Royal Bank of Canada Forecasts Strong Price Appreciation for Skyline Champion (NYSE:SKY) Stock

Skyline Champion (NYSE:SKY) had its price objective upped by Royal Bank of Canada from $88.00 to $96.00 in a report released on Thursday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

SKY has been the topic of several other reports. Barclays raised their price objective on Skyline Champion from $85.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Craig Hallum increased their target price on Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their target price on Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $90.20.

Skyline Champion Stock Performance

NYSE:SKY opened at $105.60 on Thursday. The stock’s 50-day simple moving average is $94.76 and its 200 day simple moving average is $92.33. The firm has a market capitalization of $6.06 billion, a PE ratio of 40.77 and a beta of 1.62. The company has a quick ratio of 1.64, a current ratio of 2.42 and a debt-to-equity ratio of 0.02. Skyline Champion has a twelve month low of $64.82 and a twelve month high of $116.49.

Skyline Champion (NYSE:SKY) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.24. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. On average, analysts anticipate that Skyline Champion will post 3.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Skyline Champion

Several large investors have recently bought and sold shares of SKY. Squarepoint Ops LLC bought a new position in shares of Skyline Champion during the second quarter worth about $327,000. Millennium Management LLC raised its position in shares of Skyline Champion by 75.8% during the second quarter. Millennium Management LLC now owns 78,370 shares of the company’s stock worth $5,310,000 after acquiring an additional 33,794 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Skyline Champion by 3.4% during the second quarter. The Manufacturers Life Insurance Company now owns 32,642 shares of the company’s stock worth $2,211,000 after acquiring an additional 1,064 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Skyline Champion by 86.4% during the third quarter. SG Americas Securities LLC now owns 12,903 shares of the company’s stock worth $1,224,000 after acquiring an additional 5,979 shares during the last quarter. Finally, CWM LLC raised its position in shares of Skyline Champion by 7.4% during the third quarter. CWM LLC now owns 2,286 shares of the company’s stock worth $217,000 after acquiring an additional 158 shares during the last quarter.

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.