Norges Bank Acquires New Holdings in Skyline Champion Co. (NYSE:SKY)

Norges Bank bought a new position in Skyline Champion Co. (NYSE:SKY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 787,126 shares of the company’s stock, valued at approximately $69,346,000.

Several other large investors also recently made changes to their positions in SKY. SkyView Investment Advisors LLC increased its holdings in shares of Skyline Champion by 2.2% during the third quarter. SkyView Investment Advisors LLC now owns 6,243 shares of the company’s stock valued at $592,000 after purchasing an additional 132 shares during the period. Ulland Investment Advisors LLC raised its position in shares of Skyline Champion by 0.3% during the 4th quarter. Ulland Investment Advisors LLC now owns 52,610 shares of the company’s stock worth $4,635,000 after buying an additional 171 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Skyline Champion by 3.7% in the 4th quarter. HighTower Advisors LLC now owns 5,019 shares of the company’s stock worth $442,000 after acquiring an additional 180 shares during the period. Atria Investments Inc boosted its holdings in shares of Skyline Champion by 5.7% in the fourth quarter. Atria Investments Inc now owns 3,726 shares of the company’s stock valued at $328,000 after acquiring an additional 202 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Skyline Champion by 3.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,745 shares of the company’s stock valued at $506,000 after acquiring an additional 213 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SKY. Royal Bank of Canada upped their target price on Skyline Champion from $88.00 to $96.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Barclays upped their price objective on Skyline Champion from $90.00 to $106.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. 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.com, the company presently has a consensus rating of “Hold” and a consensus price target of $90.20.

Insider Buying and Selling at Skyline Champion

In other news, VP Timothy A. Burkhardt sold 3,823 shares of Skyline Champion stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $106.87, for a total transaction of $408,564.01. Following the transaction, the vice president now owns 32,706 shares in the company, valued at approximately $3,495,290.22. The trade was a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph A. Kimmell sold 4,335 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $104.21, for a total value of $451,750.35. Following the transaction, the executive vice president now directly owns 39,411 shares in the company, valued at $4,107,020.31. The trade was a 9.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

Skyline Champion Price Performance

NYSE SKY opened at $86.41 on Friday. Skyline Champion Co. has a 1 year low of $64.82 and a 1 year high of $116.49. The business’s fifty day moving average is $97.82 and its two-hundred day moving average is $95.96. The stock has a market capitalization of $4.95 billion, a P/E ratio of 30.43 and a beta of 1.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 2.59.

Skyline Champion (NYSE:SKY) last announced its earnings results on Tuesday, February 4th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.24. Skyline Champion had a return on equity of 13.80% and a net margin of 6.80%. On average, research analysts forecast that Skyline Champion Co. will post 3.63 earnings per share for the current fiscal year.

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.