Penbrook Management LLC Decreases Stake in Skyline Champion Co. (NYSE:SKY)

Penbrook Management LLC cut its stake in Skyline Champion Co. (NYSE:SKY) by 11.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,585 shares of the company’s stock after selling 1,150 shares during the period. Penbrook Management LLC’s holdings in Skyline Champion were worth $756,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. FMR LLC lifted its stake in Skyline Champion by 32.3% during the 3rd quarter. FMR LLC now owns 1,491,907 shares of the company’s stock valued at $141,507,000 after acquiring an additional 363,885 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Skyline Champion during the third quarter worth $27,769,000. Cerity Partners LLC raised its holdings in shares of Skyline Champion by 118.8% during the third quarter. Cerity Partners LLC now owns 188,767 shares of the company’s stock worth $17,905,000 after purchasing an additional 102,506 shares during the last quarter. State Street Corp lifted its position in Skyline Champion by 4.6% during the third quarter. State Street Corp now owns 1,790,962 shares of the company’s stock valued at $169,873,000 after purchasing an additional 78,733 shares during the period. Finally, Summit Partners Public Asset Management LLC boosted its holdings in Skyline Champion by 23.3% in the third quarter. Summit Partners Public Asset Management LLC now owns 404,673 shares of the company’s stock valued at $38,383,000 after purchasing an additional 76,573 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SKY shares. Jefferies Financial Group boosted their price objective on Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Craig Hallum increased their price target on shares of Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Finally, Barclays increased their target price on shares of Skyline Champion from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Skyline Champion presently has an average rating of “Hold” and a consensus price target of $85.40.

Skyline Champion Price Performance

Shares of NYSE SKY opened at $89.18 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.64 and a current ratio of 2.42. The firm has a fifty day moving average of $95.53 and a 200 day moving average of $91.60. The firm has a market cap of $5.12 billion, a PE ratio of 34.43 and a beta of 1.63. Skyline Champion Co. has a one year low of $64.82 and a one year high of $116.49.

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

Skyline Champion 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.