Commerce Bank Sells 249 Shares of Skyline Champion Co. (NYSE:SKY)

Commerce Bank trimmed its stake in shares of Skyline Champion Co. (NYSE:SKY) by 2.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 8,753 shares of the company’s stock after selling 249 shares during the quarter. Commerce Bank’s holdings in Skyline Champion were worth $830,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new position in Skyline Champion during the third quarter valued at approximately $27,769,000. Victory Capital Management Inc. raised its holdings in shares of Skyline Champion by 46.0% during the 2nd quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock worth $45,385,000 after buying an additional 211,099 shares in the last quarter. Castleark Management LLC bought a new stake in shares of Skyline Champion during the 1st quarter worth $6,366,000. Harbor Capital Advisors Inc. grew its position in Skyline Champion by 298.1% in the third quarter. Harbor Capital Advisors Inc. now owns 94,373 shares of the company’s stock valued at $8,951,000 after acquiring an additional 70,666 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Skyline Champion by 2.1% during the second quarter. Thrivent Financial for Lutherans now owns 2,642,123 shares of the company’s stock worth $179,004,000 after acquiring an additional 53,965 shares in the last quarter.

Skyline Champion Stock Performance

NYSE SKY opened at $104.25 on Tuesday. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 40.25 and a beta of 1.59. The company has a quick ratio of 1.64, a current ratio of 2.42 and a debt-to-equity ratio of 0.02. Skyline Champion Co. has a twelve month low of $58.85 and a twelve month high of $107.26. The stock has a fifty day simple moving average of $94.48 and a 200 day simple moving average of $83.89.

Skyline Champion (NYSE:SKY) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.32. The company had revenue of $616.88 million during the quarter, compared to analysts’ expectations of $600.52 million. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The business’s quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Sell-side analysts expect that Skyline Champion Co. will post 3.43 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada upped their price target on shares of Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Wedbush reissued a “neutral” rating and set a $64.00 price objective on shares of Skyline Champion in a report on Wednesday, August 7th. StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Craig Hallum lifted their price target on Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Skyline Champion has a consensus rating of “Hold” and a consensus price target of $85.40.

Insiders Place Their Bets

In other news, Director Mak Capital One Llc sold 40,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $88.87, for a total transaction of $3,554,800.00. Following the completion of the sale, the director now directly owns 2,716,500 shares in the company, valued at $241,415,355. This represents a 1.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 6.90% of the company’s stock.

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.