Skyline Champion (NYSE:SKY) Hits New 52-Week High – Time to Buy?

Skyline Champion Co. (NYSE:SKY)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $102.10 and last traded at $102.09, with a volume of 98282 shares changing hands. The stock had previously closed at $98.14.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Craig Hallum increased their target price on Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Wedbush reissued a “neutral” rating and issued a $64.00 price objective on shares of Skyline Champion in a report on Wednesday, August 7th. Barclays lifted their target price on Skyline Champion from $85.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $85.40.

Skyline Champion Stock Up 1.9 %

The company has a quick ratio of 1.64, a current ratio of 2.42 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 39.38 and a beta of 1.59. The business has a 50-day moving average price of $94.27 and a 200-day moving average price of $83.66.

Skyline Champion (NYSE:SKY) last released its earnings results on Monday, October 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.32. The company had revenue of $616.88 million during the quarter, compared to analyst estimates of $600.52 million. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The company’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 earnings per share. As a group, equities analysts anticipate that Skyline Champion Co. will post 3.43 earnings per share for the current fiscal year.

Insider Transactions at Skyline Champion

In other news, Director Mak Capital One Llc sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $90.16, for a total value of $7,212,800.00. Following the sale, the director now directly owns 2,920,000 shares of the company’s stock, valued at approximately $263,267,200. This trade represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.90% of the stock is currently owned by company insiders.

Institutional Trading of Skyline Champion

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Skyline Champion by 32.3% in the third quarter. FMR LLC now owns 1,491,907 shares of the company’s stock valued at $141,507,000 after purchasing an additional 363,885 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Skyline Champion during the 3rd quarter valued at about $27,769,000. Victory Capital Management Inc. increased its stake in Skyline Champion by 46.0% in the second quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock valued at $45,385,000 after acquiring an additional 211,099 shares during the period. Cerity Partners LLC lifted its stake in Skyline Champion by 118.8% during the third quarter. Cerity Partners LLC now owns 188,767 shares of the company’s stock worth $17,905,000 after purchasing an additional 102,506 shares during the period. Finally, State Street Corp lifted its stake in Skyline Champion by 4.6% during the third quarter. State Street Corp now owns 1,790,962 shares of the company’s stock worth $169,873,000 after purchasing an additional 78,733 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.