Fort Washington Investment Advisors Inc. OH Grows Stock Position in Skyline Champion Co. (NYSE:SKY)

Fort Washington Investment Advisors Inc. OH boosted its holdings in Skyline Champion Co. (NYSE:SKY) by 11.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 213,944 shares of the company’s stock after buying an additional 21,480 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.37% of Skyline Champion worth $20,273,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in shares of Skyline Champion by 80.7% in the fourth quarter. Bank of New York Mellon Corp now owns 351,060 shares of the company’s stock worth $30,928,000 after acquiring an additional 156,757 shares during the last quarter. XTX Topco Ltd purchased a new position in Skyline Champion during the fourth quarter worth approximately $712,000. Van ECK Associates Corp boosted its holdings in shares of Skyline Champion by 21.8% in the 4th quarter. Van ECK Associates Corp now owns 40,108 shares of the company’s stock valued at $3,534,000 after purchasing an additional 7,184 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Skyline Champion by 85.0% during the 4th quarter. Rhumbline Advisers now owns 151,781 shares of the company’s stock valued at $13,372,000 after buying an additional 69,756 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Skyline Champion by 38,372.4% during the 1st quarter. GAMMA Investing LLC now owns 96,181 shares of the company’s stock worth $9,114,000 after buying an additional 95,931 shares during the last quarter.

Analyst Ratings Changes

SKY has been the topic of several research reports. Royal Bank of Canada cut their target price on Skyline Champion from $96.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Wednesday, May 28th. Zelman & Associates raised Skyline Champion from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 5th. Finally, Barclays dropped their target price on shares of Skyline Champion from $97.00 to $72.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 28th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $80.60.

Skyline Champion Trading Down 1.3%

Shares of SKY opened at $64.62 on Friday. Skyline Champion Co. has a 12 month low of $63.13 and a 12 month high of $116.49. The stock’s 50-day moving average is $80.58 and its two-hundred day moving average is $91.03. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.59 and a quick ratio of 1.74. The stock has a market cap of $3.70 billion, a PE ratio of 22.75 and a beta of 1.19.

Skyline Champion (NYSE:SKY) last announced its earnings results on Tuesday, May 27th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). The company had revenue of $593.87 million for the quarter, compared to analysts’ expectations of $595.42 million. Skyline Champion had a net margin of 6.80% and a return on equity of 13.80%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 earnings per share. Equities analysts forecast that Skyline Champion Co. will post 3.63 earnings per share for the current fiscal year.

Skyline Champion declared that its Board of Directors has authorized a stock repurchase plan on Friday, May 30th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.