Fintel reports that on August 2, 2023, Wedbush reiterated coverage of Skyline Champion (NYSE:SKY) with a Outperform recommendation.
Analyst Price Forecast Suggests 6.45% Upside
As of July 6, 2023, the average one-year price target for Skyline Champion is 74.15. The forecasts range from a low of 61.61 to a high of $86.10. The average price target represents an increase of 6.45% from its latest reported closing price of 69.66.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Skyline Champion is 2,164MM, a decrease of 7.74%. The projected annual non-GAAP EPS is 3.89.
What is the Fund Sentiment?
There are 675 funds or institutions reporting positions in Skyline Champion. This is an increase of 23 owner(s) or 3.53% in the last quarter. Average portfolio weight of all funds dedicated to SKY is 0.43%, an increase of 16.98%. Total shares owned by institutions increased in the last three months by 1.01% to 70,219K shares. 
The put/call ratio of SKY is 0.50, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 6,846K shares representing 11.98% ownership of the company. In it's prior filing, the firm reported owning 7,955K shares, representing a decrease of 16.20%. The firm decreased its portfolio allocation in SKY by 82.47% over the last quarter.
Mak Capital One holds 3,000K shares representing 5.25% ownership of the company. No change in the last quarter.
Capital World Investors holds 2,725K shares representing 4.77% ownership of the company. In it's prior filing, the firm reported owning 1,324K shares, representing an increase of 51.39%. The firm increased its portfolio allocation in SKY by 191.35% over the last quarter.
American Century Companies holds 2,697K shares representing 4.72% ownership of the company. In it's prior filing, the firm reported owning 2,740K shares, representing a decrease of 1.60%. The firm increased its portfolio allocation in SKY by 38.63% over the last quarter.
ASVIX - Small Cap Value Fund Investor Class holds 1,850K shares representing 3.24% ownership of the company. In it's prior filing, the firm reported owning 2,065K shares, representing a decrease of 11.62%. The firm increased its portfolio allocation in SKY by 27.68% over the last quarter.
Skyline Champion Background Information
(This description is provided by the company.)
Skyline Champion Corporation was formed on June 1, 2018 as the result of the combination of Skyline Corporation ('Skyline') and the operating assets of Champion Enterprises Holdings, LLC ('Champion'). The combined company employs approximately 6,700 people and is the largest independent, publicly traded, factory-built housing company in North America. With almost 70 years of homebuilding experience and 38 manufacturing facilities throughout the United States and western Canada, Skyline Champion is well positioned with a leading portfolio of manufactured and modular homes, ADUs, park-models and modular buildings for the single-family, multi-family, hospitality, senior and workforce housing sectors. In addition to its core home building business, Skyline Champion operates a factory-direct retail business, Titan Factory Direct, with 18 retail locations spanning the southern United States, and Star Fleet Trucking, providing transportation services to the manufactured housing and other industries from several dispatch locations across the United States. Skyline Champion builds homes under some of the most well known brand names in the factory-built housing industry including Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Excel Homes, Homes of Merit, New Era, Redman Homes, Shore Park, Silvercrest, Titan Homes in the U.S., and Moduline and SRI Homes in western Canada.
Additional reading:
- SKYLINE CHAMPION ANNOUNCES FIRST QUARTER FISCAL 2024 RESULTS
- SKYLINE CHAMPION ANNOUNCES FOURTH QUARTER AND FULL YEAR FISCAL 2023 RESULTS
- Subsidiaries of the Registrant.*
- Amended and Restated Credit Agreement, amended May 18, 2023, of Credit Agreement dated as of July 7, 2021, among Skyline Champion Corporation, Champion Home Builders, Inc., Wells Fargo Bank, National Association, as administrative agent and Collateral agent, and other financial institutions party thereto
- CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS OF SKYLINE CHAMPION CORPORATION
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
