Skyline Champion (NYSE:SKY) Issues Earnings Results, Beats Estimates By $0.32 EPS

Skyline Champion (NYSE:SKY) issued its quarterly earnings results on Monday. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.32, Briefing.com reports. Skyline Champion had a net margin of 6.45% and a return on equity of 13.07%. The firm had revenue of $616.88 million for the quarter, compared to analyst estimates of $600.52 million. During the same period in the previous year, the business earned $0.82 EPS. The company’s revenue was up 32.9% compared to the same quarter last year.

Skyline Champion Stock Down 0.9 %

SKY stock traded down $0.83 during mid-day trading on Thursday, reaching $89.16. 18,337 shares of the company traded hands, compared to its average volume of 355,798. The firm’s 50 day moving average price is $92.56 and its 200 day moving average price is $81.42. Skyline Champion has a fifty-two week low of $52.12 and a fifty-two week high of $101.39. The company has a quick ratio of 1.57, a current ratio of 2.33 and a debt-to-equity ratio of 0.02. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 34.75 and a beta of 1.57.

Insider Activity

In other news, Director Erin Mulligan Nelson sold 1,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $83.18, for a total value of $83,180.00. Following the completion of the transaction, the director now owns 5,170 shares of the company’s stock, valued at approximately $430,040.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Timothy Mark Larson sold 5,500 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $83.00, for a total value of $456,500.00. Following the sale, the insider now directly owns 43,300 shares of the company’s stock, valued at approximately $3,593,900. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Erin Mulligan Nelson sold 1,000 shares of Skyline Champion stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $83.18, for a total value of $83,180.00. Following the completion of the transaction, the director now directly owns 5,170 shares of the company’s stock, valued at approximately $430,040.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 163,636 shares of company stock valued at $14,582,253. Corporate insiders own 6.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on Skyline Champion from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Wednesday. Craig Hallum boosted their price target on Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group upped their price objective on Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. StockNews.com upgraded Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Barclays increased their target price on Skyline Champion from $68.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $84.40.

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.