Skyline Champion (NYSE:SKY) Sets New 52-Week Low on Analyst Downgrade

Skyline Champion Co. (NYSE:SKY - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Thursday after Royal Bank of Canada lowered their price target on the stock from $96.00 to $82.00. Royal Bank of Canada currently has a sector perform rating on the stock. Skyline Champion traded as low as $64.63 and last traded at $65.16, with a volume of 256489 shares. The stock had previously closed at $65.62.

Separately, Barclays lowered 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 note on Wednesday, May 28th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $80.60.

Institutional Investors Weigh In On Skyline Champion

Several hedge funds have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd purchased a new position in Skyline Champion in the 4th quarter worth about $36,000. Sterling Capital Management LLC boosted its holdings in shares of Skyline Champion by 645.5% in the fourth quarter. Sterling Capital Management LLC now owns 917 shares of the company's stock worth $81,000 after buying an additional 794 shares during the period. AlphaQuest LLC increased its position in shares of Skyline Champion by 1,231.3% in the first quarter. AlphaQuest LLC now owns 852 shares of the company's stock worth $81,000 after acquiring an additional 788 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Skyline Champion by 306.0% during the first quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock valued at $96,000 after acquiring an additional 765 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Skyline Champion in the 4th quarter valued at approximately $108,000.

Skyline Champion Stock Down 2.7%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 2.59. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 22.40 and a beta of 1.37. The business's 50 day moving average is $85.41 and its 200 day moving average is $93.09.

Skyline Champion (NYSE:SKY - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $0.65 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $595.42 million. During the same period last year, the business earned $0.62 EPS. The business's quarterly revenue was up .7% on a year-over-year basis. Equities analysts expect that Skyline Champion Co. will post 3.63 earnings per share for the current year.

Skyline Champion announced that its Board of Directors has approved a share buyback program on Friday, May 30th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

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.