Posted by admin on Jun 1st, 2022

Skyline Champion Co. (NYSE:SKY – Get Rating) – Equities research analysts at Wedbush decreased their Q4 2023 EPS estimates for Skyline Champion in a research note issued on Tuesday, May 31st. Wedbush analyst J. Mccanless now expects that the company will post earnings per share of $0.90 for the quarter, down from their prior estimate of $1.00. Wedbush also issued estimates for Skyline Champion’s Q1 2024 earnings at $1.07 EPS, Q2 2024 earnings at $0.92 EPS, Q3 2024 earnings at $0.92 EPS and Q4 2024 earnings at $1.08 EPS.

Skyline Champion (NYSE:SKY – Get Rating) last issued its earnings results on Monday, May 23rd. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.51. Skyline Champion had a return on equity of 35.01% and a net margin of 11.24%. The firm had revenue of $638.12 million for the quarter, compared to analysts’ expectations of $561.80 million. During the same quarter last year, the firm earned $0.61 earnings per share. The firm’s revenue for the quarter was up 42.5% compared to the same quarter last year.

A number of other brokerages have also recently commented on SKY. Craig Hallum reduced their price objective on Skyline Champion from $80.00 to $71.00 in a research note on Wednesday, May 25th. Barclays reduced their price objective on Skyline Champion from $84.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 25th. Zacks Investment Research upgraded Skyline Champion from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective on the stock in a research note on Saturday. Royal Bank of Canada reduced their price objective on Skyline Champion from $87.00 to $61.00 in a research note on Wednesday, May 25th. Finally, StockNews.com began coverage on Skyline Champion in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $65.60.

Shares of SKY opened at $53.13 on Wednesday. The stock’s 50-day moving average is $53.42 and its two-hundred day moving average is $65.94. The stock has a market cap of $3.02 billion, a PE ratio of 12.27 and a beta of 1.92. Skyline Champion has a 12 month low of $44.00 and a 12 month high of $85.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.23 and a quick ratio of 1.55.

A number of large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in Skyline Champion by 5.5% during the 3rd quarter. Wellington Management Group LLP now owns 6,815,595 shares of the company’s stock worth $409,345,000 after buying an additional 356,528 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Skyline Champion by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 5,490,446 shares of the company’s stock worth $301,316,000 after purchasing an additional 167,921 shares during the period. BlackRock Inc. raised its position in shares of Skyline Champion by 3.1% during the 4th quarter. BlackRock Inc. now owns 4,013,384 shares of the company’s stock worth $316,977,000 after purchasing an additional 120,875 shares during the period. FMR LLC raised its position in shares of Skyline Champion by 4.7% during the 1st quarter. FMR LLC now owns 2,323,264 shares of the company’s stock worth $44,142,000 after purchasing an additional 105,135 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Skyline Champion by 46.7% during the 1st quarter. American Century Companies Inc. now owns 1,829,025 shares of the company’s stock worth $100,377,000 after purchasing an additional 582,173 shares during the period. 98.48% of the stock is currently owned by institutional investors.

In other Skyline Champion news, VP Timothy A. Burkhardt sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $68.55, for a total transaction of $171,375.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Erin Mulligan Nelson sold 6,508 shares of the stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $52.83, for a total value of $343,817.64. Following the transaction, the director now directly owns 1,750 shares in the company, valued at approximately $92,452.50. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

About Skyline Champion (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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