Skyline Champion (NYSE:SKY) Shares Gap Down After Earnings Miss

Skyline Champion Co. (NYSE:SKY) shares gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $77.68, but opened at $72.00. Skyline Champion shares last traded at $73.04, with a volume of 71,593 shares.

The company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Skyline Champion had a net margin of 10.19% and a return on equity of 15.45%. The business had revenue of $536.36 million during the quarter, compared to analyst estimates of $560.90 million. During the same period last year, the business posted $1.00 EPS. Skyline Champion’s revenue was up 9.1% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wedbush restated a “neutral” rating and issued a $72.00 price target on shares of Skyline Champion in a research report on Thursday, May 16th. Royal Bank of Canada upped their price target on shares of Skyline Champion from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Wednesday, February 7th. Five 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 a consensus rating of “Hold” and an average price target of $71.40.

Hedge Funds Weigh In On Skyline Champion

Institutional investors and hedge funds have recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of Skyline Champion in the 1st quarter valued at about $63,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Skyline Champion in the 3rd quarter valued at $94,000. Kessler Investment Group LLC acquired a new position in shares of Skyline Champion during the 4th quarter valued at $123,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Skyline Champion during the 3rd quarter worth $216,000. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in Skyline Champion in the 4th quarter valued at $219,000.

Skyline Champion Stock Down 5.9 %

The firm has a 50-day simple moving average of $79.67 and a 200 day simple moving average of $74.05. The company has a market capitalization of $4.22 billion, a PE ratio of 20.98 and a beta of 1.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 1.71.

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.