Skyline Champion (NYSE:SKY) Reaches New 12-Month Low - What's Next?

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SKY shares. Zelman & Associates upgraded Skyline Champion from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 5th. Barclays lowered their target price on Skyline Champion from $97.00 to $72.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. Finally, Royal Bank of Canada lowered their target price on Skyline Champion from $96.00 to $82.00 and set a "sector perform" rating for the company in a research note on Wednesday, May 28th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Skyline Champion currently has an average rating of "Hold" and an average price target of $80.60.

Skyline Champion Price Performance

The stock has a market cap of $3.51 billion, a PE ratio of 21.60 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.59 and a quick ratio of 1.74. The business has a fifty day moving average of $80.18 and a 200 day moving average of $90.65.

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

Skyline Champion declared that its board has approved a share repurchase program on Friday, May 30th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new position in Skyline Champion during the 4th quarter worth approximately $36,000. AlphaQuest LLC lifted its holdings in Skyline Champion by 1,231.3% during the 1st quarter. AlphaQuest LLC now owns 852 shares of the company's stock worth $81,000 after buying an additional 788 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in Skyline Champion by 645.5% during the 4th 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 last quarter. GAMMA Investing LLC lifted its holdings in Skyline Champion by 306.0% during the 1st quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock worth $96,000 after buying an additional 765 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Skyline Champion during the 4th quarter worth approximately $108,000.

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.