Wedbush Reaffirms Neutral Rating for Skyline Champion (NYSE:SKY)

Wedbush reissued their neutral rating on shares of Skyline Champion (NYSE:SKY - Free Report) in a research note released on Wednesday, Benzinga reports. Wedbush currently has a $72.00 price target on the stock.

Separately, Royal Bank of Canada lifted their target price on shares of Skyline Champion from $69.00 to $73.00 and gave the company a sector perform rating in a research report on Wednesday, February 7th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $71.40.

Skyline Champion Stock Performance

SKY stock traded down $5.71 during midday trading on Wednesday, hitting $71.97. 961,553 shares of the stock traded hands, compared to its average volume of 280,039. The firm has a market cap of $4.16 billion, a P/E ratio of 20.62 and a beta of 1.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 1.71. The stock's fifty day simple moving average is $79.40 and its 200-day simple moving average is $74.03. Skyline Champion has a 1-year low of $52.12 and a 1-year high of $86.71.

Skyline Champion (NYSE:SKY - Get Free Report) last released its quarterly earnings results on Tuesday, May 21st. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). The firm had revenue of $536.36 million for the quarter, compared to analyst estimates of $560.90 million. Skyline Champion had a net margin of 10.19% and a return on equity of 15.45%. The firm's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 EPS. On average, analysts expect that Skyline Champion will post 3.19 earnings per share for the current year.

Institutional Trading of Skyline Champion

Institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC boosted its position in Skyline Champion by 11.7% during the third quarter. Commonwealth Equity Services LLC now owns 3,931 shares of the company's stock worth $250,000 after acquiring an additional 413 shares during the last quarter. Principal Financial Group Inc. boosted its position in Skyline Champion by 28.0% during the third quarter. Principal Financial Group Inc. now owns 13,101 shares of the company's stock worth $835,000 after acquiring an additional 2,866 shares during the last quarter. Arizona State Retirement System boosted its position in Skyline Champion by 1.5% during the third quarter. Arizona State Retirement System now owns 15,454 shares of the company's stock worth $985,000 after acquiring an additional 232 shares during the last quarter. Jump Financial LLC acquired a new position in Skyline Champion during the third quarter worth about $534,000. Finally, Kestra Private Wealth Services LLC boosted its holdings in Skyline Champion by 4.9% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 4,365 shares of the company's stock valued at $278,000 after purchasing an additional 205 shares during the last quarter.

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.