Skyline Champion (NYSE:SKY) Hits New 1-Year High – Here’s Why

Skyline Champion Co. (NYSE:SKY)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $102.10 and last traded at $102.09, with a volume of 98282 shares. The stock had previously closed at $98.14.

Analysts Set New Price Targets

SKY has been the subject of several recent research reports. Craig Hallum boosted their price target on Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays upped their price objective on shares of Skyline Champion from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their target price on shares of Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Wedbush reissued a “neutral” rating and issued a $64.00 price objective on shares of Skyline Champion in a research note on Wednesday, August 7th. Finally, StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $85.40.

Skyline Champion Price Performance

The stock has a market cap of $5.74 billion, a P/E ratio of 37.90 and a beta of 1.59. The company has a quick ratio of 1.64, a current ratio of 2.42 and a debt-to-equity ratio of 0.02. The business’s 50-day simple moving average is $93.96 and its two-hundred day simple moving average is $83.39.

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 analysts’ consensus estimates of $0.61 by $0.32. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The company had revenue of $616.88 million for the quarter, compared to analyst estimates of $600.52 million. During the same period in the previous year, the company posted $0.82 EPS. The firm’s revenue for the quarter was up 32.9% compared to the same quarter last year. Sell-side analysts expect that Skyline Champion Co. will post 3.43 EPS for the current year.

Insider Activity

In other Skyline Champion news, EVP Jonathan Wade Lyall sold 10,000 shares of the firm’s 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 sale, the executive vice president now owns 36,082 shares in the company, valued at $3,243,771.80. This trade represents a 21.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mak Capital One Llc sold 40,000 shares of Skyline Champion stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $88.87, for a total value of $3,554,800.00. Following the sale, the director now owns 2,716,500 shares in the company, valued at $241,415,355. This represents a 1.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,000 shares of company stock worth $11,666,600. 6.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Skyline Champion

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Truvestments Capital LLC purchased a new stake in shares of Skyline Champion in the third quarter valued at approximately $32,000. Quarry LP bought a new stake in Skyline Champion during the third quarter valued at about $67,000. nVerses Capital LLC purchased a new position in Skyline Champion in the third quarter valued at about $76,000. Kessler Investment Group LLC lifted its position in shares of Skyline Champion by 41.0% during the second quarter. Kessler Investment Group LLC now owns 2,225 shares of the company’s stock valued at $151,000 after buying an additional 647 shares during the last quarter. Finally, MML Investors Services LLC purchased a new position in shares of Skyline Champion in the 3rd quarter worth approximately $216,000.

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.