Comerica Bank Boosts Position in Skyline Champion Co. (NYSE:SKY)

Comerica Bank boosted its holdings in shares of Skyline Champion Co. (NYSE:SKY – Get Rating) by 14.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,100 shares of the company’s stock after buying an additional 2,500 shares during the quarter. Comerica Bank’s holdings in Skyline Champion were worth $1,105,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SKY. Wellington Management Group LLP boosted its position in shares of Skyline Champion by 6.1% in the first quarter. Wellington Management Group LLP now owns 5,864,485 shares of the company’s stock worth $321,842,000 after purchasing an additional 335,974 shares during the period. Vanguard Group Inc. increased its stake in Skyline Champion by 3.2% during the first quarter. Vanguard Group Inc. now owns 5,490,446 shares of the company’s stock worth $301,316,000 after acquiring an additional 167,921 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Skyline Champion by 7.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,415,024 shares of the company’s stock valued at $114,520,000 after purchasing an additional 162,051 shares during the last quarter. FMR LLC increased its position in Skyline Champion by 12.4% during the second quarter. FMR LLC now owns 1,502,519 shares of the company’s stock valued at $71,249,000 after acquiring an additional 165,453 shares during the last quarter. Finally, State Street Corp grew its holdings in Skyline Champion by 8.6% during the 1st quarter. State Street Corp now owns 1,466,505 shares of the company’s stock valued at $80,482,000 after purchasing an additional 116,078 shares during the last quarter. Institutional investors own 99.56% of the company’s stock.

Skyline Champion Trading Down 0.8 %

Shares of NYSE:SKY opened at $57.47 on Wednesday. The company has a current ratio of 2.83, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01. Skyline Champion Co. has a 12-month low of $43.04 and a 12-month high of $81.87. The business has a 50 day moving average of $53.12 and a two-hundred day moving average of $55.84. The company has a market capitalization of $3.27 billion, a PE ratio of 7.94 and a beta of 1.85.

Skyline Champion (NYSE:SKY – Get Rating) last posted its earnings results on Tuesday, November 1st. The company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.75. Skyline Champion had a net margin of 15.36% and a return on equity of 46.34%. The firm had revenue of $806.83 million during the quarter, compared to analysts’ expectations of $664.50 million. As a group, analysts forecast that Skyline Champion Co. will post 6.52 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. StockNews.com began coverage on shares of Skyline Champion in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Craig Hallum lowered their target price on shares of Skyline Champion from $75.00 to $65.00 in a research note on Thursday, November 3rd. Royal Bank of Canada lowered Skyline Champion from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $72.00 to $54.00 in a research note on Thursday, November 3rd. Finally, Barclays cut Skyline Champion from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $65.00 to $60.00 in a research note on Wednesday, December 14th.

Insiders Place Their Bets

In other news, CEO Mark J. Yost sold 41,823 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $55.46, for a total transaction of $2,319,503.58. Following the sale, the chief executive officer now directly owns 113,370 shares in the company, valued at approximately $6,287,500.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Skyline Champion news, CEO Mark J. Yost sold 41,823 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $55.46, for a total value of $2,319,503.58. Following the sale, the chief executive officer now directly owns 113,370 shares of the company’s stock, valued at $6,287,500.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael B. Berman sold 5,536 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $52.70, for a total value of $291,747.20. Following the completion of the sale, the director now owns 10,099 shares of the company’s stock, valued at $532,217.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,109 shares of company stock worth $2,699,241. Company insiders own 7.10% of the company’s stock.

Skyline Champion Company Profile

(Get Rating)

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.