Citigroup Inc. Raises Stock Holdings in Skyline Champion Co. (NYSE:SKY)

Citigroup Inc. grew its position in shares of Skyline Champion Co. (NYSE:SKY) by 63.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 79,668 shares of the company’s stock after acquiring an additional 30,892 shares during the quarter. Citigroup Inc.’s holdings in Skyline Champion were worth $7,557,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board grew its stake in shares of Skyline Champion by 38.6% in the second quarter. Canada Pension Plan Investment Board now owns 42,700 shares of the company’s stock worth $2,893,000 after purchasing an additional 11,900 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Skyline Champion by 4.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 844,367 shares of the company’s stock valued at $57,206,000 after buying an additional 35,880 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Skyline Champion by 122.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 12,074 shares of the company’s stock worth $1,029,000 after buying an additional 6,639 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Skyline Champion by 35.4% during the 1st quarter. Janus Henderson Group PLC now owns 42,484 shares of the company’s stock worth $3,614,000 after acquiring an additional 11,096 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Skyline Champion by 46.0% in the 2nd quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock valued at $45,385,000 after purchasing an additional 211,099 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Craig Hallum raised their price target on shares of Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wedbush reaffirmed a “neutral” rating and set a $64.00 price target on shares of Skyline Champion in a report on Wednesday, August 7th. Jefferies Financial Group lifted their price objective on Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada upped their price objective on Skyline Champion from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Finally, Barclays increased their price target on shares of Skyline Champion from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $85.40.

Skyline Champion Stock Performance

SKY stock opened at $103.73 on Friday. The company has a market capitalization of $5.95 billion, a PE ratio of 40.05 and a beta of 1.59. The firm’s 50-day moving average is $95.27 and its 200 day moving average is $84.53. Skyline Champion Co. has a 12 month low of $59.78 and a 12 month high of $107.26. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.42 and a quick ratio of 1.64.

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, topping the consensus estimate of $0.61 by $0.32. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The business had revenue of $616.88 million during the quarter, compared to the consensus estimate of $600.52 million. During the same quarter last year, the company earned $0.82 earnings per share. The company’s quarterly revenue was up 32.9% on a year-over-year basis. On average, research analysts anticipate that Skyline Champion Co. will post 3.43 EPS for the current year.

Insider Activity

In related news, Director Mak Capital One Llc sold 40,000 shares of the business’s 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 transaction, the director now directly owns 2,716,500 shares in the company, valued at $241,415,355. The trade was a 1.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 6.90% of the company’s stock.

Skyline Champion 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.