Skyline Champion (NYSE:SKY) Stock Price Down 5% – Time to Sell?

Skyline Champion Co. (NYSE:SKY) dropped 5% during mid-day trading on Monday . The company traded as low as $91.17 and last traded at $91.20. Approximately 393,471 shares changed hands during trading, a decline of 10% from the average daily volume of 438,759 shares. The stock had previously closed at $96.03.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SKY. Barclays boosted their target price on shares of Skyline Champion from $85.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Jefferies Financial Group raised their price objective 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. Royal Bank of Canada boosted their target price on Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Finally, Craig Hallum raised their price target on Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $85.40.

Skyline Champion Price Performance

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 company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 35.48 and a beta of 1.59. The stock’s 50-day moving average price is $97.93 and its 200-day moving average price is $88.13.

Skyline Champion (NYSE:SKY) last issued its quarterly earnings results 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. The business had revenue of $616.88 million for the quarter, compared to analyst estimates of $600.52 million. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The firm’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Equities research analysts anticipate that Skyline Champion Co. will post 3.43 earnings per share for the current year.

Institutional Investors Weigh In On Skyline Champion

Institutional investors have recently modified their holdings of the business. Truvestments Capital LLC acquired a new stake in Skyline Champion during the 3rd quarter worth $32,000. Quarry LP bought a new position in shares of Skyline Champion in the 3rd quarter worth $67,000. nVerses Capital LLC bought a new stake in Skyline Champion in the third quarter valued at about $76,000. MML Investors Services LLC acquired a new position in Skyline Champion in the third quarter valued at about $216,000. Finally, CWM LLC boosted its holdings in 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 buying 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.