Handelsbanken Fonder AB Boosts Position in Skyline Champion Co. (NYSE:SKY)

Handelsbanken Fonder AB raised its stake in shares of Skyline Champion Co. (NYSE:SKY - Free Report) by 27.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 19,400 shares of the company's stock after acquiring an additional 4,200 shares during the period. Handelsbanken Fonder AB's holdings in Skyline Champion were worth $1,838,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SKY. GAMMA Investing LLC lifted its position in Skyline Champion by 306.0% in the first quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock worth $96,000 after buying an additional 765 shares during the last quarter. Portside Wealth Group LLC increased its stake in shares of Skyline Champion by 8.6% during the first quarter. Portside Wealth Group LLC now owns 3,873 shares of the company's stock valued at $367,000 after buying an additional 306 shares during the period. Congress Asset Management Co. increased its stake in shares of Skyline Champion by 8.8% during the first quarter. Congress Asset Management Co. now owns 661,578 shares of the company's stock valued at $62,691,000 after buying an additional 53,543 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Skyline Champion in the fourth quarter valued at about $8,833,000. Finally, GTS Securities LLC purchased a new position in Skyline Champion in the fourth quarter valued at about $382,000.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SKY shares. Zelman & Associates upgraded Skyline Champion from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. Barclays dropped their target price on Skyline Champion from $97.00 to $72.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 28th. Finally, Royal Bank of Canada lowered their price objective on Skyline Champion from $96.00 to $82.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 28th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Skyline Champion presently has an average rating of "Hold" and an average target price of $80.60.

Skyline Champion Price Performance

Shares of NYSE:SKY traded down $3.43 during midday trading on Friday, reaching $61.34. 705,425 shares of the company's stock traded hands, compared to its average volume of 592,261. Skyline Champion Co. has a 1 year low of $61.28 and a 1 year high of $116.49. The company has a market cap of $3.51 billion, a P/E ratio of 21.60 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 2.59. The company has a fifty day simple moving average of $80.18 and a two-hundred day simple moving average of $90.65.

Skyline Champion (NYSE:SKY - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.10). The company had revenue of $593.87 million during the quarter, compared to analyst estimates of $595.42 million. Skyline Champion had a return on equity of 13.80% and a net margin of 6.80%. The firm's revenue was up .7% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. Equities analysts predict that Skyline Champion Co. will post 3.63 EPS for the current fiscal year.

Skyline Champion announced that its Board of Directors has authorized a stock repurchase program on Friday, May 30th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Skyline Champion Company Profile

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.