Burgundy Asset Management Ltd. Decreases Holdings in Skyline Champion Co. (NYSE:SKY)

Burgundy Asset Management Ltd. decreased its holdings in Skyline Champion Co. (NYSE:SKY - Free Report) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 760,351 shares of the company's stock after selling 25,732 shares during the quarter. Burgundy Asset Management Ltd. owned about 1.33% of Skyline Champion worth $66,987,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Skyline Champion by 17.3% in the fourth quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company's stock worth $523,578,000 after acquiring an additional 876,712 shares in the last quarter. Capital World Investors raised its position in shares of Skyline Champion by 31.5% in the 4th quarter. Capital World Investors now owns 2,638,862 shares of the company's stock valued at $232,484,000 after purchasing an additional 632,718 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Skyline Champion by 17.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,646,482 shares of the company's stock worth $145,055,000 after purchasing an additional 241,326 shares in the last quarter. American Century Companies Inc. grew its position in Skyline Champion by 2.9% during the 4th quarter. American Century Companies Inc. now owns 1,411,769 shares of the company's stock worth $124,377,000 after purchasing an additional 39,262 shares during the last quarter. Finally, Capital Research Global Investors purchased a new stake in Skyline Champion during the 4th quarter worth approximately $98,978,000.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays decreased their price target on shares of Skyline Champion from $97.00 to $72.00 and set an "equal weight" rating for the company in a report on Wednesday. Royal Bank of Canada reduced their target price on Skyline Champion from $96.00 to $82.00 and set a "sector perform" rating for the company in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Skyline Champion currently has an average rating of "Hold" and an average price target of $80.60.

Skyline Champion Stock Performance

SKY traded down $3.68 during midday trading on Wednesday, hitting $66.78. 864,759 shares of the company were exchanged, compared to its average volume of 551,275. The company's 50 day simple moving average is $87.27 and its 200 day simple moving average is $93.76. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 23.49 and a beta of 1.37. Skyline Champion Co. has a 1-year low of $64.82 and a 1-year high of $116.49. 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 (NYSE:SKY - Get Free Report) last posted its earnings results on Tuesday, May 27th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). Skyline Champion had a return on equity of 13.80% and a net margin of 6.80%. The company had revenue of $593.87 million for the quarter, compared to analyst estimates of $595.42 million. During the same period last year, the business earned $0.62 earnings per share. The firm's revenue was up .7% on a year-over-year basis. As a group, sell-side analysts predict that Skyline Champion Co. will post 3.63 earnings per share for the current year.

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.