Skyline Champion (NYSE:SKY) Sets New 12-Month Low - Here's Why

Skyline Champion Co. (NYSE:SKY - Get Free Report)'s stock price reached a new 52-week low on Friday . The stock traded as low as $62.76 and last traded at $63.01, with a volume of 143085 shares. The stock had previously closed at $64.77.

Wall Street Analyst Weigh In

A number of research analysts have commented on SKY shares. Barclays decreased their price objective on Skyline Champion from $97.00 to $72.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 28th. Royal Bank of Canada reduced 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, May 28th. Finally, Zelman & Associates raised shares of Skyline Champion from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $80.60.

Skyline Champion Trading Up 1.5%

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 company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 21.94 and a beta of 1.19. The firm has a fifty day moving average price of $80.18 and a 200-day moving average price of $90.56.

Skyline Champion (NYSE:SKY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.10). The firm had revenue of $593.87 million for the quarter, compared to the consensus estimate of $595.42 million. Skyline Champion had a return on equity of 13.80% and a net margin of 6.80%. The company's revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 EPS. As a group, equities analysts anticipate that Skyline Champion Co. will post 3.63 EPS for the current year.

Skyline Champion declared that its Board of Directors has initiated a share repurchase plan on Friday, May 30th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC grew its holdings in Skyline Champion by 2.7% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 5,514 shares of the company's stock worth $523,000 after acquiring an additional 145 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Skyline Champion by 5.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,336 shares of the company's stock valued at $316,000 after acquiring an additional 172 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Skyline Champion by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,613 shares of the company's stock worth $495,000 after purchasing an additional 178 shares during the period. HighTower Advisors LLC grew its stake in shares of Skyline Champion by 3.7% in the fourth quarter. HighTower Advisors LLC now owns 5,019 shares of the company's stock worth $442,000 after purchasing an additional 180 shares during the last quarter. Finally, Xponance Inc. increased its holdings in Skyline Champion by 5.0% in the first quarter. Xponance Inc. now owns 4,048 shares of the company's stock valued at $384,000 after purchasing an additional 193 shares during the period.

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.