Skyline (NYSEAMERICAN:SKY) Raised to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Skyline (NYSEAMERICAN:SKY) from a hold rating to a strong-buy rating in a research report report published on Saturday morning, Zacks.com reports. They currently have $35.00 target price on the construction company’s stock.

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 note on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $30.00.

NYSEAMERICAN SKY opened at $29.03 on Friday. Skyline has a 52 week low of $12.72 and a 52 week high of $32.44.

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

In other news, SVP Roger K. Scholten sold 900 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $28.00, for a total transaction of $25,200.00. Following the sale, the senior vice president now owns 160,882 shares in the company, valued at approximately $4,504,696. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Timothy A. Burkhardt sold 4,889 shares of the company’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 value of $122,909.46. Following the sale, the vice president now owns 60,736 shares in the company, valued at approximately $1,526,903.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,319,839 shares of company stock worth $33,674,027.

A number of institutional investors and hedge funds have recently bought and sold shares of SKY. Great West Life Assurance Co. Can bought a new stake in Skyline in the 4th quarter valued at $36,000. Oppenheimer Asset Management Inc. raised its stake in Skyline by 39.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 1,872 shares of the construction company’s stock valued at $36,000 after acquiring an additional 532 shares during the period. New York State Teachers Retirement System bought a new stake in Skyline in the 1st quarter valued at $48,000. Advisor Group Inc. raised its stake in Skyline by 99.1% in the 2nd quarter. Advisor Group Inc. now owns 1,734 shares of the construction company’s stock valued at $48,000 after acquiring an additional 863 shares during the period. Finally, Legal & General Group Plc raised its stake in Skyline by 19.4% in the 4th quarter. Legal & General Group Plc now owns 5,144 shares of the construction company’s stock valued at $75,000 after acquiring an additional 837 shares during the period.

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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