ClariVest Asset Management LLC bought a new position in shares of Skyline Champion Co. (NYSE:SKY – Get Rating) during the first quarter, Holdings Channel reports. The firm bought 87,668 shares of the company’s stock, valued at approximately $4,812,000.
A number of other hedge funds also recently made changes to their positions in the business. Redwood Investments LLC bought a new stake in Skyline Champion in the 1st quarter valued at about $12,163,000. Assenagon Asset Management S.A. bought a new stake in Skyline Champion in the 4th quarter valued at about $14,633,000. Invesco Ltd. raised its stake in Skyline Champion by 66.8% in the 4th quarter. Invesco Ltd. now owns 387,420 shares of the company’s stock valued at $30,598,000 after acquiring an additional 155,127 shares during the period. SG Capital Management LLC raised its stake in Skyline Champion by 50.2% in the 1st quarter. SG Capital Management LLC now owns 317,310 shares of the company’s stock valued at $17,414,000 after acquiring an additional 106,015 shares during the period. Finally, Bank of America Corp DE raised its stake in Skyline Champion by 48.1% in the 4th quarter. Bank of America Corp DE now owns 311,561 shares of the company’s stock valued at $24,608,000 after acquiring an additional 101,179 shares during the period. 98.48% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the company. Barclays reduced their target price on Skyline Champion from $71.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Royal Bank of Canada reduced their target price on Skyline Champion from $87.00 to $61.00 in a report on Wednesday, May 25th. Craig Hallum reduced their target price on Skyline Champion from $80.00 to $71.00 in a report on Wednesday, May 25th. StockNews.com assumed coverage on Skyline Champion in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Wedbush raised Skyline Champion from a “neutral” rating to an “outperform” rating and set a $70.00 target price for the company in a report on Thursday, July 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Skyline Champion presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.
Insider Buying and Selling
Skyline Champion Stock Up 2.7 %
Shares of NYSE SKY opened at $60.49 on Thursday. Skyline Champion Co. has a 12 month low of $43.04 and a 12 month high of $85.92. The company has a current ratio of 2.23, a quick ratio of 1.55 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 13.97 and a beta of 1.92. The business has a 50-day moving average of $52.26 and a 200-day moving average of $58.64.
Skyline Champion (NYSE:SKY – Get Rating) last issued its quarterly earnings data on Monday, May 23rd. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $0.99 by $0.52. The company 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 35.01% and a net margin of 11.24%. Skyline Champion’s revenue was up 42.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 earnings per share. Sell-side analysts expect that Skyline Champion Co. will post 5.1 earnings per share for the current fiscal year.
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.
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