Zacks Investment Research lowered shares of Skyline (NYSEAMERICAN:SKY) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Skyline Corporation designs, produces and distributes manufactured housing and recreational vehicles. “
Several other research analysts have also recently issued reports on the stock. SunTrust Banks started coverage on shares of Skyline in a report on Tuesday, September 4th. They issued a hold rating and a $30.00 target price for the company. Barclays started coverage on shares of Skyline in a report on Tuesday, October 2nd. They issued an overweight rating and a $35.00 target price for the company. Jefferies Financial Group started coverage on shares of Skyline in a report on Friday, September 7th. They issued a buy rating and a $36.00 target price for the company. Finally, Royal Bank of Canada started coverage on shares of Skyline in a report on Tuesday, August 28th. They issued an outperform rating and a $33.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $34.40.
Skyline (NYSEAMERICAN:SKY) last issued its earnings results on Monday, November 5th. The construction company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. The firm had revenue of $355.44 million during the quarter, compared to analysts’ expectations of $368.20 million.
In other news, CFO Laurie M. Hough sold 12,410 shares of the business’s stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $29.25, for a total transaction of $362,992.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Roger K. Scholten sold 12,373 shares of the business’s stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $29.25, for a total transaction of $361,910.25. Following the transaction, the senior vice president now directly owns 177,407 shares of the company’s stock, valued at $5,189,154.75. The disclosure for this sale can be found here. Insiders have sold 7,642,729 shares of company stock valued at $213,658,869 over the last three months.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SKY. Northern Trust Corp raised its holdings in shares of Skyline by 24.3% during the first quarter. Northern Trust Corp now owns 25,867 shares of the construction company’s stock valued at $570,000 after purchasing an additional 5,056 shares during the last quarter. Millennium Management LLC bought a new stake in Skyline during the first quarter valued at approximately $1,440,000. Acadian Asset Management LLC grew its position in Skyline by 115.5% during the second quarter. Acadian Asset Management LLC now owns 36,100 shares of the construction company’s stock valued at $1,265,000 after buying an additional 19,350 shares during the period. EAM Investors LLC grew its position in Skyline by 98.9% during the second quarter. EAM Investors LLC now owns 66,189 shares of the construction company’s stock valued at $2,319,000 after buying an additional 32,919 shares during the period. Finally, EAM Global Investors LLC bought a new stake in Skyline during the second quarter valued at approximately $1,484,000.
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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