Skyline Champion Co. (NYSE:SKY) Short Interest Update

Skyline Champion Co. (NYSE:SKY) was the recipient of a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 919,400 shares, a decrease of 17.2% from the July 31st total of 1,110,000 shares. Based on an average trading volume of 456,700 shares, the days-to-cover ratio is presently 2.0 days. Currently, 1.6% of the company’s stock are sold short.

Insider Buying and Selling at Skyline Champion

In related news, VP Timothy A. Burkhardt sold 2,874 shares of Skyline Champion stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $89.42, for a total value of $256,993.08. Following the completion of the transaction, the vice president now directly owns 38,792 shares in the company, valued at $3,468,780.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Skyline Champion news, EVP Jonathan Wade Lyall sold 10,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $89.90, for a total transaction of $899,000.00. Following the sale, the executive vice president now directly owns 36,082 shares of the company’s stock, valued at $3,243,771.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Timothy A. Burkhardt sold 2,874 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $89.42, for a total transaction of $256,993.08. Following the completion of the transaction, the vice president now owns 38,792 shares in the company, valued at $3,468,780.64. The disclosure for this sale can be found here. Insiders have sold 47,136 shares of company stock worth $4,066,583 in the last ninety days. 6.90% of the stock is owned by insiders.

Institutional Trading of Skyline Champion

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in Skyline Champion by 0.8% during the fourth quarter. Wellington Management Group LLP now owns 8,047,679 shares of the company’s stock worth $597,621,000 after acquiring an additional 62,748 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Skyline Champion by 2.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,642,123 shares of the company’s stock worth $179,004,000 after purchasing an additional 53,965 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Skyline Champion by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,310,969 shares of the company’s stock valued at $97,356,000 after purchasing an additional 81,823 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Skyline Champion by 0.3% during the second quarter. William Blair Investment Management LLC now owns 1,197,889 shares of the company’s stock worth $81,157,000 after buying an additional 3,313 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its position in Skyline Champion by 4.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 844,367 shares of the company’s stock worth $57,206,000 after buying an additional 35,880 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SKY. Craig Hallum lowered their price objective on Skyline Champion from $88.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Wedbush reaffirmed a “neutral” rating and issued a $64.00 price objective on shares of Skyline Champion in a report on Wednesday, August 7th. Royal Bank of Canada boosted their target price on shares of Skyline Champion from $68.00 to $82.00 and gave the company a “sector perform” rating in a research note on Thursday, August 8th. Barclays upped their target price on shares of Skyline Champion from $68.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Skyline Champion currently has an average rating of “Hold” and an average price target of $78.75.

Skyline Champion Stock Performance

Shares of SKY opened at $93.52 on Friday. The firm has a market capitalization of $5.38 billion, a PE ratio of 36.82 and a beta of 1.57. 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 firm has a 50-day moving average price of $78.76 and a 200 day moving average price of $78.22. Skyline Champion has a 52-week low of $52.12 and a 52-week high of $93.67.

Skyline Champion (NYSE:SKY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.22. The business had revenue of $627.80 million during the quarter, compared to analysts’ expectations of $600.39 million. Skyline Champion had a net margin of 6.45% and a return on equity of 13.07%. The business’s revenue was up 35.1% on a year-over-year basis. During the same period last year, the firm posted $0.89 earnings per share. On average, sell-side analysts anticipate that Skyline Champion will post 3.01 earnings per share 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.