Royal Bank of Canada Has Lowered Expectations for Skyline Champion (NYSE:SKY) Stock Price

Skyline Champion (NYSE:SKY - Free Report) had its price target trimmed by Royal Bank of Canada from $96.00 to $82.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Separately, Barclays dropped their price objective on shares of Skyline Champion from $97.00 to $72.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $80.60.

Skyline Champion Stock Performance

NYSE:SKY traded down $0.19 on Wednesday, hitting $65.36. The company's stock had a trading volume of 1,554,128 shares, compared to its average volume of 569,739. Skyline Champion has a one year low of $64.45 and a one year high of $116.49. The firm has a market capitalization of $3.74 billion, a P/E ratio of 23.01 and a beta of 1.37. The stock has a fifty day moving average of $86.06 and a two-hundred day moving average of $93.34. 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 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.10). Skyline Champion had a return on equity of 13.80% and a net margin of 6.80%. The business had revenue of $593.87 million for the quarter, compared to analyst estimates of $595.42 million. During the same period in the previous year, the firm posted $0.62 earnings per share. The firm's revenue was up .7% compared to the same quarter last year. Research analysts predict that Skyline Champion will post 3.63 earnings per share for the current year.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Skyline Champion by 17.3% during the 4th quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company's stock worth $523,578,000 after purchasing an additional 876,712 shares in the last quarter. Capital World Investors increased its holdings in shares of Skyline Champion by 31.5% during the fourth quarter. Capital World Investors now owns 2,638,862 shares of the company's stock worth $232,484,000 after buying an additional 632,718 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Skyline Champion by 67.1% in the 1st quarter. Alliancebernstein L.P. now owns 1,716,459 shares of the company's stock valued at $162,652,000 after acquiring an additional 689,265 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Skyline Champion by 17.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,646,482 shares of the company's stock valued at $145,055,000 after acquiring an additional 241,326 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Skyline Champion by 2.9% during the 4th quarter. American Century Companies Inc. now owns 1,411,769 shares of the company's stock valued at $124,377,000 after acquiring an additional 39,262 shares in the last quarter.

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.