Barclays Issues Pessimistic Forecast for Skyline Champion (NYSE:SKY) Stock Price

Skyline Champion (NYSE:SKY - Get Free Report) had its price target dropped by stock analysts at Barclays from $97.00 to $72.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's target price points to a potential upside of 10.30% from the company's previous close.

Separately, Royal Bank of Canada boosted their price target on Skyline Champion from $88.00 to $96.00 and gave the company a "sector perform" rating in a report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Skyline Champion currently has an average rating of "Hold" and a consensus price target of $80.60.

Skyline Champion Price Performance

Shares of SKY traded down $0.34 during mid-day trading on Wednesday, hitting $65.28. The company's stock had a trading volume of 1,562,218 shares, compared to its average volume of 564,701. The company has a current ratio of 2.59, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02. Skyline Champion has a 1-year low of $64.47 and a 1-year high of $116.49. The firm has a market capitalization of $3.74 billion, a P/E ratio of 22.99 and a beta of 1.37. The firm has a 50-day simple moving average of $86.06 and a 200 day simple moving average of $93.34.

Skyline Champion (NYSE:SKY - Get Free Report) last released its quarterly earnings results 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 return on equity of 13.80% and a net margin of 6.80%. The firm had revenue of $593.87 million during the quarter, compared to analyst estimates of $595.42 million. During the same quarter in the prior year, the company earned $0.62 EPS. The business's revenue was up .7% on a year-over-year basis. Analysts predict that Skyline Champion will post 3.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Skyline Champion

Several large investors have recently made changes to their positions in SKY. Barclays PLC grew its holdings in shares of Skyline Champion by 136.9% during the third quarter. Barclays PLC now owns 111,140 shares of the company's stock valued at $10,543,000 after buying an additional 64,229 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Skyline Champion during the 4th quarter valued at about $210,000. KBC Group NV increased its holdings in shares of Skyline Champion by 53.9% in the 4th quarter. KBC Group NV now owns 2,288 shares of the company's stock valued at $202,000 after purchasing an additional 801 shares during the period. Jennison Associates LLC purchased a new stake in shares of Skyline Champion in the fourth quarter worth approximately $659,000. Finally, Guidance Capital Inc. acquired a new stake in shares of Skyline Champion during the fourth quarter worth approximately $459,000.

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.