Craig Hallum Cuts Skyline Champion (NYSE:SKY) Price Target to $71.00

Skyline Champion (NYSE:SKY – Get Rating) had its price objective decreased by Craig Hallum from $80.00 to $71.00 in a research report sent to investors on Wednesday morning, The Fly reports.

Other equities research analysts have also issued reports about the company. Barclays reduced their price objective on Skyline Champion from $84.00 to $71.00 and set an overweight rating for the company in a research note on Wednesday. Royal Bank of Canada dropped their price target on Skyline Champion from $87.00 to $61.00 in a research note on Wednesday. Zacks Investment Research lowered shares of Skyline Champion from a buy rating to a hold rating in a research note on Thursday, April 7th. Finally, StockNews.com assumed coverage on shares of Skyline Champion in a research report on Thursday, March 31st. They issued a hold rating on the stock. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Buy and a consensus target price of $65.60.

Shares of Skyline Champion stock opened at $54.49 on Wednesday. Skyline Champion has a 52 week low of $44.00 and a 52 week high of $85.92. The company has a current ratio of 2.24, a quick ratio of 1.59 and a debt-to-equity ratio of 0.02. The stock has a market cap of $3.10 billion, a PE ratio of 15.98 and a beta of 1.92. The company’s 50-day moving average price is $53.99 and its two-hundred day moving average price is $66.24.

Skyline Champion (NYSE:SKY – Get Rating) last released its earnings results on Monday, May 23rd. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.51. The business had revenue of $638.12 million for the quarter, compared to the consensus estimate of $561.80 million. Skyline Champion had a net margin of 9.68% and a return on equity of 30.44%. The business’s revenue for the quarter was up 42.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 EPS. On average, equities analysts predict that Skyline Champion will post 3.81 EPS for the current fiscal year.

In other Skyline Champion news, VP Timothy A. Burkhardt sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $68.55, for a total value of $171,375.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Erin Mulligan Nelson sold 6,508 shares of the firm’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $52.83, for a total value of $343,817.64. Following the sale, the director now directly owns 1,750 shares of the company’s stock, valued at $92,452.50. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SKY. Point72 Hong Kong Ltd bought a new stake in Skyline Champion in the first quarter worth $160,000. Quantamental Technologies LLC bought a new position in shares of Skyline Champion in the 1st quarter valued at approximately $471,000. Dynamic Technology Lab Private Ltd lifted its holdings in Skyline Champion by 81.5% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 17,530 shares of the company’s stock worth $962,000 after purchasing an additional 7,870 shares during the last quarter. Wellington Management Group LLP boosted its position in 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. Finally, State Street Corp grew 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 valued at $80,482,000 after purchasing an additional 116,078 shares during the last quarter. Institutional investors and hedge funds own 98.48% of the company’s stock.

About Skyline Champion (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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