Skyline Champion Co. (NYSE:SKY) was the target of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 965,600 shares, a decline of 20.2% from the December 31st total of 1,210,000 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average daily volume of 508,100 shares, the short-interest ratio is currently 1.9 days.
SKY has been the topic of a number of recent research reports. Royal Bank of Canada boosted their price objective on Skyline Champion from $62.00 to $78.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 4th. Craig Hallum boosted their price objective on Skyline Champion from $83.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, November 4th. Barclays boosted their price objective on Skyline Champion from $86.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 15th. Finally, Zacks Investment Research cut Skyline Champion from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $85.60.
In other Skyline Champion news, EVP Jonathan Wade Lyall sold 21,200 shares of the business’s stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $72.90, for a total transaction of $1,545,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph A. Kimmell sold 8,031 shares of the business’s stock in a transaction dated Tuesday, November 9th. The shares were sold at an average price of $76.59, for a total value of $615,094.29. The disclosure for this sale can be found here. 6.90% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in Skyline Champion by 5.5% during the third quarter. Wellington Management Group LLP now owns 6,815,595 shares of the company’s stock valued at $409,345,000 after buying an additional 356,528 shares in the last quarter. Wasatch Advisors Inc. raised its stake in Skyline Champion by 1.0% during the second quarter. Wasatch Advisors Inc. now owns 3,073,301 shares of the company’s stock valued at $163,807,000 after buying an additional 30,556 shares in the last quarter. FMR LLC raised its stake in Skyline Champion by 4.7% during the first quarter. FMR LLC now owns 2,323,264 shares of the company’s stock valued at $44,142,000 after buying an additional 105,135 shares in the last quarter. State Street Corp raised its stake in Skyline Champion by 7.0% during the second quarter. State Street Corp now owns 1,322,013 shares of the company’s stock valued at $70,463,000 after buying an additional 86,643 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Skyline Champion by 7.3% during the third quarter. Janus Henderson Group PLC now owns 1,258,253 shares of the company’s stock valued at $75,571,000 after buying an additional 85,296 shares in the last quarter. Institutional investors and hedge funds own 97.66% of the company’s stock.
NYSE:SKY opened at $67.34 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.39 and a current ratio of 2.02. Skyline Champion has a one year low of $34.33 and a one year high of $85.92. The stock has a 50-day simple moving average of $73.81. The firm has a market capitalization of $3.82 billion, a PE ratio of 25.80 and a beta of 2.05.
Skyline Champion (NYSE:SKY) last released its quarterly earnings results on Tuesday, November 2nd. The company reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.27. Skyline Champion had a return on equity of 25.27% and a net margin of 8.02%. The business had revenue of $524.23 million for the quarter, compared to analysts’ expectations of $491.60 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. As a group, equities research analysts expect that Skyline Champion will post 3.32 EPS for the current fiscal year.
About Skyline Champion
Skyline Champion Corp. engages in the manufacture and retail of mobile homes and other manufactured housing. It builds homes under the following brands: Skyline Homes, Champion Home Builders, Athens Park Model RVs, Dutch Housing, Excel Homes, Homes of Merit, New Era, Redman Homes, Shore Park, Silvercrest, Titan Homes in the U.S.