Argent Capital Management LLC reduced its stake in shares of Skyline Champion Co. (NYSE:SKY) by 5.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,761 shares of the company’s stock after selling 727 shares during the quarter. Argent Capital Management LLC’s holdings in Skyline Champion were worth $578,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Curi Capital purchased a new position in shares of Skyline Champion during the 4th quarter valued at approximately $36,000. Investors Financial Group LLC purchased a new position in shares of Skyline Champion during the 1st quarter valued at approximately $226,000. Envestnet Asset Management Inc. acquired a new stake in Skyline Champion in the 1st quarter valued at $246,000. Teacher Retirement System of Texas purchased a new stake in Skyline Champion in the 1st quarter worth $257,000. Finally, Fox Run Management L.L.C. purchased a new position in Skyline Champion during the fourth quarter valued at $261,000. 96.08% of the stock is owned by institutional investors.
Several research firms recently issued reports on SKY. Craig Hallum lifted their price objective on Skyline Champion from $55.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, May 27th. Wedbush reaffirmed a “neutral” rating on shares of Skyline Champion in a research note on Monday, March 8th. Barclays raised their price target on shares of Skyline Champion from $51.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, May 27th. Zacks Investment Research raised shares of Skyline Champion from a “hold” rating to a “strong-buy” rating and set a $59.00 price objective for the company in a research note on Tuesday, June 1st. Finally, TheStreet upgraded Skyline Champion from a “c” rating to a “b” rating in a report on Tuesday, June 1st. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $51.20.
NYSE:SKY opened at $48.45 on Friday. The company has a 50-day moving average price of $45.94. Skyline Champion Co. has a 1-year low of $21.31 and a 1-year high of $53.90. The company has a quick ratio of 1.56, a current ratio of 2.19 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 47.97 and a beta of 2.19.
Skyline Champion (NYSE:SKY) last released its quarterly earnings data on Monday, May 24th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.23. Skyline Champion had a return on equity of 11.92% and a net margin of 4.47%. The firm had revenue of $447.65 million for the quarter, compared to analysts’ expectations of $383.69 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The firm’s quarterly revenue was up 48.6% on a year-over-year basis. Sell-side analysts anticipate that Skyline Champion Co. will post 1.65 EPS for the current year.
About Skyline Champion
Skyline Champion Corporation operates as a factory-built housing company in North America. The company offers manufactured and modular homes, as well as park-models and modular buildings for the multi-family, hospitality, and senior and workforce housing sectors. It builds homes under the brand names of Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Excel Homes, Homes of Merit, New Era, Redman Homes, Shore Park, Silvercrest, Titan Homes in the United States, and Moduline and SRI Homes in western Canada.
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