Peregrine Capital Management LLC Has $9.70 Million Stock Position in Skyline Champion Co. (NYSE:SKY)

Peregrine Capital Management LLC cut its position in shares of Skyline Champion Co. (NYSE:SKY - Free Report) by 14.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 130,658 shares of the company's stock after selling 22,347 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.23% of Skyline Champion worth $9,703,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Comerica Bank purchased a new stake in shares of Skyline Champion during the third quarter worth about $62,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Skyline Champion during the third quarter worth about $94,000. Covestor Ltd boosted its position in shares of Skyline Champion by 8,505.3% in the first quarter. Covestor Ltd now owns 1,635 shares of the company's stock worth $90,000 after acquiring an additional 1,616 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Skyline Champion in the first quarter worth approximately $206,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Skyline Champion in the first quarter worth approximately $216,000.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Skyline Champion from $61.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 13th. Wedbush reaffirmed a "neutral" rating and set a $72.00 price target on shares of Skyline Champion in a research report on Tuesday, February 6th. Finally, Royal Bank of Canada lifted their price target 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $71.40.

Skyline Champion Stock Performance

Shares of NYSE:SKY traded down $5.39 on Wednesday, reaching $78.27. 370,838 shares of the company's stock were exchanged, compared to its average volume of 291,093. Skyline Champion Co. has a fifty-two week low of $52.12 and a fifty-two week high of $86.71. The business's 50-day moving average is $81.26 and its two-hundred day moving average is $70.46. The company has a quick ratio of 1.71, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 22.43 and a beta of 1.53.

Skyline Champion (NYSE:SKY - Get Free Report) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.70 by $0.12. The business had revenue of $559.46 million during the quarter, compared to analyst estimates of $505.20 million. Skyline Champion had a net margin of 10.19% and a return on equity of 15.45%. As a group, equities research analysts forecast that Skyline Champion Co. will post 3.19 EPS for the current year.

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.