Loomis Sayles & Co. L P Decreases Stock Holdings in Skyline Champion Co. (NYSE:SKY)

Loomis Sayles & Co. L P lowered its stake in Skyline Champion Co. (NYSE:SKY) by 48.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 178,509 shares of the company’s stock after selling 169,407 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Skyline Champion were worth $16,932,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in shares of Skyline Champion during the 3rd quarter valued at $76,000. Kessler Investment Group LLC lifted its holdings in Skyline Champion by 41.0% in the second quarter. Kessler Investment Group LLC now owns 2,225 shares of the company’s stock valued at $151,000 after acquiring an additional 647 shares during the period. CWM LLC boosted its position in Skyline Champion by 7.4% in the third quarter. CWM LLC now owns 2,286 shares of the company’s stock worth $217,000 after purchasing an additional 158 shares during the last quarter. OLD National Bancorp IN bought a new stake in shares of Skyline Champion during the 3rd quarter valued at about $225,000. Finally, Net Worth Advisory Group purchased a new stake in shares of Skyline Champion during the 3rd quarter valued at about $272,000.

Insiders Place Their Bets

In other news, Director Mak Capital One Llc sold 40,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $88.87, for a total transaction of $3,554,800.00. Following the completion of the transaction, the director now owns 2,716,500 shares in the company, valued at $241,415,355. This trade represents a 1.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 6.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on SKY. Wedbush reissued a “neutral” rating and issued a $64.00 price objective on shares of Skyline Champion in a report on Wednesday, August 7th. Jefferies Financial Group increased their price target on shares of Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada boosted their price objective on shares of Skyline Champion from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Barclays raised their target price on Skyline Champion from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Skyline Champion has an average rating of “Hold” and a consensus price target of $85.40.

Skyline Champion Stock Down 0.8 %

Shares of SKY stock opened at $103.45 on Wednesday. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 39.94 and a beta of 1.59. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.42 and a quick ratio of 1.64. The company’s fifty day moving average price is $94.67 and its 200-day moving average price is $84.05. Skyline Champion Co. has a one year low of $58.85 and a one year high of $107.26.

Skyline Champion (NYSE:SKY) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.32. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The business had revenue of $616.88 million for the quarter, compared to analysts’ expectations of $600.52 million. During the same period last year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was up 32.9% on a year-over-year basis. Sell-side analysts expect that Skyline Champion Co. will post 3.43 EPS for the current fiscal year.

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.