Skyline (NYSEAMERICAN:SKY) Earns “Buy” Rating from Barclays

Barclays reiterated their buy rating on shares of Skyline (NYSEAMERICAN:SKY) in a report published on Sunday, AnalystRatings.com reports. Barclays currently has a $34.00 price target on the construction company’s stock.

Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Skyline from a hold rating to a strong-buy rating and set a $35.00 price objective on the stock in a research note on Saturday. Royal Bank of Canada set a $28.00 price objective on shares of Skyline and gave the company a buy rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Skyline currently has a consensus rating of Buy and a consensus price target of $30.00.

Shares of NYSEAMERICAN:SKY traded down $1.86 during trading hours on Friday, hitting $29.24. The stock had a trading volume of 66,755 shares, compared to its average volume of 617,915. Skyline has a 1-year low of $12.72 and a 1-year high of $32.44.

Skyline (NYSEAMERICAN:SKY) last announced its quarterly earnings results on Wednesday, July 31st. The construction company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.28 by $0.07. The firm had revenue of $372.00 million during the quarter, compared to analyst estimates of $356.76 million. During the same quarter in the previous year, the business posted $0.03 EPS. Skyline’s revenue for the quarter was up 15.4% compared to the same quarter last year.

In related news, CEO Mark J. Yost sold 16,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $30.12, for a total transaction of $496,980.00. Following the completion of the sale, the chief executive officer now directly owns 403,414 shares in the company, valued at $12,150,829.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Timothy A. Burkhardt sold 4,889 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $25.14, for a total transaction of $122,909.46. Following the sale, the vice president now owns 60,736 shares of the company’s stock, valued at $1,526,903.04. The disclosure for this sale can be found here. Insiders have sold 1,316,839 shares of company stock worth $33,585,917 in the last quarter.

Large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Skyline by 54.6% in the 4th quarter. BlackRock Inc. now owns 2,415,692 shares of the construction company’s stock worth $35,486,000 after purchasing an additional 852,796 shares during the period. FMR LLC boosted its stake in Skyline by 4.7% in the 1st quarter. FMR LLC now owns 2,323,264 shares of the construction company’s stock worth $44,142,000 after purchasing an additional 105,135 shares during the period. Wells Fargo & Company MN boosted its stake in Skyline by 13.3% in the 1st quarter. Wells Fargo & Company MN now owns 2,147,560 shares of the construction company’s stock worth $40,804,000 after purchasing an additional 251,632 shares during the period. Marshall Wace LLP boosted its stake in Skyline by 2,307.1% in the 1st quarter. Marshall Wace LLP now owns 1,133,725 shares of the construction company’s stock worth $21,540,000 after purchasing an additional 1,086,625 shares during the period. Finally, Peregrine Capital Management LLC acquired a new position in Skyline in the 2nd quarter worth approximately $24,364,000.

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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Analyst Recommendations for Skyline (NYSEAMERICAN:SKY)

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