Skyline Champion (NYSE:SKY) Releases Quarterly Earnings Results, Beats Expectations By $0.51 EPS

Skyline Champion (NYSE:SKY – Get Rating) announced its earnings results on Monday. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.00 by $0.51, Briefing.com reports. Skyline Champion had a return on equity of 30.44% and a net margin of 9.68%. The business had revenue of $638.12 million during the quarter, compared to the consensus estimate of $561.80 million. During the same period in the prior year, the business posted $0.61 earnings per share. Skyline Champion’s revenue was up 42.5% compared to the same quarter last year.

SKY stock opened at $45.10 on Wednesday. The business has a fifty day moving average price of $55.19 and a 200 day moving average price of $66.74. Skyline Champion has a fifty-two week low of $42.68 and a fifty-two week high of $85.92. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 13.23 and a beta of 1.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.24 and a quick ratio of 1.59.

In other news, VP Timothy A. Burkhardt sold 2,500 shares of Skyline Champion stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $68.55, for a total value of $171,375.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in shares of Skyline Champion by 6.1% during the first quarter. Wellington Management Group LLP now owns 5,864,485 shares of the company’s stock worth $321,842,000 after purchasing an additional 335,974 shares during the period. Vanguard Group Inc. grew its stake in shares of Skyline Champion by 3.2% during the first quarter. Vanguard Group Inc. now owns 5,490,446 shares of the company’s stock worth $301,316,000 after purchasing an additional 167,921 shares during the period. BlackRock Inc. lifted its holdings in Skyline Champion by 3.1% during the fourth quarter. BlackRock Inc. now owns 4,013,384 shares of the company’s stock worth $316,977,000 after acquiring an additional 120,875 shares in the last quarter. State Street Corp lifted its holdings in Skyline Champion by 8.6% during the first quarter. State Street Corp now owns 1,466,505 shares of the company’s stock worth $80,482,000 after acquiring an additional 116,078 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Skyline Champion by 15.5% during the first quarter. Invesco Ltd. now owns 447,534 shares of the company’s stock worth $24,561,000 after acquiring an additional 60,114 shares in the last quarter. 98.48% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently commented on SKY. Barclays reduced their target price on Skyline Champion from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday. StockNews.com initiated coverage on Skyline Champion in a report on Thursday, March 31st. They set a “hold” rating on the stock. Royal Bank of Canada lowered their price objective on Skyline Champion from $87.00 to $61.00 in a report on Wednesday. Zacks Investment Research downgraded Skyline Champion from a “buy” rating to a “hold” rating in a research report on Thursday, April 7th. Finally, Craig Hallum reduced their price objective on Skyline Champion from $111.00 to $80.00 in a research report on Monday, April 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $72.40.

Skyline Champion Company Profile (Get Rating)

Skyline Champion Corporation operates as a factory-built housing company in North America. The company offers manufactured and modular homes, park models RVs, accessory dwelling units, and modular buildings for the multi-family, hospitality, and senior and workforce housing sectors. It builds homes under the brand names of Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes in the United Statesp; and Moduline and SRI Homes in western Canada.

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