Skyline Champion (NYSE:SKY) Shares Gap Down After Earnings Miss

Skyline Champion Co. (NYSE:SKY - Get Free Report) gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $77.68, but opened at $72.00. Skyline Champion shares last traded at $73.04, with a volume of 71,593 shares.

The company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.05). The firm had revenue of $536.36 million during the quarter, compared to the consensus estimate of $560.90 million. Skyline Champion had a return on equity of 15.45% and a net margin of 10.19%. The business's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 EPS.

Analysts Set New Price Targets

SKY has been the subject of a number of recent research reports. Royal Bank of Canada boosted their target price on Skyline Champion from $69.00 to $73.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 7th. Wedbush reiterated a "neutral" rating and issued a $72.00 price objective on shares of Skyline Champion in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $71.40.

Hedge Funds Weigh In On Skyline Champion

Hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC bought a new position in shares of Skyline Champion during the first quarter valued at approximately $63,000. DekaBank Deutsche Girozentrale purchased a new stake in Skyline Champion in the third quarter worth $94,000. Kessler Investment Group LLC purchased a new stake in Skyline Champion in the fourth quarter worth $123,000. Vestmark Advisory Solutions Inc. purchased a new stake in Skyline Champion in the fourth quarter worth $219,000. Finally, Outlook Wealth Advisors LLC purchased a new stake in Skyline Champion in the fourth quarter worth $231,000.

Skyline Champion Stock Performance

The company has a market capitalization of $4.16 billion, a PE ratio of 21.18 and a beta of 1.54. The company has a 50 day moving average of $79.67 and a two-hundred day moving average of $74.05. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 1.71.

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.