Skyline Champion (NYSE:SKY) Shares Gap Down After Earnings Miss

Skyline Champion Co. (NYSE:SKY) shares gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $84.26, but opened at $74.95. Skyline Champion shares last traded at $73.33, with a volume of 245,674 shares.

The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The business had revenue of $593.87 million during the quarter, compared to analysts’ expectations of $595.42 million. Skyline Champion had a return on equity of 13.80% and a net margin of 6.80%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 earnings per share.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SKY shares. Royal Bank of Canada lifted their target price on Skyline Champion from $88.00 to $96.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Barclays lowered their target price on Skyline Champion from $106.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $88.40.

Institutional Investors Weigh In On Skyline Champion

Several hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in Skyline Champion by 80.7% in the 4th quarter. Bank of New York Mellon Corp now owns 351,060 shares of the company’s stock valued at $30,928,000 after acquiring an additional 156,757 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Skyline Champion during the fourth quarter worth $712,000. Van ECK Associates Corp boosted its stake in Skyline Champion by 21.8% during the fourth quarter. Van ECK Associates Corp now owns 40,108 shares of the company’s stock worth $3,534,000 after acquiring an additional 7,184 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Skyline Champion by 85.0% in the fourth quarter. Rhumbline Advisers now owns 151,781 shares of the company’s stock valued at $13,372,000 after buying an additional 69,756 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Skyline Champion during the fourth quarter worth about $1,692,000.

Skyline Champion Price Performance

The stock has a market cap of $4.04 billion, a PE ratio of 24.81 and a beta of 1.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.59 and a quick ratio of 1.74. The firm’s 50 day moving average price is $87.27 and its two-hundred day moving average price is $93.76.

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.