Geode Capital Management LLC Sells 7,455 Shares of Skyline Champion Co. (NYSE:SKY)

Geode Capital Management LLC cut its holdings in Skyline Champion Co. (NYSE:SKY) by 0.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,216,004 shares of the company’s stock after selling 7,455 shares during the period. Geode Capital Management LLC’s holdings in Skyline Champion were worth $115,360,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SKY. FMR LLC raised its holdings in shares of Skyline Champion by 32.3% during 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 during the period. Assenagon Asset Management S.A. bought a new stake in Skyline Champion in the third quarter worth about $27,769,000. Victory Capital Management Inc. grew its stake in shares of Skyline Champion by 46.0% during the 2nd quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock worth $45,385,000 after acquiring an additional 211,099 shares during the period. Cerity Partners LLC raised its holdings in Skyline Champion by 118.8% during the 3rd quarter. Cerity Partners LLC now owns 188,767 shares of the company’s stock valued at $17,905,000 after acquiring an additional 102,506 shares during the period. Finally, State Street Corp lifted its holdings in shares of Skyline Champion by 4.6% in the third quarter. State Street Corp now owns 1,790,962 shares of the company’s stock worth $169,873,000 after buying an additional 78,733 shares in the last quarter.

Skyline Champion Price Performance

SKY opened at $101.03 on Wednesday. Skyline Champion Co. has a 12-month low of $64.82 and a 12-month high of $116.49. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 39.01 and a beta of 1.59. The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.02. The stock has a fifty day simple moving average of $98.00 and a two-hundred day simple moving average of $87.23.

Skyline Champion (NYSE:SKY) last issued its earnings results on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.32. The business 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%. Skyline Champion’s revenue was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 EPS. Research analysts predict that Skyline Champion Co. will post 3.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on SKY. Royal Bank of Canada raised their price target on Skyline Champion from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Craig Hallum raised their price objective on Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their target price on shares of Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Barclays increased their price objective on Skyline Champion from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $85.40.

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.