Skyline Champion (NYSE:SKY) Rating Increased to Neutral at Zelman & Associates

Skyline Champion (NYSE:SKY - Get Free Report) was upgraded by analysts at Zelman & Associates from an "underperform" rating to a "neutral" rating in a research report issued on Thursday,Benzinga reports.

A number of other research analysts have also recently commented on SKY. Barclays reduced their price target 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, May 28th. Royal Bank of Canada reduced their price target on shares of Skyline Champion from $96.00 to $82.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 28th. Six 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, Skyline Champion presently has a consensus rating of "Hold" and an average target price of $80.60.

Skyline Champion Price Performance

Shares of SKY stock traded down $0.29 during trading on Thursday, hitting $65.35. The company had a trading volume of 681,886 shares, compared to its average volume of 582,270. The company has a quick ratio of 1.74, a current ratio of 2.59 and a debt-to-equity ratio of 0.02. The stock's 50-day moving average is $82.94 and its two-hundred day moving average is $92.25. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 23.01 and a beta of 1.19. Skyline Champion has a 52 week low of $63.13 and a 52 week high of $116.49.

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). 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 the consensus estimate of $595.42 million. During the same quarter last year, the company posted $0.62 earnings per share. The firm's revenue for the quarter was up .7% on a year-over-year basis. As a group, analysts predict that Skyline Champion will post 3.63 EPS for the current fiscal year.

Skyline Champion announced that its board has authorized a share repurchase plan on Friday, May 30th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Institutional Trading of Skyline Champion

A number of institutional investors have recently made changes to their positions in the stock. Kovitz Investment Group Partners LLC boosted its stake in shares of Skyline Champion by 2.7% during the first quarter. Kovitz Investment Group Partners LLC now owns 5,514 shares of the company's stock valued at $523,000 after purchasing an additional 145 shares during the period. Envestnet Portfolio Solutions Inc. boosted 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 purchasing an additional 172 shares during the period. Summit Investment Advisors Inc. lifted its stake in Skyline Champion by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,613 shares of the company's stock worth $495,000 after acquiring an additional 178 shares during the period. HighTower Advisors LLC lifted its stake in 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 acquiring an additional 180 shares during the period. Finally, Xponance Inc. lifted its stake in Skyline Champion by 5.0% in the first quarter. Xponance Inc. now owns 4,048 shares of the company's stock worth $384,000 after acquiring an additional 193 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.