Skyline Champion (NYSE:SKY) Stock Rating Upgraded by Zelman & Associates

Zelman & Associates upgraded shares of Skyline Champion (NYSE:SKY) from a strong sell rating to a hold rating in a report issued on Thursday morning, Marketbeat Ratings reports.

Several other analysts have also recently weighed in on the company. Royal Bank of Canada dropped their price objective on Skyline Champion from $96.00 to $82.00 and set a “sector perform” rating for the company in a report on Wednesday, May 28th. Barclays dropped their price objective on Skyline Champion from $97.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, May 28th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Skyline Champion presently has an average rating of “Hold” and an average target price of $80.60.

Skyline Champion Stock Down 1.4%

Shares of NYSE SKY opened at $64.44 on Thursday. The stock has a market cap of $3.69 billion, a PE ratio of 22.69 and a beta of 1.19. The business has a fifty day moving average of $82.38 and a two-hundred day moving average of $91.98. Skyline Champion has a 52-week low of $63.13 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.

Skyline Champion (NYSE:SKY) last issued its quarterly earnings results on Tuesday, May 27th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 13.80% and a net margin of 6.80%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the company earned $0.62 EPS. As a group, equities research analysts expect that Skyline Champion will post 3.63 earnings per share for the current fiscal year.

Skyline Champion announced that its board has approved a stock buyback plan on Friday, May 30th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Skyline Champion

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Skyline Champion by 17.3% in the 4th quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company’s stock valued at $523,578,000 after acquiring an additional 876,712 shares in the last quarter. Capital World Investors raised its stake in shares of Skyline Champion by 31.5% during the 4th quarter. Capital World Investors now owns 2,638,862 shares of the company’s stock worth $232,484,000 after purchasing an additional 632,718 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Skyline Champion by 67.1% during the 1st quarter. Alliancebernstein L.P. now owns 1,716,459 shares of the company’s stock worth $162,652,000 after purchasing an additional 689,265 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Skyline Champion by 17.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,646,482 shares of the company’s stock worth $145,055,000 after purchasing an additional 241,326 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Skyline Champion by 2.9% during the 4th quarter. American Century Companies Inc. now owns 1,411,769 shares of the company’s stock worth $124,377,000 after purchasing an additional 39,262 shares in the last quarter.

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.