Skyline (NYSEAMERICAN:SKY) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Skyline (NYSEAMERICAN:SKY) from a sell rating to a hold rating in a research note published on Tuesday morning, Zacks.com reports.

According to Zacks, “Skyline Corporation designs, produces and distributes manufactured housing and recreational vehicles. “

Separately, Royal Bank of Canada set a $28.00 target price on Skyline and gave the company a buy rating in a research report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $26.71.

NYSEAMERICAN:SKY opened at $25.45 on Tuesday. Skyline has a 12-month low of $12.72 and a 12-month high of $35.65.

Skyline (NYSEAMERICAN:SKY) last released its quarterly earnings data on Tuesday, May 21st. The construction company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.05. The business had revenue of $327.68 million during the quarter, compared to the consensus estimate of $348.50 million.

In related news, CFO Laurie M. Hough sold 5,050 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $26.01, for a total transaction of $131,350.50. Following the sale, the chief financial officer now owns 250,075 shares of the company’s stock, valued at $6,504,450.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Roger K. Scholten sold 5,329 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $22.02, for a total value of $117,344.58. Following the sale, the senior vice president now directly owns 186,782 shares in the company, valued at approximately $4,112,939.64. The disclosure for this sale can be found here. Insiders sold 770,064 shares of company stock worth $18,647,678 in the last ninety days.

A number of large investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. grew its position in Skyline by 39.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 1,872 shares of the construction company’s stock worth $36,000 after buying an additional 532 shares in the last quarter. Citigroup Inc. grew its position in Skyline by 5.1% during the fourth quarter. Citigroup Inc. now owns 11,035 shares of the construction company’s stock worth $161,000 after buying an additional 538 shares in the last quarter. Legal & General Group Plc grew its position in Skyline by 19.4% during the fourth quarter. Legal & General Group Plc now owns 5,144 shares of the construction company’s stock worth $75,000 after buying an additional 837 shares in the last quarter. Strs Ohio grew its position in Skyline by 14.1% during the first quarter. Strs Ohio now owns 8,900 shares of the construction company’s stock worth $169,000 after buying an additional 1,100 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Skyline by 40.7% during the first quarter. Victory Capital Management Inc. now owns 4,307 shares of the construction company’s stock worth $82,000 after buying an additional 1,246 shares in the last quarter.

Skyline Company Profile

Skyline Corporation designs, produces, and markets manufactured housing, modular housing, and park models to independent dealers and manufactured housing communities in the United States and Canada. The company's manufactured housing models include two to four bedrooms, kitchen, dining area, living room, one or two bathrooms, kitchen appliances, and central heating and cooling products, as well as exterior dormers and windows, interior or exterior accent columns, fireplaces, and whirlpool tubs.

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