Skyline Champion (NYSE:SKY) Issues Quarterly Earnings Results, Beats Expectations By $0.51 EPS

Skyline Champion (NYSE:SKYGet Rating) posted its quarterly earnings data on Monday. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.51, Briefing.com reports. Skyline Champion had a net margin of 9.68% and a return on equity of 30.44%. The company had revenue of $638.12 million during the quarter, compared to analysts’ expectations of $561.80 million. During the same period in the prior year, the company posted $0.61 EPS. The firm’s revenue for the quarter was up 42.5% on a year-over-year basis.

Shares of NYSE SKY opened at $45.10 on Wednesday. The company has a current ratio of 2.24, a quick ratio of 1.59 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 13.23 and a beta of 1.92. Skyline Champion has a twelve month low of $42.68 and a twelve month high of $85.92. The business has a 50 day simple moving average of $55.19 and a 200-day simple moving average of $66.74.

A number of research analysts recently commented on the company. Royal Bank of Canada raised Skyline Champion from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $81.00 to $87.00 in a report on Friday, February 4th. StockNews.com initiated coverage on Skyline Champion in a research note on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research downgraded shares of Skyline Champion from a “buy” rating to a “hold” rating in a research report on Thursday, April 7th. Barclays cut their price target on shares of Skyline Champion from $100.00 to $84.00 in a report on Thursday, March 31st. Finally, Craig Hallum decreased their price objective on shares of Skyline Champion from $111.00 to $80.00 in a report on Monday, April 18th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $80.20.

In other news, VP Timothy A. Burkhardt sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $68.55, for a total value of $171,375.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 6.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in SKY. Point72 Hong Kong Ltd bought a new position in Skyline Champion in the 1st quarter valued at about $160,000. Quantamental Technologies LLC acquired a new stake in shares of Skyline Champion during the 1st quarter valued at $471,000. Dynamic Technology Lab Private Ltd increased its holdings in Skyline Champion by 81.5% in the first quarter. Dynamic Technology Lab Private Ltd now owns 17,530 shares of the company’s stock worth $962,000 after buying an additional 7,870 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Skyline Champion by 6.1% in the first quarter. Wellington Management Group LLP now owns 5,864,485 shares of the company’s stock worth $321,842,000 after purchasing an additional 335,974 shares in the last quarter. Finally, State Street Corp grew its holdings in Skyline Champion by 8.6% during the first quarter. State Street Corp now owns 1,466,505 shares of the company’s stock valued at $80,482,000 after purchasing an additional 116,078 shares during the last quarter. 98.48% of the stock is owned by institutional investors.

Skyline Champion Company Profile (Get Rating)

Skyline Champion Corporation operates as a factory-built housing company in North America. The company offers manufactured and modular homes, park models RVs, accessory dwelling units, and modular buildings for the multi-family, hospitality, and senior and workforce housing sectors. It builds homes under the brand names of Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes in the United Statesp; and Moduline and SRI Homes in western Canada.

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Earnings History for Skyline Champion (NYSE:SKY)

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