Skyline Champion (NYSE:SKY) Given New $85.00 Price Target at Barclays

Skyline Champion (NYSE:SKY) had its price target upped by investment analysts at Barclays from $68.00 to $85.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 1.36% from the company’s current price.

Several other research firms have also commented on SKY. StockNews.com raised shares of Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Wedbush reissued a “neutral” rating and issued a $64.00 price target on shares of Skyline Champion in a research report on Wednesday, August 7th. Craig Hallum cut their price target on Skyline Champion from $88.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Finally, Royal Bank of Canada lifted their price objective on Skyline Champion from $68.00 to $82.00 and gave the company a “sector perform” rating in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $78.75.

Skyline Champion Stock Up 2.5 %

Shares of NYSE:SKY opened at $86.17 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.57 and a current ratio of 2.33. Skyline Champion has a 52-week low of $52.12 and a 52-week high of $86.81. The firm has a market capitalization of $4.96 billion, a P/E ratio of 33.93 and a beta of 1.57. The stock has a 50 day moving average price of $73.65 and a 200-day moving average price of $76.87.

Skyline Champion (NYSE:SKY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.69 by $0.22. The business had revenue of $627.80 million during the quarter, compared to analyst estimates of $600.39 million. Skyline Champion had a return on equity of 13.07% and a net margin of 6.45%. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 earnings per share. As a group, equities research analysts anticipate that Skyline Champion will post 2.97 EPS for the current fiscal year.

Insider Transactions at Skyline Champion

In related news, EVP Joseph A. Kimmell sold 10,042 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $70.12, for a total value of $704,145.04. Following the completion of the transaction, the executive vice president now directly owns 47,262 shares in the company, valued at approximately $3,314,011.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Joseph A. Kimmell sold 10,042 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $70.12, for a total transaction of $704,145.04. Following the sale, the executive vice president now directly owns 47,262 shares of the company’s stock, valued at $3,314,011.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Erin Mulligan Nelson sold 1,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $83.18, for a total value of $83,180.00. Following the completion of the transaction, the director now directly owns 5,170 shares of the company’s stock, valued at approximately $430,040.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,538 shares of company stock worth $1,783,616. Corporate insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Skyline Champion

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in shares of Skyline Champion by 0.8% in the fourth quarter. Wellington Management Group LLP now owns 8,047,679 shares of the company’s stock worth $597,621,000 after buying an additional 62,748 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Skyline Champion by 2.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 2,642,123 shares of the company’s stock valued at $179,004,000 after acquiring an additional 53,965 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Skyline Champion by 6.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,310,969 shares of the company’s stock worth $97,356,000 after purchasing an additional 81,823 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Skyline Champion by 0.3% in the 2nd quarter. William Blair Investment Management LLC now owns 1,197,889 shares of the company’s stock worth $81,157,000 after purchasing an additional 3,313 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in Skyline Champion by 4.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 844,367 shares of the company’s stock valued at $57,206,000 after purchasing an additional 35,880 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.