Skyline (SKY) Issues Earnings Results, Beats Expectations By $0.05 EPS

Skyline (NYSEAMERICAN:SKY) released its quarterly earnings results on Tuesday. The construction company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05, RTT News reports.

Shares of SKY stock opened at $21.78 on Wednesday. Skyline has a fifty-two week low of $12.72 and a fifty-two week high of $35.65.

A number of equities research analysts recently issued reports on the stock. SunTrust Banks raised shares of Skyline from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Thursday, January 31st. Zacks Investment Research lowered Skyline from a “buy” rating to a “hold” rating in a report on Saturday, February 16th. Finally, Craig Hallum restated a “buy” rating and issued a $30.00 price objective (down previously from $37.00) on shares of Skyline in a report on Thursday, February 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Skyline currently has an average rating of “Buy” and an average target price of $27.57.

In other news, SVP Roger K. Scholten sold 5,329 shares of Skyline stock in a transaction on Friday, May 17th. The stock was sold at an average price of $22.02, for a total transaction of $117,344.58. Following the transaction, the senior vice president now owns 186,782 shares in the company, valued at approximately $4,112,939.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mak Capital One Llc sold 1,500,000 shares of Skyline stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $20.21, for a total value of $30,315,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,509,723 shares of company stock worth $30,529,232 in the last 90 days.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Skyline by 196.0% during the 3rd quarter. Vanguard Group Inc. now owns 970,946 shares of the construction company’s stock worth $27,740,000 after acquiring an additional 642,938 shares during the period. NJ State Employees Deferred Compensation Plan raised its holdings in Skyline by 312.5% in the 4th quarter. NJ State Employees Deferred Compensation Plan now owns 33,000 shares of the construction company’s stock valued at $485,000 after buying an additional 25,000 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in Skyline in the 4th quarter valued at about $146,000. Teachers Advisors LLC raised its holdings in Skyline by 814.1% in the 3rd quarter. Teachers Advisors LLC now owns 79,984 shares of the construction company’s stock valued at $2,285,000 after buying an additional 71,234 shares during the period. Finally, First Trust Advisors LP purchased a new stake in Skyline in the 4th quarter valued at about $1,249,000.

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About Skyline

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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Earnings History for Skyline (NYSEAMERICAN:SKY)

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