Skyline Champion (NYSE:SKY) Releases Earnings Results, Misses Expectations By $0.10 EPS

Skyline Champion (NYSE:SKY) announced its quarterly earnings data on Tuesday. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10), RTT News reports. 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 firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 EPS.

Skyline Champion Price Performance

Shares of NYSE:SKY opened at $70.45 on Wednesday. The company has a market capitalization of $4.04 billion, a P/E ratio of 24.81 and a beta of 1.37. The firm’s 50 day simple moving average is $87.27 and its two-hundred day simple moving average is $93.76. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.59 and a quick ratio of 1.74. Skyline Champion has a 1-year low of $64.82 and a 1-year high of $116.49.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SKY. Barclays dropped their target price on Skyline Champion from $106.00 to $97.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada upped their price objective on shares of Skyline Champion from $88.00 to $96.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Skyline Champion currently has an average rating of “Hold” and an average target price of $88.40.

Institutional Investors Weigh In On Skyline Champion

Institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC boosted its holdings in Skyline Champion by 712.0% during the first quarter. Millennium Management LLC now owns 70,029 shares of the company’s stock worth $6,636,000 after buying an additional 61,405 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Skyline Champion during the 1st quarter worth about $294,000. Finally, Royal Bank of Canada boosted its holdings in shares of Skyline Champion by 66.1% in the first quarter. Royal Bank of Canada now owns 10,804 shares of the company’s stock valued at $1,024,000 after acquiring an additional 4,301 shares during the period.

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.