Royal Bank of Canada Has Lowered Expectations for Skyline Champion (NYSE:SKY) Stock Price

Skyline Champion (NYSE:SKY) had its price target cut by equities researchers at Royal Bank of Canada from $96.00 to $82.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 22.49% from the company’s current price.

Separately, Barclays reduced their target price on shares of Skyline Champion from $97.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $80.60.

Skyline Champion Price Performance

Shares of NYSE:SKY traded down $3.50 during trading hours on Wednesday, hitting $66.95. 415,117 shares of the company’s stock traded hands, compared to its average volume of 551,685. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 23.69 and a beta of 1.37. Skyline Champion has a 52 week low of $64.82 and a 52 week high of $116.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 2.59. The company’s fifty day simple moving average is $87.27 and its two-hundred day simple moving average is $93.76.

Skyline Champion (NYSE:SKY) last issued its earnings results on Tuesday, May 27th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The company had revenue of $593.87 million for the quarter, compared to analyst estimates of $595.42 million. Skyline Champion had a net margin of 6.80% and a return on equity of 13.80%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business earned $0.62 EPS. As a group, equities analysts anticipate that Skyline Champion will post 3.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Skyline Champion

Large investors have recently bought and sold shares of the business. Kovitz Investment Group Partners LLC lifted its position in shares of Skyline Champion by 2.7% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 5,514 shares of the company’s stock valued at $523,000 after buying an additional 145 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Skyline Champion by 5.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,336 shares of the company’s stock worth $316,000 after acquiring an additional 172 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Skyline Champion by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,613 shares of the company’s stock valued at $495,000 after buying an additional 178 shares during the period. HighTower Advisors LLC raised its holdings in Skyline Champion by 3.7% during the 4th quarter. HighTower Advisors LLC now owns 5,019 shares of the company’s stock valued at $442,000 after buying an additional 180 shares during the period. Finally, Xponance Inc. raised its holdings in Skyline Champion by 5.0% during the 1st quarter. Xponance Inc. now owns 4,048 shares of the company’s stock valued at $384,000 after buying an additional 193 shares during the period.

About Skyline Champion

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.