Skyline Champion (NYSE:SKY) Shares Gap Down – Should You Sell?

Skyline Champion Co. (NYSE:SKY)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $94.64, but opened at $92.14. Skyline Champion shares last traded at $92.57, with a volume of 7,356 shares trading hands.

Analyst Upgrades and Downgrades

SKY has been the topic of a number of recent analyst reports. Barclays lifted their price target on Skyline Champion from $68.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Jefferies Financial Group boosted their price target on Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday. Royal Bank of Canada boosted their price target on Skyline Champion from $68.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Wedbush restated a “neutral” rating and set a $64.00 price objective on shares of Skyline Champion in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $80.20.

Skyline Champion Stock Up 1.0 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.57 and a current ratio of 2.33. The company has a market cap of $5.41 billion, a P/E ratio of 38.49 and a beta of 1.57. The stock has a 50 day moving average price of $90.31 and a 200 day moving average price of $80.36.

Skyline Champion (NYSE:SKY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.69 by $0.22. The firm had revenue of $627.80 million for the quarter, compared to analysts’ expectations of $600.39 million. Skyline Champion had a net margin of 6.45% and a return on equity of 13.07%. Skyline Champion’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 earnings per share. Research analysts expect that Skyline Champion Co. will post 3.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael B. Berman sold 3,496 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $82.34, for a total transaction of $287,860.64. Following the completion of the sale, the director now owns 8,099 shares in the company, valued at approximately $666,871.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Timothy A. Burkhardt sold 2,874 shares of Skyline Champion stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $89.42, for a total value of $256,993.08. Following the transaction, the vice president now directly owns 38,792 shares of the company’s stock, valued at $3,468,780.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael B. Berman sold 3,496 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $82.34, for a total transaction of $287,860.64. Following the completion of the sale, the director now owns 8,099 shares of the company’s stock, valued at approximately $666,871.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 163,636 shares of company stock worth $14,582,253. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of Skyline Champion

Several large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of Skyline Champion by 46.0% during the second quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock valued at $45,385,000 after buying an additional 211,099 shares in the last quarter. Forge First Asset Management Inc. purchased a new position in Skyline Champion during the 1st quarter valued at about $9,398,000. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Skyline Champion by 15.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 808,487 shares of the company’s stock valued at $68,730,000 after purchasing an additional 105,330 shares during the period. Castleark Management LLC purchased a new stake in shares of Skyline Champion in the first quarter worth approximately $6,366,000. Finally, Congress Asset Management Co. MA boosted its holdings in shares of Skyline Champion by 14.6% during the fourth quarter. Congress Asset Management Co. MA now owns 497,594 shares of the company’s stock worth $36,951,000 after purchasing an additional 63,578 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.