Posted by admin on May 24th, 2022
Skyline Champion (NYSE:SKY – Get Rating) released its quarterly earnings results on Monday. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.51, Briefing.com reports. The business had revenue of $638.12 million during the quarter, compared to analyst estimates of $561.80 million. Skyline Champion had a return on equity of 30.44% and a net margin of 9.68%. Skyline Champion’s revenue for the quarter was up 42.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 earnings per share.
Shares of SKY opened at $53.63 on Tuesday. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 15.73 and a beta of 1.92. Skyline Champion has a twelve month low of $41.87 and a twelve month high of $85.92. The company has a quick ratio of 1.59, a current ratio of 2.24 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $55.66 and a two-hundred day moving average of $66.89.
In other news, VP Timothy A. Burkhardt sold 2,500 shares of the stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $68.55, for a total transaction of $171,375.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN increased its position in shares of Skyline Champion by 65.9% in the 2nd quarter. Wells Fargo & Company MN now owns 37,540 shares of the company’s stock valued at $2,001,000 after acquiring an additional 14,916 shares during the period. Morgan Stanley raised its stake in shares of Skyline Champion by 153.6% in the second quarter. Morgan Stanley now owns 118,642 shares of the company’s stock worth $6,324,000 after purchasing an additional 71,868 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Skyline Champion by 3.2% during the third quarter. Royal Bank of Canada now owns 13,625 shares of the company’s stock worth $818,000 after purchasing an additional 420 shares during the period. UBS Group AG boosted its position in Skyline Champion by 56.3% in the third quarter. UBS Group AG now owns 36,849 shares of the company’s stock valued at $2,213,000 after buying an additional 13,266 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Skyline Champion by 3.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 275,403 shares of the company’s stock worth $16,541,000 after buying an additional 8,811 shares during the period. 98.48% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on SKY. Royal Bank of Canada raised shares of Skyline Champion from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $81.00 to $87.00 in a report on Friday, February 4th. Barclays cut their target price on Skyline Champion from $100.00 to $84.00 in a research note on Thursday, March 31st. Craig Hallum decreased their price target on shares of Skyline Champion from $111.00 to $80.00 in a research note on Monday, April 18th. Zacks Investment Research cut shares of Skyline Champion from a “buy” rating to a “hold” rating in a research report on Thursday, April 7th. Finally, StockNews.com started coverage on shares of Skyline Champion in a report on Thursday, March 31st. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Skyline Champion currently has a consensus rating of “Buy” and an average price target of $80.20.
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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