Brokerages Set Skyline Champion Co. (NYSE:SKY) Price Target at $85.40

Skyline Champion Co. (NYSE:SKY) has received an average recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $85.40.

SKY has been the subject of a number of research reports. Barclays lifted their price target on Skyline Champion from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Royal Bank of Canada raised their price target on shares of Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Craig Hallum upped 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, October 30th. Finally, 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.

Skyline Champion Price Performance

NYSE SKY opened at $90.97 on Friday. The firm’s fifty day simple moving average is $96.49 and its two-hundred day simple moving average is $90.75. The firm has a market capitalization of $5.22 billion, a P/E ratio of 35.12 and a beta of 1.63. The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.02. Skyline Champion has a 12-month low of $64.82 and a 12-month high of $116.49.

Skyline Champion (NYSE:SKY) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 earnings per share. Analysts forecast that Skyline Champion will post 3.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKY. Oppenheimer Asset Management Inc. increased its stake in shares of Skyline Champion by 30.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,067 shares of the company’s stock valued at $547,000 after purchasing an additional 1,885 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Skyline Champion by 2.8% in the second quarter. Envestnet Asset Management Inc. now owns 27,345 shares of the company’s stock valued at $1,853,000 after buying an additional 737 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Skyline Champion during the 2nd quarter worth approximately $923,000. Seven Eight Capital LP lifted its position in shares of Skyline Champion by 154.4% during the 2nd quarter. Seven Eight Capital LP now owns 21,783 shares of the company’s stock valued at $1,476,000 after buying an additional 13,220 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake in Skyline Champion by 24.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 106,555 shares of the company’s stock valued at $7,219,000 after acquiring an additional 21,200 shares during the period.

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.