per share. Skyline Champion’s revenue was up 32.9% compared to the same quarter last year. Sell-side analysts anticipate that Skyline Champion will post 3.33 earnings per share for the current fiscal year.

Insider Activity at Skyline Champion

In related news, Director Mak Capital One Llc sold 80,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $90.16, for a total value of $7,212,800.00. Following the completion of the sale, the director now owns 2,920,000 shares in the company, valued at $263,267,200. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Skyline Champion news, EVP Jonathan Wade Lyall sold 10,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $89.90, for a total transaction of $899,000.00. Following the completion of the transaction, the executive vice president now owns 36,082 shares in the company, valued at approximately $3,243,771.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mak Capital One Llc sold 80,000 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $90.16, for a total value of $7,212,800.00. Following the transaction, the director now owns 2,920,000 shares of the company’s stock, valued at approximately $263,267,200. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 163,636 shares of company stock worth $14,582,253 in the last quarter. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Skyline Champion

A number of large investors have recently added to or reduced their stakes in SKY. Headlands Technologies LLC bought a new position in Skyline Champion during the 1st quarter worth about $63,000. nVerses Capital LLC bought a new position in shares of Skyline Champion in the 3rd quarter valued at about $76,000. Kessler Investment Group LLC grew its holdings in shares of Skyline Champion by 41.0% in the 2nd quarter. Kessler Investment Group LLC now owns 2,225 shares of the company’s stock valued at $151,000 after acquiring an additional 647 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Skyline Champion by 77,800.0% in the 2nd quarter. Blue Trust Inc. now owns 3,116 shares of the company’s stock valued at $211,000 after acquiring an additional 3,112 shares in the last quarter. Finally, Cannon Global Investment Management LLC bought a new position in shares of Skyline Champion in the 2nd quarter valued at about $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.