Point72 Asset Management L.P. Invests $673,000 in Skyline Champion Co. (NYSE:SKY)

Point72 Asset Management L.P. purchased a new stake in Skyline Champion Co. (NYSE:SKY) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,100 shares of the company’s stock, valued at approximately $673,000.

Several other hedge funds have also added to or reduced their stakes in SKY. HighTower Advisors LLC raised its position in shares of Skyline Champion by 20.1% in the third quarter. HighTower Advisors LLC now owns 4,839 shares of the company’s stock valued at $458,000 after purchasing an additional 811 shares during the period. Centiva Capital LP acquired a new position in Skyline Champion in the 3rd quarter valued at about $896,000. Atom Investors LP raised its holdings in Skyline Champion by 307.2% in the 3rd quarter. Atom Investors LP now owns 71,224 shares of the company’s stock valued at $6,756,000 after acquiring an additional 53,733 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Skyline Champion during the third quarter worth approximately $232,000. Finally, Edgestream Partners L.P. boosted its holdings in shares of Skyline Champion by 163.3% during the third quarter. Edgestream Partners L.P. now owns 19,279 shares of the company’s stock worth $1,829,000 after acquiring an additional 11,956 shares during the period.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SKY shares. Craig Hallum lifted their price target on Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays lifted their target price on Skyline Champion from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Royal Bank of Canada raised their price target on shares of Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their price objective 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. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $85.40.

Skyline Champion Trading Up 1.4 %

Shares of Skyline Champion stock opened at $108.91 on Thursday. 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 12-month low of $64.40 and a 12-month high of $116.49. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of 42.05 and a beta of 1.59. The firm’s 50-day moving average price is $97.18 and its two-hundred day moving average price is $86.15.

Skyline Champion (NYSE:SKY) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.32. The business had revenue of $616.88 million for the quarter, compared to analysts’ expectations of $600.52 million. Skyline Champion had a net margin of 6.42% and a return on equity of 13.20%. The firm’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share. On average, analysts forecast that Skyline Champion Co. will post 3.43 earnings per share for the current fiscal year.

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.