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

by · The Cerbat Gem

Skyline Champion (NYSE:SKY – Get Free Report) announced its earnings results on Monday. The company reported $0.93 earnings per share (EPS) for the quarter, topping 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 company had revenue of $616.88 million during the quarter, compared to analyst estimates of $600.52 million. During the same period in the previous year, the business earned $0.82 earnings per share. The firm’s quarterly revenue was up 32.9% compared to the same quarter last year.

Skyline Champion Trading Down 1.1 %

Shares of NYSE:SKY traded down $0.98 during midday trading on Thursday, hitting $89.01. 13,042 shares of the stock traded hands, compared to its average volume of 355,786. The stock has a market capitalization of $5.13 billion, a PE ratio of 34.75 and a beta of 1.57. The business’s 50 day moving average is $92.56 and its two-hundred day moving average is $81.42. The company has a quick ratio of 1.57, a current ratio of 2.33 and a debt-to-equity ratio of 0.02. Skyline Champion has a one year low of $52.12 and a one year high of $101.39.

Insider Activity

In other news, CFO Laurie M. Hough sold 5,354 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $88.64, for a total transaction of $474,578.56. Following the completion of the transaction, the chief financial officer now directly owns 105,153 shares of the company’s stock, valued at approximately $9,320,761.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Michael B. Berman sold 3,496 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $82.34, for a total value of $287,860.64. Following the completion of the transaction, the director now owns 8,099 shares in the company, valued at $666,871.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Laurie M. Hough sold 5,354 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $88.64, for a total value of $474,578.56. Following the completion of the transaction, the chief financial officer now owns 105,153 shares of the company’s stock, valued at approximately $9,320,761.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 163,636 shares of company stock valued at $14,582,253. Insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

SKY has been the subject of several research reports. Craig Hallum upped their target price on shares of Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada boosted their price target on shares of Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Wednesday. StockNews.com raised shares of Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Wedbush reissued a “neutral” rating and issued a $64.00 price target on shares of Skyline Champion in a research note on Wednesday, August 7th. Finally, Barclays boosted their price target on shares of Skyline Champion from $68.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Skyline Champion presently has an average rating of “Hold” and a consensus target price of $84.40.

Check Out Our Latest Research Report on SKY

Skyline Champion Company Profile

(Get Free Report)

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.

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