Skyline Champion (NYSE:SKY) Shares Gap Up Following Strong Earnings

Shares of Skyline Champion Co. (NYSE:SKY) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $92.75, but opened at $98.41. Skyline Champion shares last traded at $101.20, with a volume of 14,784 shares.

The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.24. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%.

Analyst Ratings Changes

SKY has been the subject of several analyst reports. Jefferies Financial Group upped their price target on shares of Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Barclays boosted their price objective on Skyline Champion from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Craig Hallum raised their target price on shares of Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price objective on shares of Skyline Champion from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $85.40.

Institutional Trading of Skyline Champion

A number of large investors have recently made changes to their positions in the stock. Truvestments Capital LLC purchased a new stake in shares of Skyline Champion in the third quarter worth $32,000. Quarry LP purchased a new position in Skyline Champion in the 3rd quarter worth about $67,000. nVerses Capital LLC bought a new position in shares of Skyline Champion during the 3rd quarter worth $76,000. Venturi Wealth Management LLC bought a new stake in Skyline Champion during the 4th quarter valued at $112,000. Finally, KBC Group NV boosted its position in shares of Skyline Champion by 53.9% in the 4th quarter. KBC Group NV now owns 2,288 shares of the company’s stock worth $202,000 after purchasing an additional 801 shares in the last quarter.

Skyline Champion Price Performance

The stock’s 50 day simple moving average is $94.72 and its 200-day simple moving average is $92.24. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 40.64 and a beta of 1.62. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.64 and a current ratio of 2.42.

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.