Royal Bank of Canada Has Lowered Expectations for Skyline Champion (NYSE:SKY) Stock Price

Skyline Champion (NYSE:SKY) had its price target decreased by Royal Bank of Canada from $96.00 to $82.00 in a report released on Wednesday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Separately, Barclays decreased their price target on Skyline Champion from $97.00 to $72.00 and set an “equal weight” rating for the company in a research note on Wednesday. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Skyline Champion currently has an average rating of “Hold” and a consensus price target of $80.60.

Skyline Champion Price Performance

Shares of SKY stock opened at $65.45 on Wednesday. Skyline Champion has a 1-year low of $64.82 and a 1-year high of $116.49. The stock’s 50-day moving average is $86.70 and its 200 day moving average is $93.56. The company has a market cap of $3.75 billion, a P/E ratio of 23.05 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.

Skyline Champion (NYSE:SKY) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). Skyline Champion had a net margin of 6.80% and a return on equity of 13.80%. The company had revenue of $593.87 million for the quarter, compared to the consensus estimate of $595.42 million. During the same period in the previous year, the business earned $0.62 EPS. Skyline Champion’s revenue for the quarter was up .7% compared to the same quarter last year. Research analysts predict that Skyline Champion will post 3.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Kovitz Investment Group Partners LLC raised its stake in shares of Skyline Champion by 2.7% in the first quarter. Kovitz Investment Group Partners LLC now owns 5,514 shares of the company’s stock worth $523,000 after purchasing an additional 145 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Skyline Champion by 5.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,336 shares of the company’s stock valued at $316,000 after acquiring an additional 172 shares in the last quarter. Summit Investment Advisors Inc. raised its position in Skyline Champion by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,613 shares of the company’s stock valued at $495,000 after acquiring an additional 178 shares in the last quarter. HighTower Advisors LLC raised its position in Skyline Champion by 3.7% during the fourth quarter. HighTower Advisors LLC now owns 5,019 shares of the company’s stock valued at $442,000 after acquiring an additional 180 shares in the last quarter. Finally, Xponance Inc. raised its position in Skyline Champion by 5.0% during the first quarter. Xponance Inc. now owns 4,048 shares of the company’s stock valued at $384,000 after acquiring an additional 193 shares in 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.