Skyline Champion (NYSE:SKY) Shares Gap Down After Earnings Miss

Skyline Champion Co. (NYSE:SKY - Get Free Report)'s share price gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $84.26, but opened at $74.95. Skyline Champion shares last traded at $73.33, with a volume of 245,674 shares changing hands.

The company reported $0.65 EPS 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 analysts' expectations 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 quarter in the previous year, the business earned $0.62 earnings per share.

Wall Street Analyst Weigh In

SKY has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their price objective on Skyline Champion from $96.00 to $82.00 and set a "sector perform" rating for the company in a research report on Wednesday. Barclays reduced their price target on shares of Skyline Champion from $97.00 to $72.00 and set an "equal weight" rating for the company in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $80.60.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Skyline Champion by 17.3% during the 4th quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company's stock worth $523,578,000 after acquiring an additional 876,712 shares during the period. Capital World Investors lifted its stake in shares of Skyline Champion by 31.5% in the 4th quarter. Capital World Investors now owns 2,638,862 shares of the company's stock worth $232,484,000 after acquiring an additional 632,718 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Skyline Champion by 67.1% in the first quarter. Alliancebernstein L.P. now owns 1,716,459 shares of the company's stock valued at $162,652,000 after acquiring an additional 689,265 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Skyline Champion by 17.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,646,482 shares of the company's stock worth $145,055,000 after purchasing an additional 241,326 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Skyline Champion by 2.9% in the fourth quarter. American Century Companies Inc. now owns 1,411,769 shares of the company's stock valued at $124,377,000 after purchasing an additional 39,262 shares during the period.

Skyline Champion Price Performance

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 50-day simple moving average of $86.70 and a 200-day simple moving average of $93.56. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 23.01 and a beta of 1.37.

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.