Skyline Champion (NYSE:SKY) Upgraded by Zelman & Associates to Hold Rating

Skyline Champion (NYSE:SKY - Get Free Report) was upgraded by Zelman & Associates from a "strong sell" rating to a "hold" rating in a report issued on Thursday, Marketbeat.com reports.

Several other equities analysts also recently commented on SKY. Barclays dropped their price objective on 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. Royal Bank of Canada dropped their price objective on Skyline Champion from $96.00 to $82.00 and set a "sector perform" rating on the stock in a research note on Wednesday, May 28th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Skyline Champion has a consensus rating of "Hold" and a consensus price target of $80.60.

Skyline Champion Stock Performance

Skyline Champion stock traded down $0.94 during trading on Thursday, hitting $64.44. The stock had a trading volume of 512,895 shares, compared to its average volume of 583,786. Skyline Champion has a 1 year low of $63.13 and a 1 year high of $116.49. 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 $82.38 and its two-hundred day moving average is $91.91. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 22.69 and a beta of 1.19.

Skyline Champion (NYSE:SKY - Get Free Report) last posted its quarterly earnings data 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 net margin of 6.80% and a return on equity of 13.80%. The firm 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 posted $0.62 EPS. Skyline Champion'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 year.

Skyline Champion announced that its board has initiated a stock repurchase program on Friday, May 30th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Skyline Champion

A number of institutional investors and hedge funds have recently made changes to their positions in SKY. Jennison Associates LLC purchased a new stake in shares of Skyline Champion in the fourth quarter worth $659,000. Guidance Capital Inc. purchased a new stake in shares of Skyline Champion in the fourth quarter worth $459,000. Yousif Capital Management LLC purchased a new stake in shares of Skyline Champion in the fourth quarter worth $1,770,000. Meritage Portfolio Management raised its position in shares of Skyline Champion by 8.1% in the fourth quarter. Meritage Portfolio Management now owns 5,698 shares of the company's stock worth $502,000 after buying an additional 428 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Skyline Champion in the fourth quarter worth $2,651,000.

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.