Short Interest in Skyline Champion Co. (NYSE:SKY) Increases By 63.1%

Skyline Champion Co. (NYSE:SKY) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,570,000 shares, a growth of 63.1% from the November 30th total of 962,400 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average daily volume of 670,700 shares, the days-to-cover ratio is currently 2.3 days.

Skyline Champion Price Performance

NYSE SKY traded down $1.29 during mid-day trading on Friday, hitting $88.41. The stock had a trading volume of 553,743 shares, compared to its average volume of 445,504. The firm’s 50 day moving average is $97.38 and its 200 day moving average is $88.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.42 and a quick ratio of 1.64. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 34.14 and a beta of 1.59. Skyline Champion has a twelve month low of $64.82 and a twelve month high of $116.49.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SKY shares. Jefferies Financial Group lifted their target price on shares of Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. 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. Barclays upped their price target on Skyline Champion from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Craig Hallum raised their price objective on Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Skyline Champion currently has a consensus rating of “Hold” and a consensus target price of $85.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SKY. Truvestments Capital LLC purchased a new position in Skyline Champion during the third quarter worth approximately $32,000. Quarry LP purchased a new position in shares of Skyline Champion during the 3rd quarter worth $67,000. nVerses Capital LLC acquired a new position in shares of Skyline Champion during the 3rd quarter valued at about $76,000. MML Investors Services LLC purchased a new stake in shares of Skyline Champion in the third quarter valued at about $216,000. Finally, CWM LLC increased its position in Skyline Champion by 7.4% during the third quarter. CWM LLC now owns 2,286 shares of the company’s stock worth $217,000 after purchasing an additional 158 shares during the last quarter.

About Skyline Champion

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.