Skyline Champion (NYSE:SKY) Stock Price Down 5% – Here’s Why

Skyline Champion Co. (NYSE:SKY)’s stock price was down 5% during trading on Monday . The stock traded as low as $91.17 and last traded at $91.20. Approximately 393,471 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 438,759 shares. The stock had previously closed at $96.03.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Skyline Champion from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their target price on Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Craig Hallum raised their price target on Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their price objective on Skyline Champion from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $85.40.

Skyline Champion Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.02, a current ratio of 2.42 and a quick ratio of 1.64. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 35.48 and a beta of 1.59. The firm has a 50-day moving average price of $97.93 and a two-hundred day moving average price of $88.13.

Skyline Champion (NYSE:SKY) last released its quarterly earnings results on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.32. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The firm had revenue of $616.88 million during the quarter, compared to the consensus estimate of $600.52 million. During the same quarter in the prior year, the firm posted $0.82 EPS. The business’s revenue was up 32.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Skyline Champion Co. will post 3.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Skyline Champion

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SkyView Investment Advisors LLC boosted its stake in shares of Skyline Champion by 2.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 6,243 shares of the company’s stock worth $592,000 after buying an additional 132 shares during the last quarter. CWM LLC boosted its position in Skyline Champion by 7.4% during the third quarter. CWM LLC now owns 2,286 shares of the company’s stock valued at $217,000 after purchasing an additional 158 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in Skyline Champion by 5.1% during the third quarter. Verdence Capital Advisors LLC now owns 3,514 shares of the company’s stock valued at $333,000 after purchasing an additional 171 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Skyline Champion by 0.9% in the third quarter. BNP Paribas Financial Markets now owns 33,894 shares of the company’s stock valued at $3,215,000 after purchasing an additional 299 shares in the last quarter. Finally, Portside Wealth Group LLC increased its position in shares of Skyline Champion by 10.0% during the 3rd quarter. Portside Wealth Group LLC now owns 3,339 shares of the company’s stock worth $317,000 after purchasing an additional 304 shares during 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.