Skyline Champion (NYSE:SKY) Issues Earnings Results, Misses Expectations By $0.10 EPS

Skyline Champion (NYSE:SKY - Get Free Report) released its earnings results on Tuesday. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.10), RTT News reports. Skyline Champion had a return on equity of 13.80% and a net margin of 6.80%. The company had revenue of $593.87 million during the quarter, compared to analysts' expectations of $595.42 million. During the same quarter in the previous year, the company earned $0.62 EPS. The firm's quarterly revenue was up .7% compared to the same quarter last year.

Skyline Champion Stock Performance

SKY traded down $0.34 during trading on Thursday, hitting $65.28. The stock had a trading volume of 1,562,218 shares, compared to its average volume of 564,701. The firm has a market cap of $3.74 billion, a PE ratio of 22.99 and a beta of 1.37. Skyline Champion has a 12 month low of $64.47 and a 12 month high of $116.49. The company has a current ratio of 2.59, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02. The company has a 50 day simple moving average of $86.70 and a 200-day simple moving average of $93.56.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SKY shares. Royal Bank of Canada cut their target price on shares of Skyline Champion from $96.00 to $82.00 and set a "sector perform" rating for the company in a research report on Wednesday. Barclays reduced their price objective on shares of Skyline Champion from $97.00 to $72.00 and set an "equal weight" rating for the company in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $80.60.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SKY. AQR Capital Management LLC bought a new position in shares of Skyline Champion during the 1st quarter worth about $294,000. Royal Bank of Canada increased its holdings in shares of Skyline Champion by 66.1% during the 1st quarter. Royal Bank of Canada now owns 10,804 shares of the company's stock worth $1,024,000 after purchasing an additional 4,301 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Skyline Champion by 712.0% during the 1st quarter. Millennium Management LLC now owns 70,029 shares of the company's stock worth $6,636,000 after purchasing an additional 61,405 shares during the period.

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.