Royal Bank of Canada Cuts Skyline Champion (NYSE:SKY) Price Target to $68.00

Skyline Champion (NYSE:SKY) had its price objective trimmed by Royal Bank of Canada from $73.00 to $68.00 in a research note released on Thursday, Benzinga reports. The firm currently has a sector perform rating on the stock.

Separately, Wedbush reiterated a neutral rating and set a $72.00 target price on shares of Skyline Champion in a research report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $71.00.

Skyline Champion Price Performance

SKY stock opened at $71.68 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.71 and a current ratio of 2.56. The company’s fifty day moving average price is $79.04 and its 200-day moving average price is $74.37. Skyline Champion has a one year low of $52.12 and a one year high of $86.71. The company has a market capitalization of $4.14 billion, a PE ratio of 28.22 and a beta of 1.54.

Skyline Champion (NYSE:SKY) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). The company had revenue of $536.36 million during the quarter, compared to analysts’ expectations of $560.90 million. Skyline Champion had a return on equity of 13.50% and a net margin of 7.24%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 EPS. On average, equities analysts anticipate that Skyline Champion will post 2.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Skyline Champion

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SKY. Wellington Management Group LLP boosted its holdings in shares of Skyline Champion by 0.8% in the 4th quarter. Wellington Management Group LLP now owns 8,047,679 shares of the company’s stock worth $597,621,000 after purchasing an additional 62,748 shares during the period. Dimensional Fund Advisors LP increased its position in Skyline Champion by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,310,969 shares of the company’s stock valued at $97,356,000 after acquiring an additional 81,823 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Skyline Champion by 19.1% in the third quarter. William Blair Investment Management LLC now owns 1,112,034 shares of the company’s stock valued at $70,859,000 after acquiring an additional 178,099 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Skyline Champion by 0.7% in the third quarter. Ameriprise Financial Inc. now owns 1,058,324 shares of the company’s stock valued at $67,432,000 after acquiring an additional 7,855 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted 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 worth $68,730,000 after acquiring an additional 105,330 shares during the last quarter.

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.